Real Estate News and Tips

Priced out of property, we are homing in on a new age of renting

ThisIsLondon.co.uk |

In Brief...

Is Britain moving away from being a property-owning democracy? Resolution examined the financial pressures on Britain's 11 million low-to-middle income earners. When all factors are taken into account - stagnating pay, rising costs, reduced tax credits, tighter credit - they found that nationally someone in this large bracket would have to save for 45 years to buy his or her first home. That's based on someone saving 5% of his or her income - 10% would be half that, 40 years, but it's something that few can afford to do.. Many of them, if they are burdened by the added cost of obtaining their degrees, are going to struggle to get on to the bottom rung of the housing ladder as well.

Read the entire article at ThisIsLondon.co.uk...

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