Growing home ownership struggle for next generation

Oct. 11, 2005
Only three out of ten of today's ten year olds will be able to afford to buy their own homes unless house building increases, ODPM figures have revealed. By 2026 the proportion of thirty something couples able to afford a home is set to fall by approximately a third if building rates continue as they are. This compares to half of couples today and two thirds in the late 80s. The figures are based on analysis as part of the government's response to the Barker review, which will be set out in full before the end of the year. Commenting on the figures housing minister Yvette Cooper said: "For the sake of today's ten year olds we need to start planning new homes for the future right now. It isn't fair if people's chances of owning their own home in the future depends on whether their parents or grandparents were homeowners before them." Speaking at a local government association she said: "A lot of myths and misinformation about housebuilding have been promoted by people who want to block new homes. The fact is we can build more new homes and safeguard the environment at the same time. People need to …

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