About 2/3rds Of Tenants Are Ensnared By Incapacity To Buy Home
- 05 Aug
According to a survey by the property website Rightmove, almost two-thirds of renters feel trapped because they want to buy a home but can't afford to do so.
According to the Guardian,
"The research points out the frustrations faced by millions locked out of home ownership, dubbed generation rent, as the spiralling cost of letting and a revived property market curb these aspirations."
It is anticipated that, on Wednesday, Mark Carney, the Bank of England's governor will give a framework of his plans to keep interest rates low for probably many years in order to catalyse sustainable recovery.
He is also expected to continue with strategies for low mortgage costs, especially the funding for a lending scheme credited with boosting demand among first-time buyers.
Critics of the policy have claimed that:
"Without a surge in house building, low interest rates will push up house prices further, making it harder for renters to save for a deposit on a home."
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Responding to the DWP Consultation: Housing Benefit Reform - Supported Housing "It was well-run, in a good location, and very useful. I've only one suggestion; as the session went on it would perhaps have been useful for bullet points of general agreement about what should be in the sector response to be displayed and added to as the session went on, maybe on a flip chart. Regarding your response paper, I particularly like the answer you give to question 9. In fact the general: "if it ain't broke don't fix it" response could be pushed harder." M.P. - Adref Ltd
