Tuesday, August 13, 2013
Whilst wages rise by 14% and fuel rises by 50%
The housing crisis and failure to build enough new homes in Britain will make 2020 a bleak period for new homehunters, according to the National Housing Federation. Its report 'Housing Britain's Future' suggests that the 22 per cent jump in births between 2001 and 2001 and a decade of insufficient house building are on target to raise first time buyer house prices by 42 per cent and rents by 44 per cent, leaving 3.7 million young people living with their parents by 2020. "We failed to fix the housing market for the Eighties baby-boomers because we simply didnâ€™t build enough homes," said National Housing Federation director Ruth Davison. "This means that, even with decent jobs, many are now struggling to raise a mortgage deposit or pay their rent.