Young families ‘locked out’ of owning a home

Would-be first-time buyers face a 10-year wait before they can get on the property ladder, according to Shelter, and some may never have the prospect of buying their own home.For single people the potential wait rises to 14 years, highlighting the “toll” the housing crisis is taking on people across England, the charity said. These long waits for ‘generation rent’ to get on the housing ladder mean a significant shift in the way young people are living their lives – and will have an impact on families all over the country. Many young people will be left trapped in uncertain private renting, facing years of soaring rents, short-term lets, and unexpected letting agent fees. Others will have to live up to the reality that living with mum and dad – even into their mid-thirties – might be the only option left. 'locked out owning a home'