Home ownership has now become “unaffordable” to people on
middle incomes, Vince Cable admitted, as he warned that the bubble developing
in the housing market could be more serious than during the last property
crash. Amid growing tension between the Conservatives and Liberal Democrats
over rising house prices, the Business Secretary told The Independent: “The
fundamental problem is a chronic imbalance between supply and demand. A
recovering mortgage market is just fuelling demand again.” Mr Cable warned: “A
family on average income is nowhere near able to afford a house at the average
price. Property has become much more unaffordable for people on middle
incomes.” Read more on the Independent website.
No comments:
Post a Comment