Young Adults Face Housing Squeeze

A growing proportion of young people have been squeezed out of the housing market in England and are renting privately instead, a report suggests. The financial crisis saw a fall in the proportion of the under 35s owning their own home, the English Housing Survey shows. Some 21% of people in this age bracket were mortgage holders in 2008-09. However, this fell to 18% in 2012-13, with more renting privately, and so paying more of their income on housing. Private renters aged 25 to 34 increased from 31% in 2008-09 to 45% in 2012-13, the report said. On average, owner occupiers buying with a home loan spent 20% of their income on their mortgage in 2012-13. Meanwhile, private tenants spent 40% of their income on their rent. Read more on the BBC website.