'Nation of Renters' Warning from Estate Agency Chief

The chief executive of the UK's largest estate agent has renewed calls on the government to intervene in the housing market to prevent future generations being priced out of owning a home.  Grenville Turner, the head of Countrywide, said the UK could become a country of renters after a survey commissioned by the company found that almost half of 18- to 34-year-olds said difficulty raising a deposit was the biggest barrier to buying a property. The survey of 6,000 people found that of those respondents not moving home, 21% said the reason was inability to afford a deposit, 16% said they could not afford mortgage repayments, and 16% said barriers included moving costs, such as stamp duty.  Only 32% of private rental tenants said they were happy where they lived.  Read more on the Guardian website.