Renting To Be 'Way of Life' For Young UK Families

Millions of young families are entering an era of insecurity in which renting becomes the norm, according to a report that warns of steep increases in the number of parents unable to buy their own homes.  The Cambridge University study says that if the British economy remains stagnant, just over one in four people – 27% – will be in "mortgaged home ownership" by 2025, compared with 43% in 1993-94 and 35% now.  Most alarmingly, it finds that it is no longer just young, single people who are locked out of the property market and forced into an under-regulated rental sector due to rising house prices, falling real wages and banks that are unwilling to lend.  The same difficulties are now besetting families with children, many of whom are paying half or more of their income in rent and, as a result, have little or nothing left at the end of the month to save for a deposit.  Download a copy of the report from the Resolution Foundation website.