| From Economist.com: Housing in Britain is a hot issue. For all the economic gloom, prices are still so high that ever fewer young people can afford to buy a first home. As the chart shows, those who do are taking out mortgages that represent an increasing multiple of their income—and that is after coming up with a bigger down payment.
Paradoxically, many parents of would-be buyers are vehemently opposed to new housing developments in their own backyard, “without seeing the disconnect”, notes a planning expert. But Mr Oxley thinks the volume of new housing is only one factor affecting the real issue, which is affordability, or rather the lack of it..............................................Full Article: Source
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