10.12.2012 - Generation rent: Why millions are locked out of owning homes
Soaring property prices and a mortgage famine are having a radical social impact on the way renters live their life. It is a situation replicated across the country where a major transformation is taking place in the housing market and renting is becoming the new norm. The number of households renting in the private sector has more than doubled since the mid-90s, from 8% to 17%, according to Shelter. Traditionally the private rental market was mainly the preserve of students and young professionals but in recent years they have been joined by ever increasing numbers of young families and people in their 30s, 40s and 50s. Of households renting privately, one-third are families and nearly half are over 35, with one in three aged over 45...............................................Full Article: Source
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