BBCNEWS Newsnight June 4, 2024 22:04:00
Is still far out of reach for many prospective house buyers. that price of £287,500 is more than eight times the average household's income. while that remains the case, home ownership rates are likely to continue to stagnate, if not fall. and look how they've plummeted among the young. in 2003, 60% of 25—34 year olds were owner occupiers — now it's down to 40%. indeed, as you can see, owner occupation rates have fallen for every age group in the past two decades, except among the over 65s. but why does owning a house actually matter? well, there's evidence that, in this country at least,...