Quote Originally Posted by noel View Post
Excellent. Does that mean young people might be able to afford to buy a house, rather than being forced into rental accommodation? We need wealthy people to be putting money into making the UK competitive, not ruining things for the working young.
Here in suburban Blackburn and across much of Lancashire you can buy a decent 2 bed starter home, a terrace with a back yard / garden area for 50-60K.

2 people working 35 hours on MW is circa £30k joint income and they could acquire a mortgage of up to £75k.

A 60K mortgage over 25 years is £300 per month give or take. That's cheaper than renting.

I think the issue with many young people is they do not prioritise house buying anymore. Technology, holidays, gap years, a car.... all items that are higher profile for the typical 18-30 years old. It isn't that most can't buy, it is that most prioritise material items and lifestyle above saving for a deposit.