How can a young person hope to get on the housing ladder? That amount is likely to be 10 to 15 times of a starting salary.
It's not a good idea to borrow more than 3 or 4 times your salary, because repayments quickly become unaffordable, but if you earn £20k, what can you get for £80k? Nothing.
Young people will be forever trapped in the rental market, unless they are lucky to have families who can help them out.
There were other challenges when you bought a house, but I'm pretty sure - on balance, it wouldn't have been anywhere near as difficult as it is for youngsters now.
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