Millions of young families are entering an era of insecurity in which renting becomes the norm, according to a report that warns of steep increases in the number of parents unable to buy their own homes.
The Cambridge University study, obtained by the Observer, says that if the British economy remains stagnant, just over one in four people – 27% – will be in "mortgaged home ownership" by 2025, compared with 43% in 1993-94 and 35% now.
Most alarmingly, it finds that it is no longer just young, single people who are locked out of the property market and forced into an under-regulated rental sector due to rising house prices, falling real wages and banks that are unwilling to lend.
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