Britain's housing market is facing a "perfect storm" with potential buyers and sellers left in limbo and property prices flat lining, ITV’s Tonight programme has been told.
It is five years since the UK was hit by a credit crunch that has strangled Britain’s housing market.
Since then, despite house prices that are barely moving and some mortgages that have never been cheaper, millions of people are finding it almost impossible to buy or sell.
The sorry story starts with people who are desperate to get a first foot on the ladder - people like Brighton newlyweds Ivan and Lauren Pinney.
In a time of sky-high rents, the only conceivable way these wanna-be first time buyers can save for a deposit, is to give up their rented flat and become "boomerang kids".
They are among a growing generation of young adults who have moved back to mum and dad’s to save cash.
Ivan explains:
The plan is to save £20,000 over two years which was completely out of the realms of reality when we were staying in rented accommodation.But they are not the only type of household who are facing a long wait.
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