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Repossession and Recession Result In Fewer Young Home Owners

Just a quick one today and a shocking eye-opener for anyone considering buying their first home…

The Council of Mortgage Lenders (CML) has conducted research that suggests around 80% of all people under 30 need financial help from a relative to buy a house. But get this – before the recession and repossession nightmare, this figure was almost half that, at 45%.

Ultimately, the CML have concluded that the likelihood of a 25-34 year-old buying a property at the moment is around half the level it was 10 years ago.

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This entry was posted on Monday, February 22nd, 2010 at 9:47 am and is filed under repossession. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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