UK: Home Owners To Hit Lowest Level Since 80s

[Letsbereal]

Home Owners To Hit Lowest Level Since 80s
30 August 2011, (Sky News)
http://news.sky.com/home/uk-news/article/16059054

Excerpt:

Home ownership will fall to its lowest level since the mid-1980s over the next decade, a new study has found.

The National Housing Federation said the number of property owners will drop to just 63.8% as house prices soar, compared to 72.5% in 2001.

The study says rising prices, the need for huge deposits and a tightening of lending criteria will force ownership numbers down.

It also predicts prices in the rental market will increase sharply as people struggle to own their own home.

The group, which represents housing associations in England, says a shortage of homes in the UK is also to blame.