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You and Yours: 29/06/2010

29/06/2010

BBC Radio 4 - You and Yours, 29/06/2010

Consumer news with Julian Worricker. Will home owning be a luxury for future generations?

Consumer news and issues with Julian Worricker. First time buyers are struggling to get on the property ladder. Will the next generation be renters and not buyers?

Call You & Yours with Julian Worricker. Getting onto the property ladder is getting tougher. The number of first time buyers is dropping by the month. It will be a decade or more until we have paid back what we owe as a nation and the banks and building societies are unlikely to return to lending with quite the abandon of recent years. 

It's reckoned we need to be building a quarter of a million homes a year to meet the likely demand in 2030. This year new builds are likely to be around the 100,000 mark- the lowest number of new homes since 1923. Does this mean that home owning will become a luxury rather than commonplace in future, or at the very least difficult to achieve?

If so, is this a bad thing? Elsewhere in Europe renting is more commonplace and does not carry the stigma that it does in this country. Do we need to develop a more positive attitude to renting? Will the next generation facing student loan repayments, less generous pension provision and more expensive energy bills have a choice?

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