Property News · January 7, 2018

Is the property ladder just a myth?


The theory is that a couple owning a starter home and considering children could afford to move into a bigger property – but with household income falling, that idea is increasingly unrealisticEstate agents are sure to emphasise a property’s suitability for a certain customer: “the perfect starter flat”; “lovely family home”; “suitable for someone looking to downsize”. But is the property “ladder” – the idea that, in an average lifetime, homeowners will own different homes according to their needs – a thing of the past?In theory, a couple owning a starter home and considering children would find they could afford to move to a bigger – and most likely more expensive property – because their household income would have increased through salary growth and career progression. But with household income falling at the fastest rate since 1976, wage stagnation and the squeeze on the cost of living, the option for many may be dwindling. Continue reading…

Source : theguardian.com
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