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01/09/2014
Parents Fear Children Won't Be Able To Afford Their Own Homes
Parents' hopes for their childrens' futures are being clouded by fears they will never be able to afford their own home, according to a new YouGov poll for the National Housing Federation (NHF).
Eight out of ten parents are worried about the impact of rising house prices on the next generation, while 80% don't think any of the mainstream political parties will effectively deal with housing.
Many parents are making the effort to give the next generation help, with a quarter already saving money specifically for their children's first home. At the same time, more than one in 20 are still reliant on hand outs from their own parents to help with spiralling housing costs.
The National Housing Federation predicts that by 2020 a staggering 3.7 million young people, today's school children will be living with parents and by 2030 house prices will soar to 13 times the average salary.
National Housing Federation chief executive, David Orr, said: "We can't let our children become the generation of lost opportunities. Parents should be looking forward to a bright and prosperous future for their children, but are quite rightly alarmed that they will be worse off than them.
"Children are facing the ticking time bomb of being priced out of the communities where they've grown up, and unless they are able to borrow from the 'bank of mum and dad' many will face living in their childhood bedrooms well into adulthood or renting for the rest of their lives."
(CD/JP)
Eight out of ten parents are worried about the impact of rising house prices on the next generation, while 80% don't think any of the mainstream political parties will effectively deal with housing.
Many parents are making the effort to give the next generation help, with a quarter already saving money specifically for their children's first home. At the same time, more than one in 20 are still reliant on hand outs from their own parents to help with spiralling housing costs.
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The National Housing Federation predicts that by 2020 a staggering 3.7 million young people, today's school children will be living with parents and by 2030 house prices will soar to 13 times the average salary.
National Housing Federation chief executive, David Orr, said: "We can't let our children become the generation of lost opportunities. Parents should be looking forward to a bright and prosperous future for their children, but are quite rightly alarmed that they will be worse off than them.
"Children are facing the ticking time bomb of being priced out of the communities where they've grown up, and unless they are able to borrow from the 'bank of mum and dad' many will face living in their childhood bedrooms well into adulthood or renting for the rest of their lives."
(CD/JP)
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