5 years of coalition government smash hopes of home ownership for young

This marks the end of one of the planks of Thatcherism. She dreamed of transforming Britain into a home-owning capitalist society, unlike those benighted foreigners on the continent, where renting is the norm. Hence the sale of the council houses.

This has now gone, and as a result, Britain’s younger generation have no hope of owning their own homes.

Pride's Purge

Figures out today show 79% of 20 to 45-year-olds in the UK have now given up on owning their own home because they’re convinced banks do not want to lend to first-time buyers.

And after 5 years of Tory/Lib Dem government, 21% of young people* now think it will be“virtually impossible” for them to ever obtain a mortgage.

And a devastating 82% of 20 to 45-year-olds in London say they are worried they will never be able to buy a house:

Generation rent downbeat on buying outlook

That’s what 5 years of spiv economics – designed to benefit only the very very rich and create job insecurity and falling wages for the rest of us  – does for you.

It’s not rocket science.

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* why do surveys like this always dismissively classify all people from 20 to 45 years old as ‘young’?

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