ANSWERS: 4
  • It is true to some extent, but not nearly as bad in most parts of the US as in the UK. My cousin and her fiance' are in London. She is 27 he is 35(ish) and they have 100,000 pound saved for a house. She works a middle-wage job and he was working in an insurance firm but was laid off. They STILL can't afford anything they actually want, even with all that money in the bank! Here in the states, we have far more housing choices and we have more lienient loan programs with debt to income ratios up to 50% (and higher upon approval). We also have a somewhat more stable job market with a lower unemployement rate - which helps towards mortgaging a home. Property values are going down lots of places here, but not rapidly enough to allow young, first time buyers to just walk in. Some places here are still rising (slowly).
  • It is the same in my part of the United States right now.
  • Yes it is very hard in the part of the US where I live.
  • We have the exact same situation in Australia. The property market is crazy at the moment. At this rate I'll still be living with my parents when I'm thirty!

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