No cash - no home - the dilemma for many
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- Published:Monday, October 30th, 2006
17 million people can not afford or do not want to own a property, research from Abbey has suggested.
The main reason for not being able to own a home was put down to lack of cash leaving those aspiring for their own home stuck renting. Another reason was the desire not to financially over-commit.
Next reason for keeping out of the property market is the belief that house prices will be falling soon.
Abbey spokesperson Nici Audham Gardiner said “There are people who feel that they do not want to get on the property ladder, but those who do face many barriers of which the most notable is the cost of homes.”
“However, there other more surprising results, for example, job security, lack of time and finding the right mortgage.”
Abbey interviewed more than 1,000 people and applied its findings to the UK adult population as a whole.
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