Adult children still rely on parents for financial support

 

“A 20% rise in the number of 20 to 34-year-olds living with their parents says all you need to know about the property market and economy – they’re broken,” says Nicholas Ayre of buying agents Home Fusion. “Property ownership is a pipe dream for the majority of today’s young adults while rents are at astronomical levels.”

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Adult children still rely on parents for financial support

 

“A 20% rise in the number of 20 to 34-year-olds living with their parents says all you need to know about the property market and economy – they’re broken,” says Nicholas Ayre of buying agents Home Fusion. “Property ownership is a pipe dream for the majority of today’s young adults while rents are at astronomical levels.”

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The generation that can’t afford to move out: 20% more young adults stuck with mum and dad as house prices soar

 

Nicholas Ayre of UK buying agents, Home Fusion, said that the ONS figures, ‘say all you need to know about the property market and economy – they’re broken. Property ownership is a pipe dream for the majority of today’s young adults while rents are at astronomical levels. Renting was once the default option for people who were saving to own their own homes. Now it’s a luxury. For a huge number of today’s young people, the only option, quite clearly, is to live with their parents.’

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House Prices April 2012

 

Nicholas Ayre, from buying agents Home Fusion said that “house prices are being dragged down by the full weight of consumer caution and economic uncertainty and the nationwide are or thereabouts when they say prices will stagnate over the course of the next year” he also added “my feeling is that this is the most positive scenario”.

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