Stop blaming avocadoes for the housing crisis
There were a number of stories last year suggesting that mild-mannered millennials would be able to buy a home if they cut out the "flat whites" and stopped buying "avocado toast". As someone in "Generation X", I think they should also stop buying CDs and Nirvana posters at Woolworths.
More seriously, it feels like the housing crisis in various UK regions, along with the frankly scary levels of debt that graduates in particular now have to take on, are going to have much more of an impact on saving for a deposit than leisure spending.
Some of the statistics in the linked article from Showhouse (referring to a survey from Bellway Homes) are bordering on depressing. Is it really right that 7 million UK residents think it is unrealistic to ever own a house?
In order to raise a deposit, Brits are prepared to give up nights out (35%), an annual holiday (35%) and takeaways (30%).
One in five Brits think you need to earn £70k or more in order to buy a one-bedroom apartment in London
4 Million Brits were 40 when they purchased their first home, despite many believing they would buy their first property at 32
54% of Brits have no one to help them with a deposit
More than 7m Brits don't see themselves owning a house and over 3m only see themselves being able to afford a one-bedroom apartment
45% of 16-24-year olds think the Government should be doing more to help them get on the property ladder
”
