Monday 8 December 2014

The home stretch – coping with high housing costs

Buying or renting a home in many parts of the country is a financial challenge for families on modest incomes. How then do these families continue to live in some of the most expensive parts of the country? What coping strategies can make the seemingly unaffordable financially possible, at what personal cost to the families concerned and to what extent are even these strategies now running out of road in some of the highest demand parts of the country.

The Resolution Foundation presented their latest analysis on the affordability of housing across local authorities in Britain, looking in particular at how households cope with seemingly unaffordable housing costs. The panel debated whether these strategies are sustainable in the face of interest rate rises and mounting house prices and the solutions to Britain’s ongoing housing affordability challenge.