800 Grand to Live in a Cardboard Box

A detailed Summary of 800 Grand to Live in a Cardboard Box

I have chosen to do my project on the property boom that has shook the UK in the past 5 years. Some people may not believe this is an issue, but with the average house price now standing at L169, 300, a rise of 91% in 5 years, its an issue most chose to ignore.

How my generation are supposed to own their own property is the question this project will look at. With the average 27 year old earning less then 20 thousand a year, it seems an impossibility. An under 25, earns, on average less then 15 thousand,, this makes buying a house even more statistically remote, pricing us out of all but 3 of England's 388 council areas. We would need a mortgage of almost 6 and a half times our salary for our first home and this could be hampered even more by student debts. The average graduate debt is close to L10,000.

Teachers and nurses are particularly in danger of being priced out of this market. Anna O'Raw has been a prima

Shocking as these figures may seem, its due to the lack of affordable housing that these people are where they are. Drugs & alcohol for some wasn't even a factor, they are homeless because they cannot afford a home, without a home they cannot get a job, without a job they have no money and the cycle continues.

But what is keeping the house prices so high ? Well housing may be expensive but borrowing is still cheap. Mortgage rates are at their lowest for years, This means people can afford much bigger mortgages than they could if interest rates were higher.

Think I'm exaggerating? Maybe making it sound a little far fetched to make the project seem more relevant? Think again. Only a matter of weeks ago, a trailer home, basically a slash between a caravan and a bungalow, sold for L100,000, 3 times as much as it cost to build just 2 years ago. The owner of this two-bed caravan admitted that 'The property market is ludicrous'

In many

Some common words found in the essay are:
Crisis GCS's, , Anna O'Raw, L10000 Teachers, means people, house prices, 2 ago,

Approximate Word count = 634
Approximate Pages = 3 (250 words per page double spaced)

Category: Miscellaneous

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