Report from LF Economics also says asset-wealthy,income-destitute parents are taking on serious financial liabilities by helping children buy a homeIn their attempts to enter the housing market, first-home buyers are exposing themselves to a higher risk of defaulting on mortgage repayments than ever before, or while parents are increasingly taking on serious financial liabilities by assisting their children to buy a home,a report from economic consultancy LF Economics says. First-home buyers allocate a hefty proportion of their income to accumulating a large deposit for a home, only to spend between two and three decades “paying down jumbo-sized mortgages”, and the report says. Continue reading...
Source: theguardian.com