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Britons Struggle to Save for Home Down Payments as Prices Surge
Most Britons between the ages of 20 and 45 who want to buy a home aren’t able to save money to put towards a down payment, excluding them from the strongest U.K. property market in 3 1/2 years. Those who say they’re unable to save anything for a deposit on a home rose to 57 percent from 42 percent a year earlier, according to a survey by mortgage lender Halifax. One in five U.K. residents between the ages of 23 and 27 has no interest in buying somewhere to live, the survey of more than 8,000 people showed. Record-low interest rates, credit-boosting programs and a lack of supply are fueling price increases, making ... (full story)