A recent report by homeless charity Shelter says first time buyers are finding it 80% more difficult to purchase their first property than they were 10 years ago. It says first-time buyers in almost every English region are facing their most difficult struggle yet to secure their first home.
Shelter's chief executive Adam Sampson said: "For first-time buyers, the housing ladder is becoming a housing tightrope.
"Buying a home is becoming an ever-more distant dream for first-time buyers and as housing becomes increasingly unaffordable, repossessions are likely to spiral and more families will face the nightmare of homelessness."
Mr Sampson added: "Spiralling house prices are forcing first-time buyers into taking drastic measures to get onto the housing ladder, like signing up to lifetime mortgages at six or seven times their salary.
"It's no wonder mortgage arrears and repossession problems seen by Shelter have more than doubled in the last two years, and we received more than 70,000 hits on our repossession web pages in 2006."
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