Why Can't Young Brits Afford a House Anymore?

In this video, we explain why young people in Britain can't afford a house anymore, how buy-to-let mortgages and quantitative easing turned homes into investments, and why house prices rose from four times to eight times income. Housing in Britain broke in the late 1990s, when the average house went from around three and a half times a salary to roughly eight times today. The deeper cause is not just a shortage of homes but a change in what a house is: the buy-to-let mortgage, invented in 1996, and £895 billion of quantitative easing turned the home into an asset to store wealth. What's covered in this video: How UK house prices rose from around 3.5 times income in 1997 to roughly 8 times today, and nearly 13 times in London. Why the housing shortage is only half the story, and how Britain stopped building after 1980. How interest rates falling from 6 per cent to near zero, and £895 billion of quantitative easing, poured money into house prices. How the buy-to-let mortgage, launched on 24 September 1996, let investors outbid first-time buyers on the same starter homes. How the Help to Buy scheme raised prices by letting developers charge more, according to the Institute for Fiscal Studies. Why governments protect high house prices, and how the Bank of Mum and Dad now funds around half of all first-time buyers. Mentioned in this video: buy-to-let mortgage, quantitative easing, Bank of England, Help to Buy, Right to Buy, Institute for Fiscal Studies, Office for National Statistics, Savills, Bank of Mum and Dad, ARLA, Paragon, NatWest, London. Sources: https://www.ons.gov.uk/peoplepopulati... https://ifs.org.uk/articles/who-benef... https://www.bankofengland.co.uk/monet... https://iea.org.uk/1997-the-last-year... #HousingCrisis #BuyToLet #UKHousing #FirstTimeBuyer #QuantitativeEasing #HousePrices #Generation #BankOfMumAndDad