resolution foundation

The coronavirus crisis has placed more barriers to homeownership in front of young people, regardless of expected falls in house prices, says the Resolution Foundation.

Lower income households are twice as likely as high income households to have increased their use of consumer credit during the crisis, and are 50 per cent more likely to be saving less than usual.

The bottom 30 per cent of earners are more than twice as likely to be employed in key workers sectors as the top 10 per cent.

New measures must be introduced immediately to limit the rise in unemployment, and cushion the income shock for those who will unavoidably lose their jobs.