No silver lining for first-time home buyers even if prices collapse

Resolution Foundation warns that coronavirus pandemic will widen pre-existing inequalities

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First-time buyers in Britain will struggle to get on the property ladder even if the coronavirus recession triggers a collapse in house prices, a leading thinktank has warned.

Sounding the alarm after Britain’s economy plunged into the deepest recession since records began, the Resolution Foundation said house prices could fall by more than a fifth by summer next year.

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from The Guardian https://ift.tt/31LSNJJ