Social Mobility

Most young Britons say rising barriers to home ownership are dividing the country socially and economically, and one in five has abandoned the dream of ever owning a property, a survey by mortgage provider Halifax said.Over 70 percent of 8,051 survey respondents said the country was being split between those who could and those who couldn't buy a home, which in the long run could impact neighborhoods, families and the job market, the Lloyds Banking Group-owned lender said on Monday.The respondents, aged between 25 and 40, said the effects included leaving their generation without sufficient resources for retirement, affecting social mobility and widening the country's wealth gap.House prices rose steeply in Britain from the late 1990s until the global financial crisis broke in 2008, and they have been kept high by a combination of factors, including historically low interest rates and shared ownership schemes."Home ownership is clearly still an important goal for a lot of people, but f...

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