It used to take 3 years for a British family to save for a home down-payment; now it takes 20 years

But 15 years ago the interest rates were still only about 5-6%, whereas when your parents were buying they were probably 12-15%. Lower interest rates have a lot to do with it.

I agree there are lots of other factors such as speculation and real increase in the value of land in cities. But massive drops in interest rates are definitely a factor.

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