7.1 - Sustainable Economy Flashcards by Conor Horgan | Brainscape

Q

Boomerang generation definition

A

Those that leave their parents’ home and then need to return because they cannot afford to rent or buy a home of their own

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

The effect of the extremely low bank rate:

A

Low returns on savings
Low charges on borrowing products
People are uncertain about if their financial plans are sustainable in the long term

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

Factors affecting home affordability:

A

Private rental prices rising
UK average earnings in real terms falling
Mortgage income multiple that first time buyers pay increasing

How well did you know this?

1

Not at all

2

3

4

5

Perfectly