There's interesting research by a York University professor (for Hometrack) that shows that at current levels 28% of young people are unable to buy anything locally. A 10% drop in house prices will help out a fifth of those, leaving the figure at 22.5%. But as house prices fall, the cost of buying (arranging and servicing a mortgage) continues to rise, and is currently higher than in 1990 (the peak of the previous boom), up 12% on this time last year. More here.

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