Last year, wages outpaced house price growth, leading to a slight improvement in affordability for buyers in the UK, with first-time buyers still paying five times their annual salary for a property. Despite a decrease in mortgage rates, high borrowing costs remain a barrier to home ownership, with the average mortgage rates exceeding 5%. Data shows that 40% of first-time buyers received help with a deposit, mainly from family or friends, due to rising rents. Older homeowners also face challenges, with many facing higher mortgage costs as fixed-rate deals end, highlighting the importance of home ownership for retirement resilience.
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1 Stock That Turned $1,000 Into $163,000
Investors often focus on the technology sector for high returns, but other areas like retail can also yield significant gains. Since mid-July 1995, one retail stock has achieved a remarkable total return of over 16,000%, demonstrating the benefits of patience and compounding, making a $1,000 investment worth $163,000 today. Explain It To Me Like I'm 5: Some smart investors found a really good store to put their money in a long time ago, and now...
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