It is fair to say that we are all aware of the house-buying crisis facing millennials, writes Sarah Bateman, but technology that could help 'generation rent' save for their first homes is struggling to rid itself of a fundamental flaw
House prices in some parts of the country are so high that it is almost impossible to buy a first home. Millennials are not stupid and they understand the need to save, but putting part of their wages away is no longer enough. Indeed, the advice to only invest what you are prepared to lose is tricky when low-risk investments appear to make the dream of owning a home impossible. So, it is imperative for millennials to make their savings work hard, but how can they achieve this? There are alternative finance vehicles that have a maverick appeal but are accompanied by high levels of risk...
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