Saving priorities reflect home ownership challenge
Buying a house is among the most expensive investments many of us will make. It has also become one of the multiple items we save for during our lifetime. But where housing comes on this list of priorities has changed in line with today's pricey housing market
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Executive summary
The perceived challenge of becoming a first-time homebuyer has heightened to such a degree that saving for such an event is not a priority for many, but just one of multiple financial goals.
Our latest Homes and Mortgages ING International Survey explores in greater detail how and why people’s attitudes towards saving to get onto the property ladder are changing to reflect a market perceived to be expensive and inaccessible. As the price of property continues to rise across most of the western world, surpassing the pace of wages, many are entering the property market later in life and significant numbers of people say they are reassessing how they prioritise their saving funds.
Much of the cause for concern is levelled at limited accessibility and the way governments run their respective housing markets. More than half of those surveyed, for example, believe their country is heading down the ‘wrong track’.
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