Credit crunch forcing young people off property ladder

Daily Record reports on Scotland:

MORE and more adults are staying at home with their parents because they can't afford to buy their own property.

Rising house prices and the credit crunch means that one in 10 households in Scotland have a working age adult living with their parents.

And these people are choosing to stay at home rather than waste thousands of pounds renting or getting into increasing levels of debt to buy their own place.

According to figures from the Office for National Statistics, there are now 8000 more people staying at home than five years ago, and experts have blamed the rise on increasing house prices and mortgage problems.

The current figures, which mean there are now 204, 983 adults living with their parents in Scotland, also reflects a recent report which showed the average age for first time buyers in Scotland is now 37.