Housing minister Grant Shapps has expressed his hope that house prices will become more affordable in the long term.
Mr Shapps said it was "horrendous" that house price growth had outstripped earnings since the 1990s.
"This government absolutely supports peoples' aspiration to own a home," he said.
"But we also believe that (property) should be primarily thought of as a place to be your home."
The MP for Welwyn Hatfield told the paper he wanted people to look to investments that are supposed to offer security in old age, rather than rely on housing.
He described the rise in prices between 1997 and 2007 as a "crazy period", which had left many younger people struggling to buy a home.
Source: BBC (2/01/2011) | Posted on: 18/01/2011 |