Boris Johnson speech on cost of living crisis

The video discusses strategies to unlock small sites for development, focusing on first-time buyers and key workers. It highlights the support for self-build and custom homes, and the use of existing planning rights to convert disused agricultural buildings into homes. The video also addresses the financial challenges faced by first-time buyers, noting the significant increase in housing costs relative to income over the years. It emphasizes the difficulty of saving for a deposit due to rising house prices and the global cost of living, and suggests making mortgages more accessible.

What is one of the government's priorities in unlocking small sites for development?

• Focusing on first-time buyers and key workers

• Building luxury apartments

• Creating more parking lots

• Developing commercial spaces

What is a proposed method to support farmers and local first-time buyers?

• Increasing agricultural subsidies

• Providing free land for farming

• Building new shopping malls

• Turning disused agricultural buildings into homes

How has the affordability of homes changed from 2002 to today?

• It has become easier to buy homes

• The income multiple required has decreased

• The income multiple required has doubled

• Home prices have remained stable

What is a major challenge for first-time buyers in saving for a home deposit?

• High rent payments

• Low interest rates

• Stable house prices

• Abundant housing supply

What additional factor is making it harder for savers to buy a home?

• Decreasing global population

• Rising global cost of living

• Lower education costs

• Increased job opportunities