bought a house and started a family. But the  story today is very different .

買了房子，組建了家庭。但是，今天的故事是非常不同的。

The number of  young people living with their parents has  been on the rise since the turn of the century.

自本世紀初以來，與父母同住的年輕人數量一直在上升。

In fact the number of 20 to 34 year olds living  at home has grown by nearly 50 percent since 2002.

事實上，自2002年以來，20至34歲的人住在家裡的人數已經增長了近50%。

The housing system in London really is a pretty  disastrous system for most people and certainly

對大多數人來說，倫敦的住房系統確實是一個相當災難性的系統，當然

at least half the population, they are  paying through the nose.

至少有一半的人，他們正在通過鼻子支付。

I don't think  it's like realistic to think about how I could save to buy a home unless I change jobs and  like you know climb that ladder.

我不認為考慮我如何能存錢買房是現實的，除非我換工作，像你知道的那樣爬上那個梯子。

So why is it so hard to get on the London property ladder?

那麼，為什麼在倫敦的房產階梯上這麼難呢？

Home ownership hasn't always been a national obsession.

房屋所有權並不總是一個國家的痴迷。

A century ago three quarters of the UK rented the place they lived. Now only about a third of the country's  households are renting.

一個世紀前，英國有四分之三的人租房居住。現在，全國只有約三分之一的家庭在租房。

But those that are have a serious disadvantage if they ever hope to own.

但那些人如果希望擁有，就會有嚴重的劣勢。

To understand how we got here, let's rewind  back to a pivotal part of the country's history: the second world war.

為了瞭解我們是如何走到這一步的，讓我們倒退到國家歷史的一個關鍵部分：第二次世界大戰。

The country which was heavily bombed during the conflict began a period of rebuilding and repairing between 1945 and 1951.

這個在衝突期間遭到嚴重轟炸的國家在1945年至1951年期間開始了重建和修復的時期。

The government launched an ambitious building  program of homes to rent at controlled prices.

政府啟動了一項雄心勃勃的住房建設計劃，以控制價格出租。

Prime Minister Clement Attlee's government built more than one million houses during this period

克萊門特-阿特利總理的政府在這一時期建造了超過一百萬套房屋

By the 1970s, one out of every four London households was living

到20世紀70年代，每四個倫敦家庭中就有一個生活在

in an affordable social rented accommodation, also known as a council house.

在負擔得起的社會租賃住房中，也被稱為委員會住房。

But 1979 changed everything.

但1979年改變了一切。

To all the British people, how so ever they voted,  may i say this now that the election is over

對所有英國人民，無論他們如何投票，現在選舉結束了，我想說的是

may we get together and strive to serve and  strengthen the country of which we are so proud.

願我們聚在一起，努力服務和加強我們引以為豪的國家。

Margaret Thatcher was elected prime minister less  than a year later she introduced an act allowing

瑪格麗特-撒切爾當選為總理不到一年，她就提出了一項法案，允許

tenants in social housing to buy their homes from the government, moving these houses from the public to the private sector.

社會住房的租戶向政府購買他們的房屋，將這些房屋從公共領域轉移到私營部門。

She also eliminated the rental cap, which meant prices were vulnerable to the whims of the market.

她還取消了租金上限，這意味著價格容易受到市場的影響。

Her policies initially increased home ownership among the working class in London.

她的政策最初增加了倫敦工人階級的住房所有權。

But eventually lower and middle income workers began to see

但最終中低等收入的工人開始看到

the drawbacks of being thrust  into the competitive private housing market.

被推入競爭激烈的私人住房市場的弊端。

It became much worse for tenants but much more attractive for landlords

對租戶來說，情況變得更糟，但對房東來說卻更有吸引力。

and that sector began to grow and it grew from the mid-1980s right through till now.

該部門開始增長，並從80年代中期一直增長到現在。

Rents which take up 30 or 40 or 50% of their salary so they're not in a position

房租佔了他們工資的30、40或50%，所以他們沒有能力

to save the money you need to break into the ownership system.

以節省你需要打入所有權系統的資金。

So we have if you like disgruntled people, but particularly young adults who are really not being served by this system at all.

是以，如果你喜歡，我們有不滿的人，但特別是年輕的成年人，他們真的沒有得到這個系統的服務。

This graph shows the relationship between private  rentals and home ownership in London.

這張圖顯示了倫敦的私人租房和房屋所有權之間的關係。

When Thatcher took office private rentals were declining  steadily while home ownership with a mortgage was on the rise.

撒切爾上臺後，私人租房在穩步下降，而有抵押貸款的房屋所有權卻在上升。

By the end of her time in 1990, this changed dramatically.

到1990年她的任期結束時，這種情況發生了巨大的變化。

Private rentals rose while those owning homes with a mortgage dwindled.

私人租房上升，而擁有抵押貸款的房屋的人卻在減少。

More than 30 years later for the first time in decades, there were more London households

30多年後的今天，幾十年來第一次有更多的倫敦家庭

privately renting than owning a home with a mortgage.

私人租房比擁有抵押貸款的房屋要好。

Thatcher also weakened trade unions a platform  workers used to demand better work conditions and pay.

撒切爾還削弱了工會，而工會是工人用來要求改善工作條件和薪酬的平臺。

All she's on she is on about are these high tech... you know going to college and all this

她一直在談論這些高科技......你知道上大學和所有這些。

I'm thick, I'm not a college man. I'm a labourer and all I want is a labourer's job. She took them all away!

我很粗，我不是一個大學生。我是個工人，我想要的只是一份工人的工作。她把他們都帶走了!

She felt these unions were too powerful and made  British companies less competitive on the global stage.

她認為這些工會過於強大，使英國公司在全球舞臺上的競爭力下降。

Her plan worked. Well, somewhat.

她的計劃成功了。嗯，有點兒。

British firms did become more competitive but salary growth across the country declined from about 17% in 1979 to just over 10 in 1990

英國公司確實變得更有競爭力，但全國的工資增長從1979年的約17%下降到1990年的略高於10%。

and it has continued to decline today.

而且今天還在繼續下降。

In London, the average house price in the 1980s was something like three or four times the average salary,

在倫敦，1980年代的平均房價是平均工資的三到四倍左右。

but now in London, it's something like 13 times the average salary.

但現在在倫敦，它是平均工資的13倍左右。

Jonathan Oomen is a 30-year-old Londoner who has felt the sting of high rents and low salaries

Jonathan Oomen是一名30歲的倫敦人，他感受到了高租金和低工資的刺痛。

Buying a home seems very far out of his reach.

買房似乎離他的目標非常遙遠。

If I'm attempting to save it's like straight away as soon as the paycheck comes in it's going into savings by the end of the month

如果我試圖儲蓄，就會在月底之前，工資一到手，就直接進入儲蓄。

You're thinking  right okay, I've gotta need to like take another 50 quid back out or another 100 quid out just to get  through,

你在想，好吧，我得再拿50鎊回來，或者再拿100鎊出來，才能過關。

so it's kind of demoralizing I suppose, but  if I wasn't to leave London I don't imagine that

所以我想這是一種士氣低落，但如果我不離開倫敦，我不認為會有什麼問題。

I would even consider the idea of at this stage  of my life of like thinking to like save for that

我甚至會考慮在我生命的這個階段，把喜歡的思想保存下來的想法。

The financial crisis in 2007 and the bursting of the US bubble marked another turning point in London's property market.

2007年的金融危機和美國保麗龍的破滅標誌著倫敦房地產市場的另一個轉捩點。

The housing borrowing and lending system collapsed because

住房借款和貸款系統崩潰的原因是

low quality debts had been bundled and sold as securities on the global markets by banks as though it was reliable but it wasn't.

低質量的債務被銀行捆綁起來，作為證券在全球市場上出售，好像它是可靠的，但它不是。

The crisis triggered in North America was so bad in the UK,

在北美引發的危機在英國是如此糟糕。

that the country's finance minister at the time  said there was a danger of a breakdown in law and order,

當時該國的財政部長說，存在著法律和秩序崩潰的危險。

hours after the government bailed out one of its troubled banks.

在政府對其一家陷入困境的銀行進行救助的幾個小時後。

The British government devised a rescue plan that involved buying some of this bad debt in exchange for stakes in these banks.

英國政府制定了一項救援計劃，涉及購買這些壞賬的一部分，以換取這些銀行的股權。

By 2011, London had bounced back faster than many  other cities in the country and around the world.

到2011年，倫敦的反彈速度比該國和世界各地的許多其他城市要快。

Many of us in London had expected at the time of  the financial crisis that the economy of London

我們倫敦的許多人在金融危機發生時曾預計，倫敦的經濟

would really suffer because it was so dependent on  this financial sector and the financial sector had

將真正受到影響，因為它是如此依賴這個金融部門，而金融部門已經

really behaved so badly we thought a lot of it  will shrink here but because of the generosity

真的表現得如此糟糕，我們認為很多東西會在這裡縮水，但由於慷慨的

and scale of this government rescue of the  banking system actually London did very well.

政府對銀行系統的這種救援的規模，實際上倫敦做得非常好。

The rebound cemented the capital as a stable  market for investments and attracted several real estate buyers.

反彈鞏固了首都作為一個穩定的投資市場，吸引了一些房地產買家。

These investors bought up several homes in the city either for rental income or for its resale value as house prices appreciated.

這些投資者在該市購買了幾處房屋，要麼是為了租金收入，要麼是為了房價升值後的轉售價值。

Another thing attracting investors? Paying less on property taxes.

另一件吸引投資者的事情？ 支付更少的房產稅。

In New York for example, if you own a luxurious apartment in an expensive district in Manhattan,

以紐約為例，如果你在曼哈頓的一個昂貴區擁有一套豪華公寓。

you could be paying thousands and  thousands of dollars a year in property tax,

你每年可能要支付數千美元的房產稅。

quite a significant percentage of its value - which is not the case here.

相當大比例的價值--這裡的情況並非如此。

The most you can have to pay in London in annual property tax is in the range of two or three thousand pounds a year.

在倫敦，你每年需要支付的房產稅最多也就在兩三千英鎊左右。

Some of the most attractive areas to these  investors are the boroughs of Westminster,

對這些投資者最有吸引力的一些地區是威斯敏斯特區。

and Kensington and Chelsea in West London, where  rows of investment houses lie vacant.

以及倫敦西部的肯辛頓和切爾西，那裡有一排排空置的投資房。

It's not very transparent but it's pretty clear that investing  in London housing has been very attractive to investors.

這不是很透明，但很明顯，投資倫敦的住房對投資者有很大的吸引力。

The government has tried to make housing  more accessible to lower and middle-income earners.

政府已經試圖讓中低收入者更容易獲得住房。

In 2016 for example, the government rolled out an additional three percent tax for homeowners with more than one property.

例如，在2016年，政府為擁有一處以上房產的房主推出了額外的3%的稅收。

This was on top of the existing stamp duty land tax.

這是在現有印花稅土地稅的基礎上。

The idea here was to make the property market more accessible for individuals and families rather than investors.

這裡的想法是讓個人和家庭而不是投資者更容易進入房地產市場。

Perhaps the government's most  successful policy has been the help to buy scheme set up in 2013.

也許政府最成功的政策是2013年設立的幫助購買計劃。

This scheme allows first-time  buyers of newly built homes in London to borrow

這項計劃允許在倫敦新建房屋的首次購房者貸款

up to 40 percent of the purchase price in the form  of an equity loan, if they can pay a 5% deposit.

如果他們能夠支付5%的押金，可以以股權貸款的形式獲得最高40%的購買價格。

Traditional mortgages usually require at least 10%.

傳統抵押貸款通常要求至少10%。

So for example, if a buyer  wanted a flat in London that cost £500 000,

是以，舉例來說，如果一個買家想在倫敦買一套價值50萬英鎊的公寓。

she would have to pay a £25,000 deposit.

她將不得不支付25,000英鎊的押金。

Under the scheme, the government could loan this buyer up to£200, 000, interest free for five years.

根據該計劃，政府可向該買家提供高達20萬英鎊的貸款，並在五年內免息。

The rest £275,000 would have to be borrowed from elsewhere like a bank.

其餘的27.5萬英鎊將不得不從銀行等其他地方借入。

The scheme has been popular.

該計劃一直很受歡迎。

About 330, 000 households have bought homes through the scheme since 2013.

自2013年以來，約有330,000個家庭通過該計劃購買了住房。

But some experts including Professor Edwards have observed drawbacks to the scheme as well.

但是包括愛德華茲教授在內的一些專家也觀察到了該計劃的缺點。

There were some pluses for the people it was aimed at but because

對於它所針對的人群來說，有一些優點，但由於

it was operating across the country and across  the markets it also seems to have pushed prices up

它在全國和整個市場運作，似乎也推高了價格。

For young people like Jonathan, the hardest part  of buying a home is saving the initial deposit,

對於像喬納森這樣的年輕人來說，買房最困難的部分是攢下最初的存款。

a problem the Help to Buy scheme doesn't completely solve.

幫助購買計劃並沒有完全解決這個問題。

His solution to becoming financially secure? Leave London.

他的解決方案是成為經濟上的保障？離開倫敦。

I'd consider leaving London and moving to another city, where I could earn a bit more money

我會考慮離開倫敦，搬到另一個城市，在那裡我可以賺更多的錢。

where things are still  cheaper so rent could be cheaper or

那裡的東西還是比較便宜的，所以租金可能會比較便宜，或者是

I have friends there that I can stay with perhaps for a short amount of time just to get me back on my feet.

我在那裡有朋友，我可以和他們呆在一起，也許只是短期的，讓我重新站起來。