THE property ladder in Lancashire is becoming a tightrope for first time buyers, according to housing charity Shelter.
Latest figures show the gap between what people can afford and the cost of housing is growing at an alarming rate.
Shelter chief executive Adam Sampson said: "These figures show the gulf between those who can afford to buy and those who can't is widening in the North West at an alarming rate.
"For first time buyers, the housing ladder is becoming a housing tightrope.
"Buying a home is becoming an ever-more distant dream for first time buyers and as housing becomes increasingly unaffordable, repossessions are likely to spiral and more families will face the nightmare of homelessness.
"Spiralling house prices are forcing first time buyers into taking drastic measures to get on to the housing ladder, like signing up to lifetime mortgages at six or seven times their salary.
"It's no wonder mortgage arrears and repossession problems seen by Shelter have more than doubled in the last two years, and we received more than 70,000 hits on our repossession web pages in 2006."
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article