A new report out today reveals that in just seven years time, less than a third of 25-34 year olds will be living in their own home, that's half the number of owner-occupiers in 1993.
The report by the Intermediary Mortgage Lenders Association claims Britain's reputation as a nation of homeowners is coming to an end - and that a generation of would-be first time buyers are stuck in rented accommodation.
In 2001 69% of people owned their home - that's now fallen to 64% - the first fall in owner-occupiers in a century.
While short-term measures such as the Funding for Lending Scheme (FLS) and Help to Buy have been introduced to promote economic growth, the report is still calling for urgent dialogue between government and industry on rebalancing the housing and mortgage markets.
Help to Buy consists of two elements, an "equity loan" scheme and the mortgage guarantee.
Under the equity loan new or existing homeowners will need to raise a deposit of 5% of the value of the property they want to buy, but can borrow up to a further 20% from the Government on an interest-free basis. The biggest loan available will be £120,000.
The mortgage guarantee element will be available for all types of housing stock worth up to £600,000 from January. The Government will guarantee up to 15% of a mortgage, allowing people with 5% deposits access to lending.
George Osborne risks skewing the housing market at a huge cost to the Treasury with plans to boost home ownership through mortgage guarantees, a powerful committee of MPs has warned.
The Treasury committee warned the Chancellor's Help to Buy scheme is "very much work in progress" and may propel the Government as an active player in the market with a financial interest in maintaining house prices.
MPs warned a lenders fee structure the Government intends to put in place to cover the scheme's costs will be "extremely difficult" to price in a way that "sharply curtails Exchequer risk".