ABSTRACT
Over and above the issue of residential needs, however, the life cycle also affects the resources available to each household. Young employed adults have reasonable incomes and few responsibilities, but they have saved little with which to buy a home. Middle-aged families have higher incomes and have accumulated capital through previous house purchase, but they also have greater financial commitments. Some among the old may well have considerable savings but most have limited incomes. As a result of these different earnings/savings/outgoings ratios, they face different kinds of constraint on their housing choice.
