Property News · February 18, 2018

Plentiful, decent places to live should be the priority, not home ownership | Rowan Moore


As a new study shows that the housing ladder is now out of reach for many, it’s time for a rethink on rentingThe news that home ownership among younger people is “collapsing” will count as one of the least surprising stories of the week. Most people under 40, or those who know someone of that age, understands that the fabled housing ladder is now something held far aloft, as if by spiteful angels, its first rung attainable only by a miraculous leap. Or with the help of parents’ spare cash left over from their own good fortune in the property markets of the past.Still, it’s good that the Institute for Fiscal Studies has spelt it out and given detail in its latest report. If you were born just after the dissolution of Wham! in 1986, you would have had a 25% chance of owning a home by the age of 27, compared with 33% if you had been born at the time of the band’s creation in 1981. If you had been born around the time that, in Philip Larkin’s view, sexual intercourse began – 1963 – you would have had a 75% probability of owning a home, a level that the younger generation is unlikely ever to achieve. Continue reading…

Source : theguardian.com
Read more…Plentiful, decent places to live should be the priority, not home ownership | Rowan Moore

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