Monday, Nov 12, 2012

Housing Trends

FTAdviser: The decade that was

With the initial findings of the 2011 census released back in July this year, and a second wave of more detailed local data set to be published in the autumn, in the interim, Hometrack has laid out an insight paper that looks at what the forthcoming data is likely to show about the past decade’s changes in the housing market. Within the insight paper, there are three headline trends identified that it expects to dominate the census findings when they are published later this year.The first is growth in outright homeownership The second trend is accelerated growth in the private rented sector over the downturn. The last trend is a growing imbalance between three- and four-bedroom family houses

Posted by jack c @ 11:35 AM (836 views) Add Comment

1 Comment

1. mark wadsworth said...

All pretty much as expected.

"The first is growth in outright homeownership - which is expected to reach almost half with 47 per cent of home owners owning their property outright."

That sounds like good news, but actually what it means is that the number of home owners is decreasing and there are more tenants, so the number of people who've paid off their mortgages is the same and the number of new buyers with mortgages is going down. Here's the explanation:

"However, Richard Donnell, director of research for Hometrack, said it is much more “profound” than simply a slower market and that the housing market is becoming more “polarised”. Mr Donnell said: “A lot of the people that jumped on the ladder, and the baby boomers in the 1970s and 1980s, have stayed on the ladder. High inflation over the years has eroded their debt and they are all paying off their mortgages."

Yup, the whole point of Home-Owner-Ism is not the widest possible spread of owner-occupation, the point is to concentrate land ownership in as few hands as possible, preferably reverting to the situation we had in the past when only a handful own all the land.

Monday, November 12, 2012 03:37PM Report Comment
 

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