A Move Away From Home Ownership?

The Chartered Institute of Housing (CIH) recently announced the end of the 'golden age' of home ownership in the UK – a major cultural shift for a country whose population expects to own properties.

Over the last century we have seen a massive rise in home ownership. In recent years, however, the economic crisis and lack of mortgage funding have led to a significant decline in owner-occupation, leaving millions facing a lifetime as tenants. The CIH has identified a group of people in particular need of private rented accommodation, terming them 'the inbetweens'. These are people that do not qualify for social housing, but who cannot afford home ownership due to stringent lending criteria and the requirement for larger deposits.