More young people cannot afford to buy a home – so social mobility is also reduced
Just 31 per cent of 25-29 year-olds now own their own property [Image: Alamy].
In fact, it seems far more likely that the Tories have a hidden policy to keep house prices out of the reach of ordinary people – especially the young.
It serves their plan – to make more people work for less money – if the public are in insecure tenancies, dependent on benefits and any amount they can earn in short-term jobs.
Social mobility – under a Conservative Government – is a nonsense.
And the public are aware of the fact.
Here’s how one Twitter user reacted to the latest announcement:
Priti Patel,
As my Tory MP YOU promised 200,000 new affordable homes in May 2015 for young people & delivered none.https://t.co/2MTYU2moGc— John Clarke (@JohnClarke1960) March 27, 2017
Enough said?
Home ownership is increasingly out of reach for young people without “the bank of Mum and Dad”, a study warns today – demanding “radical action” from the Government.
Just 31 per cent of 25-29 year-olds own their own property, a figure that has plunged from 63 per cent a quarter of a century ago, its analysis reveals.
A record number of first-time buyers – 34 per cent – now turn to their family for a financial gift or loan to help them buy a home, compared with 20 per cent just seven years ago.
And a further one in ten rely on inherited wealth, according to the analysis of Government and housing market data for the Social Mobility Commission, which advises ministers.
The Department for Communities and Local Government spokeswoman defended its record on home ownership, insisting both the number of house-building starts and first-time buyers are at a nine year-high.
“But we’re clear that to fix the broken housing market we need to build more homes and improve affordability,” a spokesman said.
“Our recent housing white paper set out the measures to do just that.”
Source: Home ownership now out of reach for most young people, study finds
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Tories don’t really want working class home owners. They want a population largely dependent on their unscrupulous landlord chums, who can make loadsa money by exploiting people.
“Young” people? What hope is there for so-called young people, when you have people in their 40s and 50s stuck in increasingly unaffordable rented accommodation, or living with their parents? Solve that one!
Basic economics, flood the housing market, cut the amount of publicly owned housing, overall lack of housing leads to increasing costs to purchase privately owned properties.
every new development i see going up consists of homes to buy, not rent. i am told that of each new batch that are built so many go to our local /main housing association for rent but its only a few. this means probably more than 95% of each new build group of houses are homes to buy. and to be honest, unless my own sister and partner, both disabled hadn’t been allocated a dormer bungalow in one such group of houses i would have been no wiser on that. how many people looking to rent from local authority or housing association know of that rule i wonder?
£uxury apartments…
hardly luxury appartments Zippi, these are ordinary 2 bedroom homes. with a very small garden at back and hard standing at front with a tiny narrow border to the side of that. her partner,by necessity has a tiny bedroom on ground floor, with wet room off the hall. theres a large lounge with tiny kitchen area off that.my sister has to sleep upstairs . she had a stroke 10 yrs ago. if she had another whilst in her own room, no one could get to her. her partner may not even know in fact. so no. not luxury by any means.
I suppose I was trying to allude to the fact that every development, without exception, that I have seen is billed as luxury apartments, furthering the idea of accommodation as an investment, rather than a place in which to live, a home. Until that image is truly shattered, nothing with change.
hmm what most think of luxury apartments often turn out to be the same old except newly built ones. sorry i did miss what you were trying to say. comes from a past where i had a lot to do with homelessness/housing aids/THREAT of homelessness and very little chance of getting so much as a bedsit let alone a house unless was in private sector of renting. social housing as in council/housing association is much harder to get and people these days, even if in a job, unless its really well paid, stand little chance of being allocated suitable rented accommodation and once they take a basic flat have a right time of it trying to 1. get ground floor accommodation. 2 get away from bad areas, invariably the first flat will be in. plus a host of other rules and regs /hoops they have to go through in order to be put on a waiting list. then they have to keep looking online for suitable places near their support mechanisms, mainly friends and family (which never seem to materialise for some) within short distance of the facilities they need to be able to live a decent active life, especially if disabled in some way.oh and then they have to BID for any they want to try for.(not with money but simply just saying they are interested) then the powers that be take all those interested parties and decide which one has the greater points/needs etc. so some never ever get the chance to better themselves.grossly unfair system