Monday, March 04, 2013

Generation Rent











Simon Read, Finance Editor at The Independent, is only partially correct in his analysis of the rented housing sector (Generation Rent). 

http://blogs.independent.co.uk/2013/03/04/generation-rent-why-arent-more-first-time-buyers-joining-the-property-ladder/

Research shows that many renters in the "first time" category are choosing to rent because they are relatively early at the establishment of their careers and they know they will be required to move frequently to achieve experience and career progression.

There is also the factor that many middle managers are experiencing longer and longer working days, and therefore cannot easily commute long distances, thus requiring them to rent smaller properties closer to their place of work.

These factors are a consequence of globalisation.

Do we really want the western world to degenerate into a perpetual upmarket transit camp for people in work, with people out of work stuck in increasingly substandard accommodation?

I have never really accepted that economic productivity requires the sort of mobility that results in people in work to moving house every three years or so.

Settled communities should be the aim of government policy.

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