Young people, homeownership and future welfare

Kim McKee

    Research output: Contribution to journalArticlepeer-review

    168 Citations (Scopus)
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    Abstract

    Homeownership has become a ‘normalised’ tenure of choice in many advanced economies, with housing playing a pivotal role in shifts from collective to asset-based welfare. Young people are however increasingly being excluded from accessing the housing ladder. Many are remaining in the parental home for longer, and even when ready to ‘fly the nest’ face significant challenges in accessing mortgage finance. This under-thirty age group has become ‘generation rent’.
    As this policy review emphasises this key public policy issue has created a source of inter-generational conflict between ‘housing poor’ young people and their ‘housing rich’ elders. To fully understand the complexities at play however, this paper argues that we need to look beyond the immediate housing market issues and consider how housing policy interacts with broader social, economic and demographic shifts, and is intimately connected to debates about welfare. This is illustrated with reference to the UK, although these debates have international resonance.
    Original languageEnglish
    Pages (from-to)853-862
    JournalHousing Studies
    Volume27
    Issue number6
    Early online date13 Aug 2012
    DOIs
    Publication statusPublished - 2012

    Keywords

    • Homeownership
    • Asset-based welfare
    • Young people
    • Housing policy
    • Affordability
    • Housing tenure

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