Does everyone need to own their own home?
In the UK today there seems to be the idea that people have to own their own home.
From what I can gather, this is a relatively new phenomenon (developing in the last 20 to 50 years).
Before this many people were happy to rent homes for centuries with just the richest buying their own.
Has the 'everyone has to buy' mentality resulted in the the ridiculous increases in house prices over the last 20 years?
Has this increase and the selling off of council houses resulted in a housing market in which some cannot either buy nor rent a house at all?
I bought my own house because I was fed up of paying a stupid amount of rent each month when I could be paying the same amount on a mortgage and actually end up owning a property in the end.
No there is no reason for people to rent. It provides a leash preventing people to move around. It was started by Thatcher in the 80's who encouraged people to own their own home.
In 30 years this is going to cause major problems as Britain will have a huge surplus of houses as the baby boomers die out
People still think there is great gains to be made in property. Short term, no, medium term, yes, long term, None
As far as I can see, theres no shortage of property up for rent.