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Understanding AffordabilityThe Economics of Housing Markets$
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Geoffrey Meen and Christine Whitehead

Print publication date: 2020

Print ISBN-13: 9781529211863

Published to Policy Press Scholarship Online: January 2021

DOI: 10.1332/policypress/9781529211863.001.0001

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Influences on Household Formation and Tenure

Influences on Household Formation and Tenure

(p.57) 4 Influences on Household Formation and Tenure
Understanding Affordability

Geoffrey Meen

Christine Whitehead

Policy Press

Chapter 4 concentrates on new household formation and the tenure choices of younger age groups. Not only have the young experienced lower rates of home ownership than previous generations, but they are more likely to remain with parents for longer or share with those in a similar position. The UK is not alone and many other countries have experienced similar trends. Since younger households are now more likely to rent privately for longer, the chapter discusses whether this represents a change in preferences – renting is more flexible – or whether young households are constrained from entering home ownership by high housing costs, credit constraints, job insecurity, competition from the Buy to Let market, demand from older households and from those wanting second homes.

Keywords:   Household formation, Home ownership, Housing costs, Credit constraints, Renting, Preferences, Job insecurity, Buy to Let, Second homes

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