Increasing Home Ownership
Increasing Home Ownership
Chapter 13 is concerned with owner occupation and discusses both the long history of tax reliefs for this sector and the scope for enabling increases in ownership among younger cohorts in future years. Support has always been closely related to political as much as economic objectives – as well as to the limitations of rental tenures. Consequently, some policies – particularly those concerned with taxation – have been off limits. Nevertheless, many economists are highly critical of the current tax system and have proposed reforms. Falling home ownership rates among the young and indeed the early middle aged are an international phenomenon, but the decline (while currently being slowly reversed) has been greater in the UK than in most other developed economies. The chapter also argues the need for home ownership to be sustainable. This raises the question of the benefits from additions to the standard debt financing model, including greater use of equity finance.
Keywords: Owner occupation, Political objectives, Taxation, Equity finance
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