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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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PRINTED FROM POLICY PRESS SCHOLARSHIP ONLINE (www.policypress.universitypressscholarship.com). (c) Copyright Policy Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in PPSO for personal use.date: 23 July 2021

Increasing Home Ownership

Increasing Home Ownership

Chapter:
(p.211) 13 Increasing Home Ownership
Source:
Understanding Affordability
Author(s):

Geoffrey Meen

Christine Whitehead

Publisher:
Policy Press
DOI:10.1332/policypress/9781529211863.003.0013

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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