In the 1970’s, 2/3 of Britain’s renting population lived in social housing. Not surprising then, that this form rent geared to income living particularly suited young people. Low rent meant saving money for more upscale digs, or a down payment for a house. Social rents made it all possible.
Then came the double whammy. Masses of social housing began to be pulled down ahead of its hoped for life span. That was a consequence of short-sighted corner cutting construction. Meanwhile, a move to downsize government and cut spending included promoting a national ‘own your home’ dream. Hundreds of thousands of social housing units were sold off under Right To Buy. They were not replaced as sale proceeds were diverted to other government requirements.1
The result? A better society? Ha! Not for you, today’s struggling young British adult. You’ve been screwed.
And to add misery to misery, you’ve not been treated all that well either, young, struggling North Americans.2
Read more in the New Statesman: It’s More Expensive To Be Poor. Now Housing Costs Make It More Expensive To Be Young Too
- See the Executive Summary and Constrained household formation and housing inequality sections in this report from the UK Collaborative Centre for Housing Evidence: Tackling the UK housing crisis: is supply the answer?
- Try this post: Small Town: Tens. Big City: Thousands. USA: Millions: 4 Million Young People Homeless