Futures Forum: A solution to our housing problems: kill the property porn shows
But it's not just confined to the UK:
Is a high home ownership rate a sign of a successful country?
I saw an El Pais spread on this, which I cannot find on-line. Here are the European countries with the highest owner occupancy rates:
1. Romania, 97.5%
2. Lithuania, 93.1%
3. Croatia, 90.1%
4. Slovakia, 90.0%
How about the lowest rates?
1. Switzerland, 44.3%
2. Germany, 53.2%
3. Austria, 57.4%
Get the picture?
In which case, the following view from another Anglo-Saxon country does not make sense
- if you live inSwitzerland, Germany or Austria:
The Link Between High Levels of Homeownership and Unemployment
RICHARD FLORIDA MAY 9, 2013
Communities with lots of homeowners may restrict labor mobility, generate longer commutes, and lower rates of new business formation.
Homeownership is a vaunted cornerstone of the American Dream. It's long been viewed as providing a path to financial security and the good life. And it's often posed as a barometer of the health of the economy writ large. it's been center stage, after all, in the ongoing conversation about the economic crisis and recovery. The American government has provided substantial incentives to spur homeownership for decades.
But, in recent years, a growing chorus of economists have argued that America may have gone overboard in its pursuit of homeownership. They suggest that high rates of homeownership distort the economy, tying people to places and restricting the ability of workers to move to jobs.
A new working paper provides powerful evidence of that higher rates of homeownership may in fact be connected to higher rates of unemployment. The study, "Does High Home-Ownership Impair the Labor Market?" [PDF], by economists Andrew Oswald, whose earlier research argued that high rates of homeownership undercut labor mobility, and David Blanchflower of Dartmouth University, employes a large-scale data set covering the past 25 years (1985-2011) and more than two million American households to examine the connections between homeownership and unemployment, labor mobility, commuting times, and new business formations.
Why the decline of the homeownership rate is good news - The Washington Post
Meanwhile in China:
Meanwhile in China:
The country where 70% of millennials are homeowners
The country where 70% of millennials are homeowners - BBC News