Is there a problem with the current housing market?

Christine Whitehead discusses the social implications of a changing housing market at the ESRC Festival of Social Science: Housing Event at the Geffrye Museum of the Home. She argues that the housing system is failing to provide for population and household formation let alone for economic growth as well as other intricacies of how we have a dysfunctional housing system.

An except:

Conclusions:

  • The housing system is failing to provide for population and household formation let alone for economic growth;
  • Even if we build 222,000 each year until 2031 some groups will still be worse off as compared to 2011 – notably couples in London;
  • But very unlikely to build this number consistently over 20 years;
  • If the economy is successful, incomes will rise and demand will be higher both for numbers and quality of housing;
  • The likely impact is higher house prices and worsening affordability.
  • Yes, we have a dysfunctional housing system.

The presentation slides can be found here on our archives page.

 

 

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