Britain should change mindset over homeownership

24 2008
The UK needs to move away from the mindset which says that it is better to buy a property than rent one.

That is according to the Chartered Institute of Housing (CIH), which said that different arrangements suit different people depending on what stage they are at in their lives.

Many people choose to rent property because they find it convenient and more affordable than buying a house.

However, our culture suggests that homeownership is the ultimate aim but the CIH does not think this is necessarily true.

"There has been a government target to increase homeownership, but we need to move away from the mindset that it is right to buy and wrong to rent, as different forms of tenure will suit different people at different stages of their lives," said Richard Capie, director of policy and practice at the CIH.

"A healthy private rented market is a good thing, but we need to think about asset inequalities between those who rent and those who own their own home.

"What matters is affordability and a home that meets individuals' and families' circumstances," he continued.ADNFCR-1219-ID-18567062-ADNFCR

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