I love hearing about real estate life in the U.K. When it comes to health care, they are trying to reform their socialized regime — which is both awful and wonderful, depending on who you talk to — even as the U.S. steers towards socialized medicine. (The Brits want it to be less socialized.) Now as we contemplate dumping the mortgage deduction, which some call a U.S. subsidy of housing, the Brits are concerned that younger U.K residents may have “house envy” and a “sense of resentment from young people towards the housing wealth acquired by those aged over 40 when housing was more affordable”
The new findings, published in the second annual Barratt HomeBuyer’s Panel, suggest that limiting the ability of young people to buy their first home will cause ‘inter generational tension’ and long-term social problems. The U.K has had a bubble, and housing there is among the most expensive in the world. The article says Britain’s young people do not want to adopt the European model, which some experts would like to see more of in the U.S., where families rent homes for the duration of their life. Experts say this dilemma could create a generation rift.
Like, they might start throwing things?