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Showing posts with the label help to buy

Britain's broken housing system

The topic that comes up most in conversation with friends is housing. In the UK, we are sort of obsessed with housing anyway (how many bedrooms, is it detached, don't tell me it has an ensuite as well!) but this is even more pronounced amongst us young. Some of this is cultural and societal. Our parents measured their wealth in terms of the value of their houses so why shouldn't we as well? It has become a marker of success and the main way that British people feel like they accumulate wealth. After all, we don't want to be less successful than our parents. This inherent feeling is difficult to combat but some perspective is required. It is perfectly possible to not own any real estate and still be fabulously wealthy. Imagine someone like Bill Gates selling his house and renting instead. This does not automatically mean he is going to become poor. It is also perfectly possible to own a mansion and still be pretty far from wealthy (anyone heard of cheap credit?). An exam...