The review reflects John Healey’s determination to put
widening the opportunities for home ownership at the heart of Labour’s approach
to housing. It is a significant development in the Labour Party’s housing
policy for a tenure group that it is often ignored by the Left. The review
takes the view that the fall of home-ownership in England from 71% to 60%
frustrates the legitimate desire of most people to own their own home. There
have been too many short term initiatives in housing policy. Solutions seeking
to improve home ownership without considering the impact on other tenures will
be unsuccessful. The reasons for this decline are several. Real house prices
rose by 151% from the end of 1996 to the end of 2006, while real earnings have
risen only about a quarter as much as that. The growth of buy to let mortgages
and the global economic crisis have also contributed. Read more on the Red
Brick blog.
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