Incentives To Downsize Would Ease The Housing Crisis

Housing policy is too concentrated on first-time buyers and should be refocused towards 'last-time buyers' to encourage those aged 55+ to downsize, according to a new report for the Centre for the Study of Financial Innovation (CSFI). The report also highlights the role of the financial services industry in expanding mortgage offerings and insurance policies to enable older people to monetise their housing wealth. The UK's housing crisis is the result of a growing population and an inadequate supply of new homes. Demographic analysis suggests that the demand for accommodation could add the equivalent of two new towns, each with 100,000 homes, every year for 25 years. Read more on the EurekAlert! website.

https://eurekalert.org/pub_releases/2019-02/cul-itd022119.php