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Document Type: | General |
Publish Date: | February 2016 |
Primary Author: | Angus Armstrong |
Edited By: | Arsalan Hasan |
Published By: | National Institute Economic Review |
Housing is at the top of our political agenda. This is appropriate given that housing is a necessity as it is essential for the security and well-being of our families. Article 25 (1) of the United Nations Declaration of Human Rights recognizes housing as part of citizens’ right to a “standard of living adequate for the health and well-being of himself and his family.” There is mounting evidence that we are failing to deliver decent housing, especially for the younger generation.
First, more and more houses are being bought for investment purposes which raises the cost of housing. Second, older generations appear to be ‘under occupying’ and even hoarding houses while younger generations are struggling to move into homes. Third, the number of new homes continues to fall below the number of new families. Fourth, the re-reclassification of housing associations may leave this essential source of housing for lower income families less able to access long-term stable funding