Divide and rule: over 5m own second homes, despite 250k homeless

[Tony Gosling]

<http://www.mirror.co.uk/news/politics/british-property-divide-revealed-over-11012277>British 
property divide revealed as over five MILLION own 
second homes despite 250,000 homeless

Second home ownership has rocketed by 30% in just 
over a decade, with one in 10 adults now having 
another property in addition to their main home
BY <http://www.mirror.co.uk/authors/ben-glaze/>BEN GLAZE  19 AUG 2017
New homes are constructed on a new housing estate
Five million people own second homes in the UK

More than five million people own second 
<http://www.mirror.co.uk/all-about/housing>homes, 
a report reveals today – but 250,000 are 
estimated to be <http://www.mirror.co.uk/all-about/homelessness>homeless.

Second home ownership has rocketed by 30% in just 
over a decade, with one in 10 adults now having 
another property in addition to their main home.

An extra 1.6 million people scooped up an extra 
base, taking the total to 5.2 million, according 
to the Resolution Foundation think tank.

The finding highlights a deepening divide in 
property ownership; figures last year from 
housing charity Shelter estimated 254,000 people 
were living in temporary accommodation, with the 
housing crisis set to mount as population growth outpaces housebuilding.
[]

Housing charity Shelter estimate 254,000 people 
are living in temporary accommodation

Resolution Foundation senior policy analyst Laura 
Gardiner said: “With young people much less 
likely to own a home at all than their 
predecessors at the same age, the growing 
concentration of property wealth among fewer 
families raises concerns not just for their 
<http://www.mirror.co.uk/all-about/living-standards>living 
standards but for wealth inequality of our country as a whole.

“Recent steps to increase 
<http://www.mirror.co.uk/all-about/stamp-duty>stamp 
duty on second homes and reduce tax relief on 
buy-to-let mortgage are attempts to address this 
challenge, but policy makers should consider what 
more can be done to ensure that home ownership 
doesn’t become the preserve of the wealthy for generations to come.”
[]

The figures highlight the growing wealth inequality in Britain (Image: Getty)

The report highlighted a generational split, with 
baby boomers aged 52 to 71 the most likely to be 
multiple home owners, accounting for more than 
half (52%) of all the wealth held in additional properties.

Generation X, made up of 37 to 51-year-olds, 
accounts for a further quarter (25%) of additional property wealth.

But “millennials” – those born since 1981 – own 
just 3% of the additional property assets, the research found.
New homes are constructed on a new housing estate

Baby boomers aged 52 to 71 are the most likely to be multiple home owners

Ms Gardiner said: “Multiple property ownership is 
still a minority sport, but a growing one that 
represents a significant boost to the wealth pots 
of those lucky enough to own second homes.

“People with second homes not only have an 
investment that they can turn to in times of 
need, for instance in later life when care is 
required, but if the property is rented out they 
also see a boost to their incomes here and now.”

The findings were drawn from a range of figures, 
including 
<http://www.mirror.co.uk/all-about/office-for-national-statistics>Office 
for National Statistics data.

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So much emphasis is placed on select Jewish participation in Bormann 
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