Saturday, August 19, 2017

Property Owners

One in 10 have bought or inherited a second home.

Four in 10 own no property at all.

The number of multiple home owners grew by 30% between 2002 and 2014.

The number of people without property had also risen over the 12-year period. As a result, the study concluded that there was a growing gap between those who have property wealth and those who do not.
"Contrary to the popular narrative, these second-home owners are rarely your typical middle-income worker shoring up savings, or ordinary retirees boosting pension income," said Laura Gardiner, senior policy analyst at the Resolution Foundation. "They tend to be baby boomers (currently aged between 52 and 71) who are very wealthy indeed relative to their peers, living in the south and east of England."

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