UK: The rise of multiple property ownership in Britain and overall wealth inequality. @lauracgardiner @resfoundation
Resolution Foundation: “… The rise of the second home owners
The 21st Century rise in multiple property ownership is set against a backdrop of the overall decline in home ownership over the past 15 years. While the share of British adults in families with any property wealth fell 8 per cent in between 2000-02 and 2012-14, the share with multiple property wealth increased by nearly one-third (30 per cent). In 2012-14 four-in-ten adults had no wealth in property at all, but one-in-ten had wealth in multiple properties (5.2 million adults, up 1.6 million since the turn of the century). These twin trends – fewer people with any properties and more with many – underpin the growing concentration of housing assets that is fuelling the recent increase in overall wealth inequality. … .”