As income inequality grows, so does second home ownership. As the people who already own a home become more wealthy and those forced to rent at higher and higher rates are forever stuck in the same cycle. In the UK “number of millennials who own a home continues to fall, one in 10 people now own an additional property”. 🏘️
Chris Norris, director of policy and practice at the National Landlords Association, defended second home owners. “There is a distinct difference between those who have a second home for personal use, leaving it empty for long periods of time, and those who have invested in a rental property which provides a valued home for someone else,” he said.
https://www.bbc.com/news/business-48637484
Obviously, Chris Norris is biased. If those second home “investors” didn’t purchase the second property in the first place, the price would go down and allow their peasant renters to actually purchase property and slowly build their own wealth instead of throwing it all at the few rich landlords. The wealth gap is ever present. As with many nations, Britain is a country where getting ahead in life depends more on what you inherit than what you could ever hope to earn.
In a time when home ownership has become more difficult for many Americans, second-home speculation for vacation rental income showcases another impact of the the widening growth of wealth and income inequality. In cities with jobs that pay an almost living wage for high level professional jobs, home ownership has been pushed out of reach even for the very well off. Into the range of an asset class of wealth entirely inaccessible by anyone who works for a living. Making it all the more important for those that can to share with their less fortunate friends.
Probably time to get mates rates from those lucky rich c*#ts you know. Post Stayy on your facebook and get them sharing today!