Finance and the Housing Market in the UK: Who Wins?
[Hint: Very few Owner-Occupiers] Using data from a range of sources, this paper makes estimates of the money flows associated with home-ownership in 2000. Of particular interest is the identification of 'winners' and 'losers' in the owner-occupied sector. The big winners are of course Financial Institutions, the Government and those involved in transactions -- solicitors etc. Very little of the money going in to the system reaches the producers of housing (builders), landowners. The most paltry sums reach those who inherit the accumulated wealth of housing, even fewer owner-occupiers make a financial gain in their lifetime. This is a paper I read in 2002.