Is homeownership good for the economy?
Home ownership (or owner occupancy) is one way governments and economists have tried to organise the housing market. But is it good for the economy if all of us get on the housing ladder?
Is renting good for the economy?
Renting refers to when people pay for using property they don’t actually own. The people that rent are called tenants and the people that own property are called landlords.
Why do house prices go up?
In a nutshell, house prices go up because the demand for housing increases faster than supply.
What’s a ‘housing bubble’?
With property being one of the most expensive things we can buy, most people have to take out a loan of some kind to finance it, which creates high levels of debt in an economy that could easily spin out of control.