The impact of unemployment on home ownership

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Abstract
Much of housing policy in Britain and much of the theoretical literature is based on assumptions that home ownership, per se, provides certain distinctive and advantageous characteristics such as independence, security and wealth. This paper provides some empirical evidence as a corrective to these assumptions. It does so by locating their basis not inside but outside the tenure: in particular in the position of individual home owners in the labour market. The paper identifies two sets of costs incurred in home ownership — entry and running costs — and draws on evidence to show how recent changes in the labour market in Britain, which have resulted in widespread unemployment, have affected the ability of many home owners to continue to meet those costs. Specifically it demonstrates that large numbers of home owners experience insecurity of tenure and poor housing conditions.

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