High home ownership can seriously damage your labour market, new study shows

CLAPTON

PasturesNew wrote: »

There's no money left over for travel to work.

if rents were the same everywhere then one could move nearer work;

the_flying_pig

CLAPTON wrote: »

if rents are high everywhere why does this stop people looking more than a couple of miles away?

Well, it's harder to get people from overseas, certainly, and hard for firms in and around London to tempt people from the rest of the UK without offering a huge premium.

zagubov

High home ownership was intended to weaken unions as strikes would impact on mortgage payments. Shame a side effect was it meant people couldn't chase the jobs as they were tied to their house and there was no rented property left where the jobs were.

Never mind, the jobs could be outsourced to other countries with bigger rental sectors and more mobile labour forces.

Bloody brilliant were the 80s governments. Geniuses the lot of them!

grizzly1911

zagubov wrote: »

High home ownership was intended to weaken unions as strikes would impact on mortgage payments. Shame a side effect was it meant people coulodn't chase the jobs as they were tied to thier house and there was no rented property left where the jobs were.

Never mind, the jobs could be loutsourced to other countries with bigger rental sectors and more mobile labour forces.

Bloody brilliant were the 80s governments. Geniuses the lot of them!

Yep get a mortgage round their neck and they couldn't afford not to work.

Interesting that unemployment of 2.5 million seen at the start of the 80's, was viewed as not politically sustainable at the time. In reality the figure is probably higher now with greater numbers in education and various "ill health benefits".

That's progress for you.

We have been floundering since the 70s with politicians of all varieties simply keeping the plates spinning through the 80's,90's and 00's, slowly breaking the supply. They haven't worked out how to make the plates even Stoke has been outsourced.

marlot

I'm surprised nobody has mentioned stamp duty, which to me is a tax on mobility for people in the (fortunate) position of having a large house. I'm currently commuting 120 miles each way to work because stamp duty makes a move untenable.

marlot

grizzly1911 wrote: »

...
We have been floundering since the 70s with politicians of all varieties simply keeping the plates spinning through the 80's,90's and 00's, slowly breaking the supply. They haven't worked out how to make the plates even Stoke has been outsourced.

I agree. As a country we've been spending more than we earn for around 30 years. Its like someone living in a grand country house. We're still selling off bits of the land and furniture but the time will come when we have nothing left to sell.

StevieJ

the_flying_pig wrote: »

Only one study of course, but any thoughts?

http://m.phys.org/news/2013-05-high-home-ownership-labour.html

I hope they are not suggesting that Maggie wrecked our economy :eek:

PasturesNew

grizzly1911 wrote: »

Yep get a mortgage round their neck and they couldn't afford not to work.

I have, in the past, heard of employers who only hire people who have a mortgage.... just so they know they can control them.