Sometimes I wonder if the Affordability Crisis is really a recent epidemic or if it has always been difficult to buy a first home. For example did our parents and grandparents have the same obstacles when buying their first homes or are we really the generation that has been left behind?
If you haven't heard, Generation Rent is growing in the UK. Soon there will be more renters than home owners. This is not necessarily a problem if the rental stock is affordable, of high quality and if the support structure is in place like in Germany.
But unfortunately, that is not the case.
Generation Rent is the term used to define a particular demographic in our society that, due to high house prices and rents, are unable to save for their first home. They are those who are currently trapped in the Private Rented Market, struggling to save for their first deposit due to relinquishing a large proportion of their income on rent each month. They are those who are left to await the impending wave of wealth inequality that will reward those who were fortunate to have the economy on their side when they bought and it will punish those who do not have that privilege for no fault of their own.
First post… so what is this about?
At RenKap we are here to help those who have been locked out of the housing market by soaring house prices and sky high rents. We want to empower those forced to become “Generation Rent”, who have been let down by the lack of house building by successive governments in the UK.