The ageing of the property owning democracy

Ray FORREST, Philip LEATHER

Research output: Journal PublicationsJournal Article (refereed)

12 Citations (Scopus)

Abstract

Existing tenure trends amongst middle-aged households mean that the next two decades will inevitably see significant increases in the numbers of older home owners in Britain. This paper applies estimates of trends in home ownership amongst older households in England, broken down by age group and household type, to official household projections to derive detailed estimates of the number of older home owners up to the year 2011. Additional data are used to derive estimates of the type and age of dwellings which older home owners will occupy and the amount of unmortgaged equity which they will have available. The paper goes on to discuss the implications of these estimates for a range of policies and academic debates. In future, fewer older home owners will experience poor housing conditions but significant minorities of single older people, many of them women and households headed by a person aged 75 and over, will continue to do so. The amount and effectiveness of investment undertaken in middle age is a key determinant of the conditions experienced in later old age, and factors such as right-to-buy and involuntary early retirement from the labour market in the 1980s and 1990s recessions, will lead to an increase in the number of very old home owners experiencing poor conditions. There will be more demand for mobility but limited equity and the lack of moving opportunities will restrict the extent to which older home owners' aspirations can be realised. The paper concludes that older home owners will face a varied future in the post-Keynesian welfare state, with many pressures to use the wealth tied up in their dwellings to meet welfare needs.
Original languageEnglish
Pages (from-to)35-63
Number of pages29
JournalAgeing and Society
Volume18
Issue number1
Publication statusPublished - 1 Jan 1998
Externally publishedYes

Fingerprint

Democracy
homeowner
democracy
Retirement
Ownership
equity
Age Factors
England
early retirement
housing conditions
Age Groups
trend
old age
recession
welfare state
Pressure
projection
age group
labor market
welfare

Cite this

FORREST, Ray ; LEATHER, Philip. / The ageing of the property owning democracy. In: Ageing and Society. 1998 ; Vol. 18, No. 1. pp. 35-63.
@article{450476631f8e4dc7aef852131417f061,
title = "The ageing of the property owning democracy",
abstract = "Existing tenure trends amongst middle-aged households mean that the next two decades will inevitably see significant increases in the numbers of older home owners in Britain. This paper applies estimates of trends in home ownership amongst older households in England, broken down by age group and household type, to official household projections to derive detailed estimates of the number of older home owners up to the year 2011. Additional data are used to derive estimates of the type and age of dwellings which older home owners will occupy and the amount of unmortgaged equity which they will have available. The paper goes on to discuss the implications of these estimates for a range of policies and academic debates. In future, fewer older home owners will experience poor housing conditions but significant minorities of single older people, many of them women and households headed by a person aged 75 and over, will continue to do so. The amount and effectiveness of investment undertaken in middle age is a key determinant of the conditions experienced in later old age, and factors such as right-to-buy and involuntary early retirement from the labour market in the 1980s and 1990s recessions, will lead to an increase in the number of very old home owners experiencing poor conditions. There will be more demand for mobility but limited equity and the lack of moving opportunities will restrict the extent to which older home owners' aspirations can be realised. The paper concludes that older home owners will face a varied future in the post-Keynesian welfare state, with many pressures to use the wealth tied up in their dwellings to meet welfare needs.",
author = "Ray FORREST and Philip LEATHER",
year = "1998",
month = "1",
day = "1",
language = "English",
volume = "18",
pages = "35--63",
journal = "Ageing and Society",
issn = "0144-686X",
publisher = "Cambridge University Press",
number = "1",

}

FORREST, R & LEATHER, P 1998, 'The ageing of the property owning democracy', Ageing and Society, vol. 18, no. 1, pp. 35-63.

The ageing of the property owning democracy. / FORREST, Ray; LEATHER, Philip.

In: Ageing and Society, Vol. 18, No. 1, 01.01.1998, p. 35-63.

Research output: Journal PublicationsJournal Article (refereed)

TY - JOUR

T1 - The ageing of the property owning democracy

AU - FORREST, Ray

AU - LEATHER, Philip

PY - 1998/1/1

Y1 - 1998/1/1

N2 - Existing tenure trends amongst middle-aged households mean that the next two decades will inevitably see significant increases in the numbers of older home owners in Britain. This paper applies estimates of trends in home ownership amongst older households in England, broken down by age group and household type, to official household projections to derive detailed estimates of the number of older home owners up to the year 2011. Additional data are used to derive estimates of the type and age of dwellings which older home owners will occupy and the amount of unmortgaged equity which they will have available. The paper goes on to discuss the implications of these estimates for a range of policies and academic debates. In future, fewer older home owners will experience poor housing conditions but significant minorities of single older people, many of them women and households headed by a person aged 75 and over, will continue to do so. The amount and effectiveness of investment undertaken in middle age is a key determinant of the conditions experienced in later old age, and factors such as right-to-buy and involuntary early retirement from the labour market in the 1980s and 1990s recessions, will lead to an increase in the number of very old home owners experiencing poor conditions. There will be more demand for mobility but limited equity and the lack of moving opportunities will restrict the extent to which older home owners' aspirations can be realised. The paper concludes that older home owners will face a varied future in the post-Keynesian welfare state, with many pressures to use the wealth tied up in their dwellings to meet welfare needs.

AB - Existing tenure trends amongst middle-aged households mean that the next two decades will inevitably see significant increases in the numbers of older home owners in Britain. This paper applies estimates of trends in home ownership amongst older households in England, broken down by age group and household type, to official household projections to derive detailed estimates of the number of older home owners up to the year 2011. Additional data are used to derive estimates of the type and age of dwellings which older home owners will occupy and the amount of unmortgaged equity which they will have available. The paper goes on to discuss the implications of these estimates for a range of policies and academic debates. In future, fewer older home owners will experience poor housing conditions but significant minorities of single older people, many of them women and households headed by a person aged 75 and over, will continue to do so. The amount and effectiveness of investment undertaken in middle age is a key determinant of the conditions experienced in later old age, and factors such as right-to-buy and involuntary early retirement from the labour market in the 1980s and 1990s recessions, will lead to an increase in the number of very old home owners experiencing poor conditions. There will be more demand for mobility but limited equity and the lack of moving opportunities will restrict the extent to which older home owners' aspirations can be realised. The paper concludes that older home owners will face a varied future in the post-Keynesian welfare state, with many pressures to use the wealth tied up in their dwellings to meet welfare needs.

UR - http://commons.ln.edu.hk/sw_master/5758

M3 - Journal Article (refereed)

VL - 18

SP - 35

EP - 63

JO - Ageing and Society

JF - Ageing and Society

SN - 0144-686X

IS - 1

ER -