With Britain currently in the grips of the so-called "global credit crunch" and the average house price standing at a whopping £230, 474 its no wonder that its residents are having a tough time getting onto and moving up the property ladder. Taking these factors into account, it's really quite surprising that more people aren't choosing to rent. The purpose of this article is to make some comparisons between home ownership and private rental.
Twenty years ago, it was the norm to be a tenant, rather than a home owner. On the continent, it still is. Although this may not be a particularly fair comparison, because in a lot of European countries, such as Germany for example, tenants have a lot more rights than in Britain. Its only within the last two decades that home ownership has become the lifestyle of choice, no matter how much pain we have to go through to get it, and quite often, to keep it. Being a tenant is often frowned upon, especially if you're in your thirties and still renting. How many terms have you heard the phrase "dead money"?