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UK changes tack with help for renters, not just homebuyers
by Costas Pitas
Reuters Translate This Article
7 February 2017
On 7 February 2017 Reuters reported:
Britain set out plans on Tuesday to make renting more affordable, protect tenants and punish developers for not building quickly enough, in a shift away from decades of policy almost solely promoting home ownership. In a white paper entitled 'Fixing our broken housing market', the government laid out proposals to build more homes for rent, extend the length of tenancies and change planning laws to encourage developers to boost supply for renters. The measures, including support for smaller developers, are designed to increase the number of new homes coming onto the market in England from 190,000 units a year to at least 250,000, after decades of falling short.
Global Good News service views this news as a sign of rising positivity in the field of government, documenting the growth of life-supporting, evolutionary trends.
Since the 1980s, very little social housing has been built . . . . As a consequence, demand has outstripped supply in many areas of the country, pushing up the average price of a property to more than eight times average earnings and forcing many people to spend up to half their income on rent.
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