Finance for Owner Occupation in the UK: the sick man of Europe?

Abstract

Britain’s large owner occupied sector is beset with problems. Large rises in house prices contributed to the unsustainable economic boom in the late 1980s. The measures taken to combat them contributed to the recession in the 1990s, which was exacerbated by the slump in the housing market. An agenda for reform has been developed, but it has usually neglected developments in other countries and failed to consider the importance of European integration. This article asks whether Britain has anything to learn from its European partners and what implications European integration will have for national housing finance systems.