Homes

My name‿ is Rachel. Las(t) year my partner│ and‿ I finally bought‿ a flat,│ and‿ it took‿ us nine years to save the deposit. In my city^ci-dy,│ house prices have risen faster than salaries for two decades,│ an(d) my generation‿ is described‿ in the newspapers‿ as victims‿ of‿ a housing crisis.

We could not‿ afford‿ anything central,│ so we compromised‿ an(d) settled thirty^thir-dy minutes‿ away by train. Our flat‿ is smaller than the one we rented,│ an(d) the mortgage will be paid│ until‿ I am sixty-three. However,│ it‿ is‿ ours,│ an(d) when the landlor(d) raised‿ our ren(t) for the thir(d) time‿ in four years,│ that mattered more than the extra room would have. Friends‿ of‿ ours have decided to ren(t) for life,│ which‿ is‿ a rational choice‿ in‿ a market like this,│ although it leaves them‿ exposed to every increase.

What frustrates me is how the discussion‿ is framed. Renting‿ is presented‿ as throwing money away,│ but buying‿ is‿ only cheaper│ if prices keep rising. If‿ interes(t) rates were to rise‿ another two percent,│ half‿ of the people│ who bought las(t) year would be in difficulty. My parents bought their house for the price‿ of‿ a car,│ an(d) they think we simply need to work harder. I am not sure the argument‿ is‿ about‿ effort‿ any more.