Landlords with property to rent in London or other areas of the UK could benefit if people give up the "obsession with ownership", Firstrung has argued.
Paul Holmes, chief executive of the organisation, claimed: "The thought is, 'You must buy as quickly as possible. Rent is dead money'. Rent is not dead money if it is costing you less than a mortgage and a house is depreciating in value."
He called for a "rethink and a little bit of anti-zeitgeist feeling about how you must own a house" because current thinking is "nonsense".Mr Holmes added that there are "great attributes" to renting a home and not being tied down.
His remarks come after research from Halifax found almost half of young people believe the majority of individuals will be renting within the next generation, becoming more like Europe where renting is seen as the norm.
London Property to Rent
Thursday, 2 June 2011
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