Oxford would be an interesting place to trial this sort of approach – it is one of the most expensive places to rent in the UK with an average rent of £891 a month and has about 6,000 people on the council’s housing waiting list and 165 more in temporary accommodation. The average house price in the city is £343,461.
Come to Vancouver and you'll really see what happens when a housing bubble exists. We are currently suffering from a house price to income ratio of about 11:1 (second only to Hong Kong, on a global scale). Consider that the US housing market blew up at about 5.3:1. Thankfully, the housing market in Vancouver is starting to crash as well, but we're only at the beginning of the cycle.
As for the small homes movement, I doubt that this truly gets people into the property market. I venture to guess that this pigeon-holes (no pun intended) people into forever living in a tiny home with no room to grow.
Come to Vancouver and you'll really see what happens when a housing bubble exists. We are currently suffering from a house price to income ratio of about 11:1 (second only to Hong Kong, on a global scale). Consider that the US housing market blew up at about 5.3:1. Thankfully, the housing market in Vancouver is starting to crash as well, but we're only at the beginning of the cycle.
As for the small homes movement, I doubt that this truly gets people into the property market. I venture to guess that this pigeon-holes (no pun intended) people into forever living in a tiny home with no room to grow.