STRAGETIC MANAMENT
UK societies have always presented buying of a house as the only reliable option for any individuals planning to settle down and lead a happy, positive life. This culture has made individuals dedicate all their efforts towards house ownership. The escalation of the property market in UK in the period of the late 1990s has been a significant challenge to this culture of house and home ownership (PATTISON, 2009, pg.6). Many people are finding it difficult affording to purchase a house with the continued rise in the cost of houses. This issue has led them to seek more reasonably priced alternatives.Moving back to the parents’ home is one of the alternatives in the housing industry in UK. Many people in UK will consider this as a step back but to others, it is the only way of achieving stability in their life. The fact that rent prices have gone very high such that one may spend over half of their salary on rent only makes it necessary for individuals to take such desperate measures. Around 3.3 million people at the age of 20 to 34 years now live with their parents in UK. This number is about 26% of the population of young adults in UK (CRIBB, 2011).Another alternative to house ownership in UK is sharing a flat. Two people share the same flat so that together they can afford the rising costs of renting flats in the United Kingdom. Although it is sometimes difficult to share an a flat especially if the two individuals do not understand each other well, the escalating housing industry has led to a call for desperate measures and this is one of them (PATTISON, 2010, pg.32).Being a property guardian is another alternative to the rising house industry in UK. Property guardians are a cheaper option to security guards (ROGALY et al., 1999, pg.155). This option happens to be an alternative to the young adults in UK who are faced with the challenge of rising rental prices and escalated costs of buying a house.Another suitable substitute in the housing industry in UK is residing in a houseboat. Although it’s a challenging option since it is difficult to find permanent anchorages, an individual has to acquire a continuous cruiser license and annual boat license. The challenge, however is less when compared to the price purchasing a house in the current UK housing industry (HAMPSHIRE, 2004, pg.400).
References
Cribb, J. (2011). Living standards, poverty and inequality in the UK: 2012. Institute for Fiscal Studies.
Hampshire, D. (2004). Living and working in Britain: a survival handbook. London, Survival Books.
Pattison, B. (2010). Tenure trends in the UK housing system: will the private rented sector continue to grow? Building and Social Housing Foundation.
Pattison, B. (2009). Perspectives on the future of housing: a collection of viewpoints on the UK housing system. Building and Social Housing Foundation.
Rogaly, B., Fisher, T., & Mayo, E. (1999). Poverty, social exclusion and microfinance in Britain. Oxford, Oxfam in association with the New Economics Foundation.
