FT News Briefing The housing supply problem: Part 2
Jun 1, 2023
The US House advanced a crucial debt ceiling bill, edging closer to avoiding a historic default. Meanwhile, the podcast dives into the rising trend of homesharing in the UK as an innovative solution to soaring rents. Personal stories highlight how this arrangement fosters unique connections between older homeowners and younger tenants. It emphasizes not just financial relief, but also companionship, showcasing how homesharing could play a vital role in tackling London's housing crisis.
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Bebel and Isaac's Homesharing Story
- Bebel, a homeowner in North London, shares her house with Isaac, a 25-year-old music graduate.
- Isaac helps with chores for 10 hours weekly instead of paying full rent, saving money towards buying a house.
Homeshare Dynamics and Turnover
- Homeshares often experience high turnover due to changing care needs or interpersonal dynamics.
- Many home sharers seek a sense of community and connection, preferring it over the anonymity of traditional renting.
Homeshare Finances
- In the homesharing arrangement, only the organization profits, collecting fees from both homeowner and home sharer.
- For homeowners, the fee is a cheaper alternative to private low-level social care.