Incentivising “right-sizing” in retirement pivotal to addressing housing crisis
Credit: Legal & General
Chair of the Affordable Housing Commission Lord Best has said policies are needed to break the “cultural reticence” towards later life downsizing if the UK is to address its housing crisis.
Speaking at a virtual panel hosted by Legal & General, Lord Best, a crossbench member of the House of Lords said government had to incentivise the elder generation to “right size”, so as to free up much needed family-sized social and council housing.
“We just don’t have a culture in the UK of a move in older age, people are very suspicious of moving… there is a fear of moving to an institutional setting,” he said.