Accompanying the endless property rises in the last couple of decades, there has been a change in attitude towards houses. They have moved away from being homes to becoming assets which owners want to make money from.  

This is not just restricted to buy letters or international investors, most home owners are part of this too.

This shift can be seen in the decline in home ownership to 62.9% today from 70.4% in 2003 (see the guardian) driven mainly by large rises in property prices - average house price in 2003 was £242k and in 2017 £490k. (Note in the same period weekly earnings have gone up around £402 to £528).

Not viewing the house as a functioning shelter puts unrealistic pressure on the housing market, both by encouraging unrealistic investment and also it stops people selling as they wish to hold onto what is felt to be an ever increasing asset.

The younger generation are bearing the brunt of this change as they cannot get onto the property ladder. Home ownership has halved amongst 25 year olds (Indiel) who as they grow older they will undoubtedly gain their revenge via taxing home ownership.

We want the houses to return to being simple homes and not investment opportunities. The government has made some steps but more needs to be done, possilbe CGT on principal residences, higher tax for non resident tax payers.