Fewer low income citizens own their own home

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The number of low income households who owned their own home decreased by 10% from 2003 to 2016.

 

The figures appear in the Living Conditions Survey of Statistics Norway (SSB).

Among those with medium and high income, the percentage of homeowners remained stable at over 80% during the same period.

“39% of low income households owned their homes in 2003. This percentage had fallen 10%, to 29% in 2016,” said Mathias Killengreen Revold, an adviser in SSB.

Researcher, Kim Astrup, of the City and Regional Research Institute NIBR at OsloMet, told Dagsavisen newspaper that the development is worrying. He thinks it’s a problem that some people can not keep pace with price inflation.

“One thing is inequality in salary, but when it comes to the fact that you can’t get into the housing market, with the advantage associated with tax benefits and value increases, we are talking about increased differences between poor and rich,” he said.

 

© NTB scanpix / #Norway Today

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