Inheritance: the new property ladder

Dr Eliza Filby, a visiting lecturer at King's College London, reflects on the impact of inheritance on property ownership in her upcoming book, Inheritocracy. She shares her personal journey, saying: "I didn't see myself as being incredibly privileged," highlighting the role of parental support in achieving home ownership. Filby notes that 57% of first-time buyers received help from their parents last year, the highest since 2012. The article discusses the generational wealth transfer, with an estimated £5.5tn expected to pass down by 2050, yet warns that this may not solve the housing crisis. According to Dr Filby: "We are all encouraged to believe in being self-made... but that path is lubricated by the parental investor," underscoring the societal shift back toward a world where inheritances dictate life chances. The complexities of family dynamics and the gender pay gap in caregiving roles are also explored. 

The Times (17/09/2024)