Robert Ford, a professor of politics at the University of Manchester, recalled Margaret Thatcher’s thesis about homeownership: By allowing low-income Britons to buy the state housing they rented, she could make them into stakeholders in market capitalism, enlarging the Tory Party. With his students, realizing in their 20s that they are not likely ever to own a home, that process has been thrown into reverse.
“All the risk has been shifted onto them,” he said. “They know this is not the situation their parents and grandparents were in. You’ve got a generation since the crisis with lower mobility and lower security. It makes them less convinced that the market delivers good outcomes.”