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1、THERFHOUSINGOUTLOOK
2、QUARTERLYBRIEFINGQ220201TheResolutionFoundationHousingOutlookLindsayJudge
3、CaraPacittiThisisjustthesecondResolutionFoundationHousingOutlook,butitisbeingpublishedinaradicallydifferentworldtothefirstOutlookofJanuary2020.Whilehousingitselfplayedacentralroleinthedownturnof2008,toda
4、ytheeconomiccrisisisbeingdrivenbyafalloffinactivityasjobsdisappearorbecomingverydifficulttoundertake.Inthisnoteweanalysewhatthiscoronavirusincomeshockmeansforfamiliesastheyseektomanagetheirhousingcostsinthecomingmonths,andassessthewaystheyarebeinghelpedtoweatherthestorm.Critically,wesuggestthatev
5、enwithmoregeneroushousingcostssupport,significantnumbersofrenterscouldbuilduprentarrears.Furtheractionfromgovernmentaswellasforbearancefromlandlordswilllikelyberequiredifanuptickinhousingstressistobeaverted.Spotlight
6、HousingandthecoronavirusincomeshockFormanyfamilies,housingisthelargestsingleexpe
7、ndituretheymakeeachmonth,andonethatisdifficulttoeasilyadjust(evencomparedtootheressentialssuchasclothingorheating).Atthetimeofwriting,weestimatethatbetweenone-thirdtoone-halfoftheUK’slabourforceisunabletowork,eitherbecausepeopleareinsectorsseverelyaffectedbythecrisis;theyhaveschoolagechildrenbuta
8、renotkeyworkers;ortheyperformnon-essentialjobsthatcannotbedonefromhome(althoughsomeinthisgroupmaystillbetravellingtowork).Coronavirusmaynotdiscriminateintermsofwhogetsill,butitclearlydoeshavedifferentialeconomicimpacts.Figure1showshowtheincomeshockiscurrentlybeingexperiencedacrosshousingtenures.F
9、IGURE1:ThecoronavirusincomeshockisexperienceddifferentlyacrosstenuresHousingtenureandabilitytowork,April2020:UK80%MortgagedownerPrivaterenterSocialrenter79%70%60%59%50%54%50%40%30%33%27%20%23%23%24%20%20%17%10%0%ThoseinsectorsdirectlyThoseunlikelytobeabletoThoseunlikelytobeabletoAllatriskaffected
10、bysocialworkwithschoolsclosedworkfromhomedistancingNOTES:Economicallyactiveindividualsonly.SOURCE:RFanalysisofONS,LabourForceSurvey.ResolutionFoundation
11、HousingOutlookTHERFHOUSINGOUTLOOK
12、QUARTERLYBRIEFINGQ220202Whileth