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Cars Insight | Ownership

 

Justin Holloway

Planning Director

GTB

Justin.Holloway@gtb.com

 

Steep housing

ladder favors

car ownership

 

In Britain, buying a house has been the traditional means for young people to signal progress and independence. Yet today, they can’t get on the housing ladder because of the high cost - but, with leasing, cars have become relatively cheap monthly. So they use prestige car brands as a substitute method of signaling status. It’s as if the established purchasing pattern has been inverted: while people used to wait until their 50s before driving a Mercedes but bought a flat in their 20s, now they’re shopping the other way around.