Housing Crisis and Student debt
The housing crisis and student debt are splitting generations – and will have severe ramifications for the UK carpet industry.
We all know there is a severe shortage of homes – and that the Bank of Mum and Dad is being heavily relied upon to get many youngsters on the property ladder. The danger of locking our children out of home ownership is that life is reduced to working to pay someone else to rent – and the landlord is unlikely to be willing to put quality floorcoverings down. Similarly, even long term renters are, in all probability, won’t be keen on investing in a quality floor.
Where does this leave the UK carpet industry? Time will tell but consumer attitudes to carpet may well change again and we might find ourselves slipping even further down the household priority purchase list. The grey pound cannot keep the industry afloat for ever. We all need to look out of the window.