The entire problem with this so called proposal is that it is just an unworkable, cosmetic ivory tower conjugation of a pie in the sky idea not based in the real world. Inheritance, under the current world-wide system of Parasitic Capitalism, is the primary mechanism to preserve and expand immoral amounts of wealth and its multi-generational existence and power. What the younger generations are now experiencing is the direct and proximate result of the collateral damages inflicted upon all but the extremely few at the apex of Parististic Capitalism. The proposals out of this British group do nothing to address the fundamental problem that has caused these symptoms and will do nothing to relieve the stress upon the younger generations. Parisistic Capitalism is suffering from its inherent case of Cachexia as it consumes us as its consumers and laborers. It is a terminal illness that has been traditionally treated by the Capitalist self-medicating through the governments that they own. Most recently in 2009 which was the precipice of the Great Periodically Recurring Depression and in the 20th century 1929 and so forth (change your diapers because we’re still there).
In the past our economies have been known by different names. However, for the vast majority of recorded civilization to one degree or another we have lived and toiled under only one form of economic governance: Monarcial Capitalism, where the Monarch (most powerful and brutal individual) and its 1% (those who kept the brute force in power) reap the vast majority of the wealth and other benefits. Until we address the fact that we are still living in a Monarchical system of capitalism we will not solve the social-economic problems we are faced with and build a just and altruistic system based upon the well regulated natural human economy of barter and trade.
Until we address the underlying cause of our problems and eliminate the system of Parasitic Monarcial Capitalist economic governance we will live under what is the end of the road for this article which is not having a house, much less being able to afford one. Think about this: Here in the US if a young person wants to buy a house they usually have to buy one in a subdivision owned and developed by a corporation with the house being financed by large financial institutions (Main Street’s not even in the rear view mirror anymore). All of the terms of the deal are stacked against the buyer including HOAs with extraordinary power over the ownership of the property not to protect the value of the house for the buyer but for the builder and/or the financial institution. Private Corporations run the vast majority of HOAs and exercise its powers. Powers that include fines for minor infractions of HOA “rules and regulations” that can and have led to the confiscation of a owners property without compensation to the owner and said owner still owing the full balance of the mortgage on the confiscated home.
So you have the down payment for a tract house in a suburb. Without the economic reforms and the destruction of Parasitic Capitalism the chances are you will not have a job long enough to pay for that poorly built, nifty new house.