Takes a critical look at asset ownership, the agenda behind the government drive to promote affordable home ownership which has now metamorphosed into the suite of Homebuy products. Refers to the recent Institute for Public Policy Research paper (see L130861) as the first and damning examination of the policy objectives behind the asset ownership initiative. Surveys the mixed reactions by housing associations to the Homebuy programme. Outlines the private sector's interest in shared ownership. Asks the fundamental question about the asset ownership programme- who is it intended to help? The government target is people on low income but market experts see the main beneficiaries as those who cannot afford right to buy and young people with prospects starting at the bottom of the property ladder who will be able to staircase, increasing their share in their property over time.