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in wondering what this generation of enforced renters are going to do

(359 Posts)
mustbetimeforacreamtea Thu 10-Jul-14 10:03:46

When they reach retirement and can't afford commercial rents on a pension? What happens then?

FourAndDone Thu 10-Jul-14 10:07:06

There will be no state pension by the time I reach retirement sad

mijas99 Thu 10-Jul-14 10:09:28

They'll get housing benefit just like they do now

FourAndDone Thu 10-Jul-14 10:11:06

Also I assume people will have to work till age 70-75 which will pay the rent, then we will most probably die.shock

Hamuketsu Thu 10-Jul-14 10:11:28

Christ, I don't know.

But it really worries me that on all threads such as these, the general agreement is that "there will be no state pension by the time I retire". That just gives the governments between now and then free rein to erode it more and more, because they know that we're counting on nothing, expecting nothing.

mijas99 Thu 10-Jul-14 10:12:13

By the way, I know that house prices in the South East are a scandal but in the rest of the country they arent so bad

In the town I grew up in, a 3 bed family home is around £130k. Not so bad really. I can't get anything so cheap in the North of Spain

MrsWinnibago Thu 10-Jul-14 10:13:33

God knows. It's a terrible, terrible situation that we're heading for. I suspect and have said this for a long time that we will have a "Modern" version of the Workhouse.

Some people might say that's hysterical talk but I firmly believe we're close to having something which resembles that set-up.

They won't CALL them Workhouses oh no...they'll be called something like "Residential Centres" or "Accommodation Centres" but in reality they will be Workhouses.

Those who are fit enough to work for their benefits will have to do so and they will be filled with the vulnerable...single parents, the elderly and disabled.

GilbertBlytheWouldGetIt Thu 10-Jul-14 10:13:55

130k, meaning to purchase it you'd need 13-26k deposit depending on what mortgage deal your bank agrees to. Not plausible for most renters.

FourAndDone Thu 10-Jul-14 10:15:53

The part that really annoys me is that can easily afford 6-700 rent a month. A mortgage for a home the right size would be around £500. But we will never get a mortgage aaaaghh

Degustibusnonestdisputandem Thu 10-Jul-14 10:16:26

It's extremely worrying sad

I'm sure many of the powers that be still yearn for feudalism...

MrsWinnibago Thu 10-Jul-14 10:16:41

They will justify them by saying that there isn't enough land or money to build new social housing. Then they will knock up the first one...and move in people off the homeless lists...people who are waiting for a council house probably and who have no choice.

They will be the most basic accommodation you can imagine. With shared kitchens and bathrooms.

Those who are on benefits will be sent off to work for "experience" as they are being sent now...but they won't get proper wages.

There will soon be an upsurge in people working as domestic the homes of the rich. I say soon...probably within 20 years.

mijas99 Thu 10-Jul-14 10:19:18

Why are renters incapable of saving 13K?

It is £50 per week over 5 years. If somebody can't save that up then maybe they shouldn't buy a house

There is nothing intrinsically wrong with renting. We rent because it is cheaper and more flexible than buying a property in the area we live

mustbetimeforacreamtea Thu 10-Jul-14 10:20:13

I wonder whether if adult children continue to remain at home for longer periods of time we will see more retired people living with their grown up children pooling their joint resources.

MrsWinnibago Thu 10-Jul-14 10:20:44

Mijas rent is often more than a mortgage. Many people who rent are on basic minimum wages and are usually short of money to buy the most basic things.

For some people ALL of their earnings goes on rent, food, bills and there's literally nothing left at the end.

GilbertBlytheWouldGetIt Thu 10-Jul-14 10:21:56

Because in many places, rent is far more expensive than a mortgage.

There are a heck of a lot of renters who could afford a mortgage, if it wasn't for the stumbling block of the deposit.

MrsWinnibago Thu 10-Jul-14 10:23:50

That's right Gilbert we were renting privately last year (had been for 7 years) and we paid more than any of our mortgaged friends.

They'd all been helped to buy years ago by their parents. Ours couldn't do that and we struggled to afford 700 a month for our house which was pretty normal and on the cheap side where we are in Cheshire.

MrsWinnibago Thu 10-Jul-14 10:24:24

And how wrong is that! That rent costs more than a mortgage! it shuold be the other way round.

GilbertBlytheWouldGetIt Thu 10-Jul-14 10:25:08

Each time you move into a new rental property costs over £1000 in fees and removal costs. You might have to move several times over a few years. This also takes a chunk out of your savings. Many people borrow in order to afford these moves, that "only" £50 a week soon gets eaten up in loan repayments.

ThursdayLast Thu 10-Jul-14 10:26:13

mijas I am not able to save £50 a week.
And I would say I'm not in any kind of poverty like some people.

I also think you're generalising massively about house prices outside of the South East!

GilbertBlytheWouldGetIt Thu 10-Jul-14 10:26:16

It's a horrible trap MrsW, literally everyone I know who owns a property has paid their deposit with help from inheritances.

mijas99 Thu 10-Jul-14 10:27:14

MrsWinnibago - they could house share while they are in their 20s or live with parents to save a deposit etc. All things my friends have done. When my parents were young my Dad worked a second job in the evenings to save up a deposit. Or they can rent

I left London because a family house in an area I would want to live was almost £1 million. There are lots of options in the UK, there is property for most budgets. And if not, then make use of the EU right to roam ;)

Seriously, life is what you make of it. Moaning doesn't change anything. There are so many opportunities out there it is crazy, especially in the UK where unemployment is neglible.

GilbertBlytheWouldGetIt Thu 10-Jul-14 10:27:34

Correction - every home owner I know under 50 years of age

MrsWinnibago Thu 10-Jul-14 10:28:00

Mijas who is "they"?

googoodolly Thu 10-Jul-14 10:28:14

I rent and would never be able to save £50 a week! That's £200 a month! After we've paid rent, bills and food there's very little left over. Add onto that the fact that we live in the south east and can't move because DP's kids are here, means we'll never be able to buy a home sad

GilbertBlytheWouldGetIt Thu 10-Jul-14 10:28:53

What about those who are parents in their 20s?

I do agree about the EU right to roam, you can find affordable houses all over europe, if you can also find the jobs!

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