So what happens when we're all old and we don't own our homes?

[user8665410]

Genuine question.

I'm a millennial with no hopes of ever buying a property despite earning a decent income.

There are many in my situation.

What happens when we're all in our 70s, 80s and 90s - which we will be because medical technology keeps letting us live longer - and no longer able to work. Where will we live? Who will support us? Will we just get kicked out of our homes we've been renting for (potentially) decades??

My current rent is £2,585.00, the State won't be supporting that I'm sure.

Is that a month where do you live!?

Agreed , life is going to increasingly feel more like a lottery than anything you have any real ability to determine.

Agreed , life is going to increasingly feel more like a lottery than anything you have any real ability to determine.

Yes, I'm not actually joking about the prison thing.

I also keep thinking how bad it will be for the economy as people end up increasingly unmotivated to earn and progress

Either you'll rely on inheriting a lottery win level of money (so why work hard)

Or however hard you work you'll never make a tangible difference to your lifestyle (relative to the difference a vast inheritance will make to others) so why work hard

It's a risky path we are trundling down economically

We will all be in the dayroom of the oap home arguing about what music to put on nsoul, ska, mod, techno, britpop, metal etc. 😁

Good point. You might inherit your parents' million pound house, more than you could possibly save in your lifetime. Or you might not. Of course, if your parents are well off, and have a million pound house, you are more likely to be educated, in a well-paid job, etc., so need the money less.

The rest of the population are stuck at the bottom.

So what happens when we're all old and we don't own our homes?

What do you mean by all

People of all ages are buying their own homes. Agreed some will never do that but only some.

Lol! Hope they're not playing Vera Lynn when I'm there. I want Bowie, Ska and a bit of grunge thrown in.

We need Mumsnet residential homes . We can have an AIBU room people can go in when they feel a bit ragey ...

"So what happens when we're all old and we don't own our homes?"

This is a strange question. You do know there are already a lot of pension age people who rent, right?!!

The current system is much more generous to pension age people than to working age people. If you're pension age, you're likely to be eligible for social housing - there is more social housing for older people - which means you'd get a council or housing association property with a rent that's much lower than private renting. Plus you'd have better housing security; in other words you have much more protection from eviction.

If your pension income doesn't cover your living costs and rent, you can claim benefits and they are more generous than for working age people.

Assuming the system doesn't change drastically between now and then (and it probably won't), you'll be fine.

I think the point the op was making was that if an increased percentage of people become reliant on this help then there might not be enough to go around. Particularly with an aging population and the lack of new social housing being built.

And actually the position now is that some older people have a dire time actually.

So no we can't assume the future is all rosy and fine.

@AnotherEmma yes i thought the same when our HA threatened to destroy my DHs mobility scooter. 🙄

Same HA told us there was no accessible housing available. Pensioners tend to need the housing to be accessible to allow for limited mobility and the other things that happen with old age,

Us Boomers are all going to die, and as we are the biggest generation in recorded history and a lot of us will leave houses unoccupied, then housing shortages should unwind. Whether they will be anywhere people want to live is another matter entirely. Look at rural areas of Europe: there are swathes of France, Spain and Italy where houses are cheap as chips... but there are no jobs and no services. The population has been moving to cities for better work opportunities since the 19th century.