To worry about 1/3 of people that will never own a home

[jnfrrss]

www.theguardian.com/money/2018/apr/17/one-in-three-uk-millennials-will-never-own-a-home-report

Isn't the housing benefit bill for all these people when they retire going to cripple the country?

Buying a house seems to be expected and became the norm or is aspired to, but I think renting used to be more common before this big push to own.
Both sets of my grandparents always rented their homes; and I grew up in an LA rented house. My mum only owned after leaving that house at age 40 and buying a house with her new husband. My dad bought his first house at 46.

Trouble is there just aren't the LA houses any more as so many were sold off.

Renting is the norm in many European countries.

I highly doubt that my generation are going to be in receipt of many benefits because the welfare system as we know it is already failing.

Renting isn't the norm across Europe. en.m.wikipedia.org/wiki/List_of_countries_by_home_ownership_rate

Renting used to be cheaper than buying, now it's 3 times higher!

Then there's the issue with no tenancies for life. Big big problems ahead.

Renting might be the norm elsewhere but tenants generally have far better rights than in the UK eg they can’t just kick you out because the landlord decided to sell up. That will have to change if no one is able to buy.

It isn't just £ that stops people.

ILs didn't buy until their 50s. They bought because I showed them that a mortgage was cheaper than rent. They had no idea (and enough for a deposit in the bank). Once they had bought ALL their adult children bought. It was just a state of mind. Plus Labour voters who thought it was wrong to own property (until it was pointed out they would be £ better off lol!)

Why are you worrying about other people? Some like the option to rent.

Having a good pension is more of a priority. I doubt the next generation will get a state pension so it really is more important to provide for old
age.

Renting did use to be the norm, but so did multiple generations in a house.
Once you retired, you either had a good pension or you lived with your adult children who were earning.

If renting is to be the norm going forward I wonder if we may see a return to this - I certainly can't see how most of us will afford rent on the pensions we are likely to get, and as pp said I can't see the state being able to pick up a housing benefit bill that high!

Renting is a joke. I posted a thread about my neice recently - her LL is screwing her over regarding returning her deposit. Dneice took good care of the house when she rented it, but still, she couldn't have a pet, paint, put pictures up. She had to take a morning off work every 3 months so the letting agent could do tenancy inspection. They looked in her wardrobes for goodness sake! No privacy. She is now pregnant and has just bought her first house with her fiancé. The house is bigger then her rented house, yet her mortgage is HALF what her rent was. And it's hers.

The whole way through her tenancy, the LL and letting agents acted as though they were doing Dneice a massive favour by allowing her to live there.

I'm worried.

My small town, in which I've lived for 3 years never had homeless people on the streets until recently. Most of them aren't actually begging...it's just been clear they are homeless during the lastest cold snap when they've had to be sat outside covered in sleeping bags.

I got made homeless as landlord sold up- luckily I have kids so got somewhere to live. The people I've spoken have been single males...so not a priority and not enough housing for people who are claiming benefits.

I think everyone should be entitled to a home- not a property portfolio, and the only solution I can see is for local authorities to be allowed/given funds to build more property. People say "oh it can't be afforded" but a roof over your head should be a basic human right. I'm so grateful for my council house. It means security for me and the children- we won't have to move again unless we want to!! The rent is genuinely affordable- when I am well enough to work I won't have to rely on benefits to pay the rent, I'll be able to do that myself. My situation feels lso privileged, but everyone should be entitled to this.

We've a huge crisis brewing as decreasing home ownership hits the fan at the same time as crap pension provision.

Not that this government gives a toss.

Laurie Why is it the Governments responsibility to fund your pension, when unless you are too ill you should be working and saving your own pension?

I think it is the government's responsibility to ensure people are able to save for their pensions. Given the high cost of living and badly paid, insecure employment, a sizable number of people are in no position at all to put money away.

There just isn't the space to keep building more and more homes—whether they're rented or owner-occupied makes no difference really. People will have to get used to living in smaller properties and sharing with extended family (quite often grandparents, parents and children living under one roof), like in the old days. Look at the situation in the Far East where some people live in basically what is a cupboard with a bed in it!

When I was a child most of my friends lived in rented houses.
The problem now is that renting is really expensive and there is a lack of social housing. People who can't afford to buy can't expect a home for life as they could years ago when there was council housing in good supply.

Renting is the norm in many European countries.
No it isn't. I have lived in some of them and never known anyone who can afford a house but prefers to rent. This must be a UK urban myth.

Don't worry about them. If people want to own property there are always ways round it

I actually think we are heading for a really shite future in the UK. I can’t see how there isn’t going to be an increase in income tax.

Why do you assume they'll all have their homes financed by housing benefit?

My mum took £20K in business loans and got me to sign as guarantor (false pretences - long story. I was young and naive) and now I will probably never own a home as it's too late to get a viable career to support it. Mum never paid a penny back and I couldn't do a thing until it was either paid like fuck I was going to pay off £20K I never even saw or wait for the 7 year statutes barred timeframe. I had the choice to be a SAHM or not and chose it rather than go back to work and have my wages garnished.

Maybe one day we'll have a windfall. Until then, we'll do just fine renting.

What Iamagreyhound says. Also, not everyone aspires to home ownership.

With employer pensions having been downgraded in recent years in most sectors and in all likelihood the state pension going the same way eventually plus rent prices perhaps continuing to increase then few pensioners will be able to afford to rent without housing benefit.

I'm a renter and very happy thanks! It's flexible, the boiler isn't our problem and we can move when we want. I love it.

One in three will rent which means two thirds will buy!
Doesn't sound too bad if you think of it like that.

Some people really don't want to buy. Some don't want the responsibility of home ownership, and some of course will never have the determination and self discipline necessary to save for a deposit.

For generations now, it's been a struggle for a lot of people.
Some are willing to make sacrifices to achieve it, others are not.

I think it's the tenancy rules that have to change, the solution isn't everyone owning their own home, some people would never manage with this, they don't want the hassle, the extra bills and might feel trapped when they want to move and cant afford the costs of moving. As has been said, our parents and grandparents managed perfectly fine renting their entire lives with secure LA tenancies. That's where progress needs to be made.