To think this is a ticking time bomb (people priced out of housing)

[Batmanisreal]

It’s becoming clear that there is a problem with people not being able to afford housing like they used to be able to. This has been made worse by the introduction of right to buy by Thatcher in the 80s which reduced the numbers of council houses. The price of housing is going up and up, so more people are having to rent on the private market.

So what happens to these people who are privately renting homes, when they get to retirement age? If they can’t afford their rent?

I was lucky enough to be able to buy my house. I have young children who, by the time they get to the age I was when I bought my house, will probably not be able to afford to buy like I was. There’s a very big chance they will have to rent, possibly for the rest of their lives.

People who rent on the private market are at the mercy of whatever rents the landlords want to charge for those properties. And with more properties being rent out as short-term lets this is only going to make the situation worse.

I worry that we are heading for a situation where elderly people will end up on the streets, because there won’t be enough affordable or social housing to supply them with housing if they become homeless in the event of them not being able to afford their private rent anymore.

As a parent, I just find the whole situation so depressing.

Someone said on another thread that we're going to have ghettos again, that are overun by crime whilst the wealthy pay for neighbourhood security

I completely agree 🥺

I think this would work but there would need to be small kitchenettes for more independent living. Not big enough to cook full complicated meals perhaps, but enough to warm up, prepare simple meals and drinks.

Yeah when you reach 55 you lose the urge for a Sunday roast or Christmas dinner Its well documented.

If they are still single at 55 then there must be something wrong with them, eh. Also must irresponsible to still be renting at that age too. Should have done better at school.

Why wouldn't they be able to date?

Pensioners who rent are entitled to housing benefit (means tested obviously)

Would the residents in these over 55 house shares be allowed to have people stay over?
Would they even be allowed a double bed? That would be too generous.

Not for pensioners. Housing Benefit controlled by local authorities is how pensioners who rent afford to continue to rent.

55 year olds are not pensioners

It's scary isn't it. House sharing for the over 70s, queuing for the toilet. Or those with kids moving in with adult kids who have only just moved out. Meanwhile those that aren't renting are often in 5 bedroom homes too big for them. I'm not in the UK but same issues here. I can't understand why there isn't an effort to encourage retired age homeowners to downsize, for example a waive of tax and a grant for moving costs. Many people want to downsize but the cost and effort is too great. So build or renovate small self contained units in city centres and sell them to single occupancy retired downsizers. This will free up so many larger homes to be purchased by families that need the space. It would trickle down to more availability and fairer rents. I know it's not the ultimate solution but it's one idea and I don't know why it's not been worked on already.

Gosh, thanks for clearing that up for me.

What if the rent is more than their HB?

What a weird argument. Are under 35s in shared accomodation forbidden from dating? Why would you think over 55s would be?

I'm simply suggesting providing affordable shared accomodation rental units for those who haven't made suitable pension provision and would struggle to rent in the open housing rental market. Ideeally regulated, and with a cap on the costs that can be charged to HB limits, so anyone entitled to full HB wouldn't have to pay a top up.

You are trying to twist my words into saying something I'm not saying.

I'm advocating for well designed, regulated, age appropriate shared housing options to be available to meet the needs of those who would struggle to afford open market private rental in retirement, that's all.

FFS, exactly! That's why I'm saying we should be providing decent, affordable shared housing options for them. Of course they can rent in the open market if they prefer and can afford to.

There really isn't suitable accommodation. There are usually very expensive bungalows, and many are converted with upstairs rooms added.

There are apartments full of younger people in city centres and no outside space. Only ideal for those still out partying.

Smaller houses with stairs that are often less accessible than bigger houses as stairs are steeper and bathrooms don't have space for accessibility equipment.

And private apartments with shared lounges, gardens, and very high service charges. They are a rip off, but are actually what a lot of older people want. A small apartment to yourself. A shared lounge and garden for socialising, gardening and cleaning of communal areas paid for and window cleaning. A bookable guest space that is paid for per night. Space for mobility scooters and charging. But they are a rip off.

It's why so many just stay in their too large house.

There are also people with children who have rents not covered by HB.
Are they going to live in shared housing too?

Are under 35s in shared accomodation allowed to have people over? Are they even allowed double beds? Why do you keep implying I'm suggesting we treat older people worse than under 35s, or making up random rules when I've never remotely suggested such a thing?

What's that got to do with this thread on the ticking time bomb of pensioners not being able to afford private rental on the state pension?

(But in any case they do share accommodation, and can only have 1 bedroom per couple, per 2 children of the same gender or either gender under 10 etc. )

I really like the housing coops popping up. Most are extended friends groups clubbing together to develop a plot of land into communal living.
For elderly people it sounds ideal, I'd love to use something like this now and I'm in my 30s.

This one here sounds great and they take on women 50+
https://www.owch.org.uk/

Sigh indeed, your post didn’t address my comment in any way. If people consider themselves’true’ socialists they wouldn’t have bought the houses and removed them from the social housing pool.

My FIL would be in rented accommodation were it not for the fact his ex-wife allowed (in her will) for him to move into her retirement flat for as long as needed. Whole family supports this but it’s stopping my single in-law from having funds to get on the property ladder.

The thing I see the future is houses not being worth the price people think. Eventually if no one can afford homes then the prices have to come down. It’s all very well having a house worth £600k but it’s not worth anything if no one can afford to buy it. I was shocked to hear a young colleague saying she has a 40 year mortgage. She is in her mid 20’s and in a very profitable job but I didn’t think that was even a thing.

This

I'm absolutely petrified about my future. I'm 55, only ever rented privately (been on a waiting list for social housing for years but I don't have kids so I'm a long way down the list). I work a low paid job as a self employed cleaner. After rent and bills etc, I simply haven't been able to contribute to a private pension.

My lower back hurts by the end of the week so God only knows how I'll be able to cope working full-time in 5 or 10 years time.

No chance or any inheritance.

I'm well and truly stuffed.

Solidarity to others in the same situation.

Google “Chelsea Pensioners” and you’ll discover quite a few