As Inside Housing has reported:
A new report published by the National Housing Federation (NHF) has today laid bare the stark economic and social reality faced by the fast-growing number of older people living in expensive, insecure homes in the private rented sector (PRS).
The number of people over the age of 55 in the PRS has rocketed by over 70% in the past decade, growing at three-and-a-half times the rate of the population. This means there are currently 866,870 older PRS households in England.
Of those households, 364,479 (42%) struggle with basic living costs.
This is a dimension of the pension crisis that is not being anticipated and is going to be immensely costly, either in providing support to private landlords when social housing is what is needed or in terms of lives lost as elderly people living in poverty lose the fight to stay alive against the odds imposed on them.
Are we really so indifferent?
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This is one of those issues that goes under the radar of our neo-liberal political class, and this raises some interesting questions that will not just go away.
I’m tempted to suggest that this is just another inevitable end result of the prevailing attitude towards property since the days of Thatcher. Not everyone managed to get on the property ladder. Those that missed out face a lifetime of increasing property prices and rents. When they retire, do they have the pension provision to pay such high rents as we are now seeing? Chances are, no they don’t. Of course, those who managed to get on the property ladder are expected to be rent and mortgage free by the time they get into old age. If they have their own property, at least they have that security. It is clear that many who don’t own property face a retirement of uncertainty. It is that lack of personal security that keeps coming back right now. I will leave aside the added insecurity of renting in the private sector, shorthold tenancies etc, but it all adds up.
Unfortunately, the neo-liberal response is more likely to be to prop up private landlords, than build more affordable state housing.
I will have a look at that report, because I am one of those that are facing a lifetime of living the rent trap. And yes, I do wonder if when I get there, will I be able to afford it? Perhaps it is time to start doing the lottery? Probably more chance of winning that then there is of the neo-liberals actually doing something about the housing crisis.
“Pensioners are economically unproductive units of labour. The only things that can be wrung out of them are rents and utility profits, and the former can easily be boosted by them moving out or dying, to be replaced by someone paying more. Let them die!” (attrib. Sunak, R). š
The only long term solution is building more homes, especially including social housing. Without that, housing costs will continue to increase, exacerbated by increasing population.
This would have to be financed by government, as has been the case in the past. No commercial builder will ever build sufficient houses that it reduces prices and undermines their profit margin. So, again, it is a case of the government starving public investment.
Sadly, in our broken society, I fear that prices will continue rising until there is a serious crisis. Nothing seems to be done unless there is a crisis. By that time many people will have been hurt. It will be too late to resolve quickly. After a prolonged crisis perhaps the situation will be slowly resolved.
If only there were someone one could vote for who had the competence and humanity to resolve such issues before they become a crisis ……
@Tim Kent
The electorate had a chance with Jeremy Corbyn, who said his first speech from the steps of No 10 would gave been to deal with homelessness. He clearly understood and cared.
Alas, he was politically assassinated by the Neoliberal 1% and their willing hitmen in the various powerful lobbies that really run the UK in the interests of the oligarchs – in the classic words of Claude Rains in “Casablanca” “Round up the usual suspects” (except that the suspects were actually guilty, and many of them in the Labour Party, alas)
You can’t just blame the “usual suspects”. Millions of ordinary people were mobilised to flood into voting booths and reject a revival of true social democracy under Mr Corbyn. The lies had it. Our electorate rewarded the liars instead of those ready to try to put things right: as usual. And they probably felt patriotically proud of themselves for doing so.
…”housing costs will continue to increase, exacerbated by increasing population”…Amazing that the useless Tory Govt couldn’t work out that the 750,000 net new arrivals each year all need somewhere to live, and failed to build enough affordable homes. https://www.independent.co.uk/news/uk/home-news/uk-population-increase-migration-latest-office-national-statistics-a9164871.html Housing costs have increased due to greatly increased demand from a rapidly growing population (58 million to 67 million in 15 years) & lack of affordable new house building.
Sadly it was perfectly predictable
Iām with Andrew.
JC was / is right on policy again and again.. what a mess this country is in ā¦
He did not write the policy
Who did?
I am sorry – but because I canāt see threads when I moderate comments I canāt answer this.
Terrace housing now..
Is the rabid greed driving deliberately engineered housing shortages to increase profits of all lenders and or investors from top down the actual issue?.
I think it is an aberration in the basic values of those engineering it, and thatās sociopathic in its extreme at the top end or just plain ignorant assumed rightness or sense of entitlement at other levels.
I once saw a man auctioning off weekly house rental to a crowd of approx 80 hopeful people outside the place, that was bad enough except that he had his 10yr old son there with him on the balcony to āteach him how to do thingsā.
We need a seismic shift in personal legally accountable values to change for the better and elected leaders who demonstrate and institute that. In the meantimeā¦ā¦.electorally ridding us all of Tory archetypes would be a good start.
Post WW2 we had a huge housing crisis and government with the will to do something about it. My uncle lived in a “prefab” for 20 plus years, far from perfect but comfortable and safe. With modern construction techniques and the will to overcome a crisis, a solution that would buy time and allow dignity in older age and give young families an independent start is very achievable. Unfortunately neoliberalism seems to relish in the cruelty of watching the have nots struggle to survive.