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Flatshare In Your 50S

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https://uk.finance.yahoo.com/news/living-flatshare-50s-070003625.html

Cramped conditions, rising rents, and rogue landlords - barely a day goes by without a headline detailing the London rent crisis.

Largely, the discussion around getting onto the property ladder focuses on the young - those who have been dubbed ' Generation Rent ' - but the growing rent crisis in the country's capital isn't only the plight of those under thirty.

The latest ONS report on home ownership and renting in England and Wales found that 25 per cent of those aged between 50 and 64 were renting.

And, according to property listing site SpareRoom, over the last 5 years the number of people living in flatshares between the ages of 55 and 64 has risen by 343 per cent. Additionally, the over 65s have seen a rise of over 600 per cent.

Almost one in ten of flatsharers who use the website are now over 45 years old, bringing the average user age of the site to nearly 29 years old.

Matt Hutchinson, director of SpareRoom says flatsharing into your forties and beyond is becoming increasingly common: "Whether we like it or not, we're being forced to rethink our aspirations of homeownership as Britain moves towards becoming a nation of renters.

"Property prices are already out of reach for many first-time buyers and increasingly, we're seeing older renters opt for house and flatshares over renting solo in one bed flats."

Despite working for a law firm, 57-year-old Linda Thompson* has been renting since 2008 after returning from working abroad. Prior to this, she had been living in social housing and had employed flatsitters whilst she worked in Bermuda for two years

After six months into her stay in the Bermuda, she was forced to give up her social housing and kick out her flatsitters: "It wasn't a very desirable situation and I was left looking for a new place to live when I returned from working in Bermuda."

For six months, in 2011, she moved back into her family home whilst she and her siblings attempted to sell it after the passing of her father and she has been renting ever since.

Like many others her age, Linda is unable to rent a one bed flat alone, and has been forced into flatsharing with strangers: "For a lot of people, they have this idea that flatsharing is like something out of Friends . It's not.

"More often than not, you're living with people who don't know each other. These people are complete strangers."

For many, flatsharing has become almost synonymous with twenty-somethings fresh from university, which can be difficult when you're looking to move in somewhere new: "I don't mind age," says Linda, "but I do imagine people look at my age and think 'oh no, we can't live with her'."

To get around this, often, Linda will rent out a spare room and live in the same house as her landlord or lady: "In the end, it doesn't really bother me who I live with," she says, "my main goal is to work, I don't really do anything else."

I would like to think that Gordon, Tony and Dave have read this and wept but I doubt it.

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It's almost as if making shelter as expensive as possible might have negative consequences for people's freedom and quality of life.

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While working in Bermuda she 'employed flatsitters' in her social housing accommodation, which she was forced to give up six months into her stint abroad.

Missed that but I don't think it was quite the same as sub-letting as she had to give it up after 6 month. Does anyone know the rules around this?

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Missed that but I don't think it was quite the same as sub-letting as she had to give it up after 6 month. Does anyone know the rules around this?

Must say I took it with a large pinch of salt. She was away for 2 years in total IIRC - how many people really do PAY other people to flat-sit while they're away for a long time?

I don't know what the rules are - maybe they vary according to the council - but I would have thought that if you were going to be away for that long, and the council found out, they would reason that you were no longer in need of the flat.

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It seems to me that we are going back to the era before cheap mortgages and mass social housing, when even relatively well off people lived in rented rooms in private lodgings/boarding houses/private hotels etc.

In the old days, single people lived in digs somewhere quite central, but when they got married and had children they would be able to get a mortgaged house or perhaps a council house somewhere a bit further out. My own father did this in the 1960s; he lived fairly centrally in London in a boarding house but when he got married, moved out to the suburbs and bought a terraced house costing about 2x his annual salary.

The difference is that now, there is nowhere affordable left to 'move out to' because prices have reached maximum levels everywhere where working people actually want to live.

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It seems to me that we are going back to the era before cheap mortgages and mass social housing, when even relatively well off people lived in rented rooms in private lodgings/boarding houses/private hotels etc.

In the old days, single people lived in digs somewhere quite central, but when they got married and had children they would be able to get a mortgaged house or perhaps a council house somewhere a bit further out. My own father did this in the 1960s; he lived fairly centrally in London in a boarding house but when he got married, moved out to the suburbs and bought a terraced house costing about 2x his annual salary.

The difference is that now, there is nowhere affordable left to 'move out to' because prices have reached maximum levels everywhere where working people actually want to live.

Very true and very sad. Although people I know on benefits are still ok!

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Old(er) does not mean less fun ...

11949310_631446463664922_416471966035725

As this guy seems to have committed every fashion faux pas going, I guess his Street cred must be well up there. Most middle aged fat guys dare not even wear socks lest they commit a fashion crime, only young black kids seem to get away with it these days.

http://www.telegraph.co.uk/men/fashion-and-style/11624777/Summer-style-tips-for-overweight-middle-aged-men.html

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