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A Third Of Over 50S Rent Their Home

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From the article:-

Saga blamed the trend on a combination of the rising divorce rate and high house prices. It suggested many people found themselves in rented accommodation after getting divorced in later life and splitting the proceeds of their family home. High house prices then made it difficult for them to get back on to the property ladder.

So basically people need to team up to afford a mortgage. We will see this more and more - people divorcing, then renting. You can go from smug OO to dirty renter if your spouse cheats on you, or whatever. Now it seems a big part of marriage/relationships is the 2nd income. Lose that, and you lose your home. I can see divorces occurring when one partner loses their job. The whole thing then unravels when the mortgaged can't be maintained on one income. The lifestyle cannot be maintained, and everything falls apart. We are all part of the precariat now - even those in their 50s.

Edited by canbuywontbuy

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Have always said this.....who will be paying the rents when those too old to work can't work?

Their pensions will not cover for the rent for sure....Oh yes, it will be down to the young who still hold massive debt and have little future themselves.....

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Not such a great surprise. With a rentals market that no longer implies a total slum, it works for a proportion of all age groups.

I'd've bought ten years ago (when Northern Rock were keen to lend me money) if today's rentals were half as nasty as back in the pre-AST era. I expect an increasing number of today's over-50s - who were desperate to escape it when young - now see how much better things are for their own children.

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Have always said this.....who will be paying the rents when those too old to work can't work?

Their pensions will not cover for the rent for sure....Oh yes, it will be down to the young who still hold massive debt and have little future themselves.....

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Not such a great surprise. With a rentals market that no longer implies a total slum, it works for a proportion of all age groups.

I'd've bought ten years ago (when Northern Rock were keen to lend me money) if today's rentals were half as nasty as back in the pre-AST era. I expect an increasing number of today's over-50s - who were desperate to escape it when young - now see how much better things are for their own children.

So people in their 50s are renting because the rental market - in your opinion - has improved? It's not that they can't afford to buy property (which the article states as the main reason) on one salary instead of two? And how are things now much better for their children? High rents and renting forever, planless life because the landlord might end your contract, but at least the bathroom doesn't have mold in one of its corners?

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From the article:-

So basically people need to team up to afford a mortgage. We will see this more and more - people divorcing, then renting. You can go from smug OO to dirty renter if your spouse cheats on you, or whatever. Now it seems a big part of marriage/relationships is the 2nd income. Lose that, and you lose your home. I can see divorces occurring when one partner loses their job. The whole thing then unravels when the mortgaged can't be maintained on one income. The lifestyle cannot be maintained, and everything falls apart. We are all part of the precariat now - even those in their 50s.

Pooling jobs and resources always makes for greater wealth and communities......very hard to go it alone.......the number of relationships that have split and equity split, both go into renting because neither can obtain a mortgage in their own right, many women have not worked outside the home for many years......equity will last two to five years in rent.....another 30 to 40 years of rent to go with not enough income to pay it.

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From the article:-

So basically people need to team up to afford a mortgage. We will see this more and more

No we wont...It;s crashing about peoples ears as we type.

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If that's the figure now, imagine what it will be a decade or two of three if you accept the 'mainstream' view that houses will keep going up in price? House ownership for the under 35s is rapidly collapsing so we're in for a situation where mainstream opinion expects the vast majority of over 50s will rent in future.

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Have you not heard of Housing benefit, the family tax credit for the scum BTL landlord world, it would sink without it.

Now £27 Billion per year, aniother decade £50 Billion and then who knows, £100 Billion at some point. I hate this benefit. It encourages the out of work and thick and lazy to breed and shelter in better housing than those earning £30k plus per year

Can't end well can it? Either the HB bill goes through the roof to subsidize the rentiers or an attempt to keep it under control results in a lot of poorer tenants losing their homes. If HB suddenly vanished, the whole house of cards would collapse.

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A handful of (hardworking) people will end up owning all the houses in Britain and the plebs will worship them and aspire to be like them.

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Very few people truly opt to rent. Even though I "can buy but won't buy", I never consider myself as having "opted" to rent. It was the least bad choice out of a bunch of bad choices. Nobody opts for a bad choice because the others are worse.

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I would agree, I consiously chose to rent (to get a better place than the flat I owned with my partner) as buying was alot more expensive in comparision (still is at this level but less so now).

Really we wanted to buy, as renting in the UK you cannot call your own and you have no security of 'home'. The LL has more rights and is more unstable these days.

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Imagine a world where property was pretty much like cars and other stuff. It wasn't an obsession like it is today, just a practicality. In this ideal world, property would be cheap and people could buy from a very modest loan, or more likely just with cash. We would be more outward focused, spending more on experiences and actually doing things and enjoying life. Then again, imagine a life with more time on our hands, less commuting, less focus on politics (in this ideal world, politics wouldn't encroach every aspect of our lives). OK, BACK TO WORK SCUMBAG!

Edited by canbuywontbuy

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Have always said this.....who will be paying the rents when those too old to work can't work?

Their pensions will not cover for the rent for sure....Oh yes, it will be down to the young who still hold massive debt and have little future themselves.....

Very true. Sadly making houses cheaper would not be that difficult

1) Make it easier to get planning permission

2) Get rid of transaction costs with buying,selling and renovating homes

3) Don't pay people who don't work in London to live there for more than 6 months

4)Make professional single parents share.

5) Don't pay people to come here - no housing benefit for the first 2 years after arriving.

The above would probably cause a crash so big that I would go into negative equity but it would be worth it for a fairer society.

Edited by iamnumerate

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