{"id":14117,"date":"2019-07-17T10:10:47","date_gmt":"2019-07-17T09:10:47","guid":{"rendered":"http:\/\/www.fiveminutesspare.com\/news\/?p=14117"},"modified":"2019-07-17T10:11:06","modified_gmt":"2019-07-17T09:11:06","slug":"uk-renting-millennials-face-being-homeless-when-they-retire","status":"publish","type":"post","link":"https:\/\/www.fiveminutesspare.com\/news\/uk-renting-millennials-face-being-homeless-when-they-retire\/","title":{"rendered":"UK renting millennials face being homeless when they retire"},"content":{"rendered":"<p><span style=\"color: #000000;\">More than 600,000 members of &#8216;Generation Rent&#8217; are facing a crisis of homelessness when they retire. This is according to a government inquiry into what will happen to millennials\u00a0 in the UK who are not able to get a house as they get older. People&#8217;s incomes usually halve after retirement, many in the private rented sector end up paying 80% of their earnings in rent when retired. This means that at least 630,000 millennials are unable to afford their rent.\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">\u201cThe number of households in the private rented sector headed by someone aged over 64 will more than treble over the next 25 to 30 years,\u201d<strong> said Richard Best, the chair of the group.<\/strong> \u201cBut unless at least 21,000 suitable homes are built a year, there will be nowhere affordable for them to live. The consequence is bound to be homelessness for some.\u201d<\/span><\/p>\n<p><span style=\"color: #000000;\">The report found the number of retired people are living in unfit and unsuitable private rented accomodation. Substandard housing is already known to be a big cause of death for many older people; at least 53,000 winter deaths of old people over the past five years have been contributed to conditions related to living in a cold home.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-14119\" src=\"http:\/\/www.fiveminutesspare.com\/news\/wp-content\/uploads\/sites\/2\/2019\/07\/shutterstock_159625895.jpg\" alt=\"\" width=\"829\" height=\"539\" srcset=\"https:\/\/www.fiveminutesspare.com\/news\/wp-content\/uploads\/sites\/2\/2019\/07\/shutterstock_159625895.jpg 1000w, https:\/\/www.fiveminutesspare.com\/news\/wp-content\/uploads\/sites\/2\/2019\/07\/shutterstock_159625895-300x195.jpg 300w, https:\/\/www.fiveminutesspare.com\/news\/wp-content\/uploads\/sites\/2\/2019\/07\/shutterstock_159625895-768x499.jpg 768w\" sizes=\"auto, (max-width: 829px) 100vw, 829px\" \/><\/p>\n<aside class=\"element element-rich-link element-rich-link--tag element--thumbnail element-rich-link--upgraded\" data-component=\"rich-link-tag\" data-link-name=\"rich-link-tag\">\n<div class=\"rich-link tone-news--item rich-link--pillar-news\">\n<div class=\"rich-link__container\">\n<div class=\"rich-link__image-container u-responsive-ratio\">\n<p><span style=\"color: #000000;\"><strong>Brendan Sarsfield, the chief executive of Peabody, who was a member of the inquiry, said:<\/strong> \u201cThe problem with the private rented sector is that people think it is the solution. It isn\u2019t. Insecure tenancies and expensive rents mean that very often it is not a suitable tenure for older people.<\/span><\/p>\n<p><span style=\"color: #000000;\">\u201cMany older people today were lucky enough to be able to buy their own home and watch the value of it grow. But for the pensioners of tomorrow there is little chance of being able to do that,<\/span><\/p>\n<p><span style=\"color: #000000;\">\u201cThe broken housing market and failure of past governments to adequately fund social housing means that we are going to see many more older people struggling to pay the rent.\u201d<\/span><\/p>\n<p><span style=\"color: #000000;\"><strong>Kate Henderson, the chief executive of the\u00a0National Housing Federation, said: \u201c<\/strong>There is now a rapidly growing number of older people who are struggling just as much as the younger generation. This must be a wakeup call to the government that more money for building social housing, and especially housing that is fit for retirement, is desperately needed.<\/span><\/p>\n<p><span style=\"color: #000000;\">\u201cOur latest research shows that the government must invest \u00a312.8bn in building new social housing every year if they are to ensure all generations have somewhere secure and affordable to live.\u201d<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/aside>\n","protected":false},"excerpt":{"rendered":"<p>More than 600,000 members of &#8216;Generation Rent&#8217; are facing a crisis of homelessness when they retire. This is according to a government inquiry into what will happen to millennials\u00a0 in the UK who are not able to get a house as they get older. People&#8217;s incomes usually halve after retirement, many in the private rented&#8230;<\/p>\n","protected":false},"author":59,"featured_media":14119,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"om_disable_all_campaigns":false,"footnotes":""},"categories":[5],"tags":[1438,189,1437,101,43],"class_list":["post-14117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uk-news","tag-elderly","tag-england","tag-rent","tag-uk","tag-uk-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/posts\/14117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/comments?post=14117"}],"version-history":[{"count":1,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/posts\/14117\/revisions"}],"predecessor-version":[{"id":14120,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/posts\/14117\/revisions\/14120"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/media\/14119"}],"wp:attachment":[{"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/media?parent=14117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/categories?post=14117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fiveminutesspare.com\/news\/wp-json\/wp\/v2\/tags?post=14117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}