Millions of future pensioners are destined to spend their
retirement in rental accommodation as home ownership plummets, estimates show.
Up to a third of 60-year-olds will be renting by 2040, with many never having
been able to own their own home, it is claimed. Academics describe renting in
retirement as a ‘time bomb’ which will stretch the finances of the elderly
while costing taxpayers billions in housing benefit and social care. Professor
Steve Wilcox, of the University of York’s centre for housing policy, estimated
that only two-thirds of 60 year olds will own their own home within 35 years.
Charities warned this could leave them vulnerable to poverty, poor living
conditions and eviction. Read more on the Daily Mail website.
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