Question for people who rent their home?

[witches*wol]

ACA or one of those shows had a segment on people who rent reaching a point of no long being able to afford the increasing rental prices and ending up homeless.

They were not refering to "down and out" people but regular folk who had been cruising along renting nicely but then perhaps lost their jobs and could not afford to pay the rent on their homes anymore and having to either move in with family or live in their cars.

The bloke they interviewed (from some housing assoc) was saying that people who have rented all their lives and then hit retirement are suddenly realising that their super is not going to last very long while they are still paying $300 or more a week in rent and once their super is gone the age pension sure as hell wont cover it.

So what happens to people who do rent when they reach retirement?  Are we going to be looking at a growing group of homeless elderly people? 

[cherry*135]

The average rent here for a 3 brm house (ordinary one, not flash) is $450 now. 

Good question  what will happen in the future to people who retire and still rent?  Centrelink rent assistance isn't going to cover much of the market rents.

[witches*wol]

am*3 ~ Same where we live and a 2 bedroom unit is still $300 plus and the 30 plus year old  3 bedroom 1 bathroom 1 lounge room and a carport house next to our home rents for $450 a week.

Public housing in Victoria is a joke the waiting list is something like 8 to 10 years currently so for someone retiring at 65 to 70 there is a good chance they'll be pushing up daisy's before they get a public house/unit/flat to rent.

[the_hawk*]

There are also a large number of people buying houses that continually remortgage to fund holidays and cars that will still owe the market value when they retire and will end up having to sell and have no equity

[j*oono]

In some areas they are renting out a room in private homes for $100/200 a week.  That is for one room no amenities.  

[*elizabeths-mum*]

A caravan park in Ipswich charges $125 week site only and use of park toilets/showers. You need your own van and pay electricity on top of this. I don't know if that goes up for more than one person. I thought that was a bit wicked.

When our son started Uni 6 years ago, a rented room in a 3 bedroom house in Brisbane was $90 week including internet and electricity. Heavens knows what it will be when next son starts next year. 

[katydidthat]

People on NewStart who rent are paying for housing, food, electricity, water etc on less than $600 per fortnight.  

[kilroy_is_here]

4x2 in my neighbourhood rents for almost $700 a week

[lurker17260]

So what happens to people who do rent when they reach retirement?  Are we going to be looking at a growing group of homeless elderly people?  

Actually, that's a really good question.  What happens to retired people in places/countries where renting is the norm?  I have no idea.

[cherry*135]

There is a lack of supply for leased houses  in a lot of places in Australia and high demand, which pushes the weekly rental up sky high.