Until now, the majority of older people in Australia have achieved the goal of owning their own home outright. Hence, policymakers have typically shown little concern about the size and budget costs of rental housing assistance programs for seniors. However, two major societal shifts are set to propel such programs into the spotlight as a prominent government subsidy for older Australians.
The first trend is population ageing. We anticipate that baby boomers will place growing pressure on housing assistance programs as they age.
A second shift – falling rates of home ownership – could further increase the demands on the housing system.