Older Australians are falling off the housing ladder and face spending their retirement as renters, with the situation expected to worsen for coming generations. Senior Australians in the private rental market are “at much greater risk of financial stress than home owners, or those in public housing”, according to the Grattan Institute’s recently launched Grattan Retirement Incomes Model. Older
The risk is growing that we will see more and more older people living in housing-related poverty. That is one conclusion of the Stocktake of New Zealand's Housing released this week.
Retired lower income households living in the private rental sector face rent increases and insecure tenure while being on low fixed incomes (i.e. the age pension).
This research examines the wealth holdings of men and women at midlife (40–64 years old) and those who have recently retired, and the impact of some key life events in shaping that wealth. Approaching retirement and retirement itself can be a stressful and insecure time if the resources are not available for achieving a modest lifestyle in retirement.
New Zealand is facing a growing population of homeless older people. The Salvation Army has released new research estimating that by 2030, 200,000 retirement-aged won't own a house and will be unable to afford rent.
This report considers the challenges New Zealand faces with an increasing number of people reaching retirement age as tenants. These challenges not only include those around adequacy of income but also those around availability and access to suitable housing. In addition there is an overlaying challenge of the sheer number of people reaching retirement age over the next decade.
Abstract Over two-thirds of Australians are owner-occupiers and a majority of the population holds most of their wealth in housing.
The dramatic increase in the number of Australians turning 65 over the next 20 years is now an established demographic fact. Treasury projects a doubling of the seniors’ population by 2 050, with an economically signi fi cant reduction in the ratio of t axpayers to retirees.