Those in the private rented sector who pay 40% of their earnings in rent could be forced to spend up to 80% of their income on rent in retirement. “The 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,” said Richard Best, the chair of the group. The report calls for a national strategy to avoid a “crisis of pensioner homelessness”. Brendan Sarsfield, the chief executive of Peabody, who was a member of the inquiry, said: “The problem with the private rented sector is that people think it is the solution. 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.

Source: The Guardian July 17, 2019 04:52 UTC