What happens to people who haven't bought a house when they retire?
- Thread starter RobFTM
- Start date
I don't smoke, drink occasionally, no pubbing/clubbing, don't wear designer or branded clothing, never been on holiday, don't own a car, do my own repairs and maintenance, FFS I don't even own a sofa. I'd say that is pretty disciplined, all be it enforced discipline not through choice.
None of that has allowed me to buy a house or invest tens of thousands into pensions or other properties, so I'll pass on the patronising Fisher Price My First PDF life coaching books, ta.
The Far North
pfm Member
CraShWilliams
pfm Member
I have an elderly diabetic neighbour, he's been in the area for near on 15 years and when I first arrived (nearly ten years ago) not many were speaking with him - long white beard, face full of tattoos etc. During lockdown 1, I made a point of getting to know him and we've become friends - several neighbours are looking out for him now etc. He was homeless for a period of time and loves the outdoors (also loves Hawkwind, and I was his helper when we went to see them a couple of years back in London) - he's a private renter and where we live (Lewisham suburb, SE London) our area has got very popular and his Landlord put his rent up from about £800 to a £1000 quid a month, he's now looking to put it up a again - this is for a poxy one-bed damp ridden flat with a key meter. He's already having to top his rent up out of what bens he does get and I very well imagine that in the next 12/18 months, he won't be able to afford his rent anymore and he'll end up moving further out of London and having to start again - he's not computer literate, and he's really struggling. I despair at what's going on in this country, people like this neighbour of mine are just chewed up and spat out - the landlord does not give a hoot, there's people queuing up to rent this flat 
Funk
pfm Member
https://www.politico.eu/article/ireland-gdp-growth-multinationals-misleading/
“GNI Star” (GNI*) shows that Ireland’s underlying economic activity is about 40 percent lower than the headline GDP figures: https://www.cso.ie/en/releasesandpublications/in/nie/in-mgnicp/
It is worth bearing in mind that the state pension has been increasing above the level of wages for quite a few years as it is linked to whatever is the larger of the cost of living/wage rise indices.
Just think how bad it might be otherwise - does not bear thinking about.
Also bear in mind that there are numerous extra benefits that might apply, if people can be bothered to find out and apply.
My parents had nothing but a state pension, but did own their own tiny house. they were never so well off as after my father retired.
Just think how bad it might be otherwise - does not bear thinking about.
Also bear in mind that there are numerous extra benefits that might apply, if people can be bothered to find out and apply.
My parents had nothing but a state pension, but did own their own tiny house. they were never so well off as after my father retired.
hifinutt
hifinutt
I have an elderly diabetic neighbour, he's been in the area for near on 15 years and when I first arrived (nearly ten years ago) not many were speaking with him - long white beard, face full of tattoos etc. During lockdown 1, I made a point of getting to know him and we've become friends - several neighbours are looking out for him now etc. He was homeless for a period of time and loves the outdoors (also loves Hawkwind, and I was his helper when we went to see them a couple of years back in London) - he's a private renter and where we live (Lewisham suburb, SE London) our area has got very popular and his Landlord put his rent up from about £800 to a £1000 quid a month, he's now looking to put it up a again - this is for a poxy one-bed damp ridden flat with a key meter. He's already having to top his rent up out of what bens he does get and I very well imagine that in the next 12/18 months, he won't be able to afford his rent anymore and he'll end up moving further out of London and having to start again - he's not computer literate, and he's really struggling. I despair at what's going on in this country, people like this neighbour of mine are just chewed up and spat out - the landlord does not give a hoot, there's people queuing up to rent this flat
tragic . so many in this situation
CraShWilliams
pfm Member
@hifinutt so true - I feel very fortunate to be in the situ I'm in. So many older renters around me are struggling to make ends meet and they're having to move away - all those years in a community and friends nearby, all left behind. What really p's me off - not only is the Landlord putting the rent up, his property has also gone up a couple of hundred thousand quid in the time my neighbours been there and he talks about his 'costs increasing' it's just win-win for them, people like that are vermin.
hifinutt
hifinutt
agreed . i rent out a beautiful 3 bed house with a garden for 695 a month and cant put up rent as they cant afford it although need to really beacuse all the costs are rising massively . they actually contacted me this month and said they couldnt afford to pay the full rent so what do you do ? evict a lovely family with a baby ?? no way ... i couldnt sleep at night .
CraShWilliams
pfm Member
I do understand those that have inherited a property (or married and partner has a place) and choosing to rent - my ire is those that have several BTLs and they're maxed out and now because costs are rising (for everyone), are choosing to whack up their rents, knowing they can get away with it - it's breaking up communities and cause there's next to no social care, people are all falling through the cracks.
LecsonQuad
pfm Member
'We need a return to the rent controls of the 1970s.'
No we don't.
We need successive Governments that build a mix of housing in useful quantities then the market will even out.
Whilst I'm on the subject I can't think of anything else not music related from the 1970s that we should look to go back to: Single glazing: Outside toilets : not to forget Watneys.
No we don't.
We need successive Governments that build a mix of housing in useful quantities then the market will even out.
Whilst I'm on the subject I can't think of anything else not music related from the 1970s that we should look to go back to: Single glazing: Outside toilets : not to forget Watneys.
CraShWilliams
pfm Member
CraShWilliams
pfm Member
LecsonQuad
pfm Member
22 years for me richardg without a rent increase although at the end of the current 3 year contract I'll need to put it up by a few percent to cover higher costs of maintenance.
martin clark
pinko bodger
Good choice; it's a ****ing tedious and patriarchal, patronising, long- out-of-date pamphlet written in a ludicrous style - that barely manages to convey what most already live and know.
hifinutt
hifinutt
The problem is many landlords who have mortgages not in a company .the tax man considers the mortgage as income .so you cant claim it against tax . Then they stopped tenant fees and various other ways of penalising landlords. The house i rent for 695 currently has a mortgage of about 160 a month which would rise to about 400 if had a new deal .so add 138 tax a month , other costs such as repairs and insurance and you are making a loss .
This is why landlords are putting up rents
This is why landlords are putting up rents
MikeMA
pfm Member
Yes we do - we need both.
calorgas
Generic middle-aged man
But not really a loss, as your tenants are paying the mortgage off for you and eventually you get to own the house! Or am I missing something else?