“How can lifelong renting be made more compatible with retirement saving?”

Jun 20, 2023 | In the news

Here’s a future problem that will doubtless be kicked down the road until it becomes a crisis. There’s a whole generation who may never be able to afford to buy their own homes. They may well not have any meaningful savings or pensions either, if unregulated rents continue to rise and pension saving remains an option  not a must. In many other countries, of course, renting is the norm and home-ownership less so, as was the case here until the Maggie-revolution (kids etc). My grandfather was not able to buy his own home until he retired and had a lump-sum from his final salary pension, not something his great grandchildren will enjoy. Elsewhere, there are proper rent controls and compulsory pension savings regimes. If you want a free-market free-for-all, you (or probably others) will have to, alas, suffer the consequences. Someone with some vision and a long-term view needs to get a grip sooner rather than later. I’d say.

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