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Retiring renters face homelessness as ownership rates fall and cost of living surges

As home ownership falls, rents grow and the cost of living continues to surge, older renters are in need of more help when they enter retirement.
The article from The Nightly discusses the growing issue of housing insecurity among Australia's aging population, particularly those who are renting rather than owning their homes. As homeownership rates decline and the cost of living increases, many retirees are facing the prospect of homelessness. The piece highlights that the traditional Australian dream of owning a home is becoming less attainable, leading to a significant number of older Australians entering retirement without the financial security that homeownership provides. This situation is exacerbated by rising rental costs, stagnant wages, and insufficient retirement savings, pushing many into precarious living situations or even homelessness. The article also touches on the broader implications for social policy, urging for more robust support systems to prevent this emerging crisis among the elderly.

Read the Full thenightly Article at:
[ https://thenightly.com.au/politics/australia/retiring-renters-face-homelessness-as-ownership-rates-fall-and-cost-of-living-surges-c-17666759 ]