Young people lose out to pensioners in housing market
Young people in England can only dream of home ownership these days, as 1 in 3 houses are now owned by beige warriors over the age of 65. And while they smugly sit on their decking in their amazing mortgage free homes, occasionally yelling ‘it’s all mine!’, the younger generation is forced to put up with landlords who consider a toilet a luxury.
The Government English Housing Survey revealed that 35% of people are forced to rent, the highest figure since 1987, while the amount of pensioners who own their own homes is at a record 30% high.
In 2003, at the height of the property boom, 71% of people were owner occupiers, but that figure has slid to 65.3%. Meanwhile, the number of renters has risen by 2 million.
The Housing Minister Mark Prisk said the government was 'determined to offer help to anyone looking to get on in life and take that first step onto the property ladder.’ But now house prices are rising again, it seems that even if you want to ‘get on in life’, you’re buggered.
You could argue that older people have worked hard to pay off their mortgages, and therefore should be entitled to enjoy their dotage, using their spare rooms as storage for their spare cash and cigar humidors.
OR, we could demand that they quit hogging all the UK's prime real estate and move their baggy arses into a nursing home (where they’ll end up anyway). Meanwhile they could donate the houses to young families who actually need the space. Just a thought.