Young people lose out to pensioners in housing market

11 July 2013

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.

Couple sitting in a swimming pool

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.

TOPICS:   Government   UK News   Mortgages


  • HW
    Trolling article of the highest order. Just when we all thought, Lucy, had turned a corner. Doss cunt.
  • Yog S.
    Much the way it's happening in Spain demonstrated by the protests and police violence that followed (you didn't see on the UK news outlets unsurprisingly).
  • Yog S.
    Also Lucy you ought to be looking at those with other homes bought with interest-only mortgages rented out with high rents making the comfortable richer for doing sod all and not even owning the premises after 25 years. Agents for the banks basically. And those renting could just as easily afford the mortgage on where they live.
  • Mustapha S.
    I'm not sure who HW is, but I'd vote for him. Awful ageist article. These houses that the older generation own are inheritance for their children. And your final paragraph is just plain insulting and not even vaguely funny. I've never been one of those Points of View people who moan about anything and everything, but you really are a revolting human being.
  • tom
    WTF Lucy are you real? It's not old people causing problems it's the move to buy housing to rent out. I would have thought the same number of old people have always owned their own home just less young people. In fact Lucy are you chew backer in disguise?
  • shiftynifty
    Oh Lucy....that really is a shit ageist article...thought you were better than that...and please change that feral really is boring
  • Big M.
    Biggest troll on BW? Lucy Sweet. Yeah maybe we should just let people (old people in this case) keep the things they've bought.
  • Captain W.
    Fucking pensioners. Bleating about how low interest rates are robbing them of their savings interest just to help all the people in debt. What they omit to mention is that the reason many people have such huge mortgages is because the fucking pensioners offloaded all the houses they bought cheap at premium prices to the younger generation, giving them the savings and youngsters the debt.
  • HW
    @Captain Wank They may have bought them at premium prices, but im not sure how they can be blamed for rocketing house prices and consequential high mortgages. Why should they sell? They paid for it, through periods of record breaking interest rates. Where would they live if they were to sell up? In care homes- So the owners can make vast sums of money off them? In my home- Where would my kids sleep? In rented accommodation- so property owners have their mortages paid for SFA? Sounds to me your just a bitter wank, who has a shite job and cant afford a house. That has nothing to do with pensioners.
    the Govt can go and fuck itself, we worked bloody hard and done without to have our own house inretirement and I would rather burn it down than hand it over to scroungers or immigrants illegal or otherwise who have paid sod all into the system and are bleedin it dry. At one stage during out mortgage rates rose to 15% and our first mortgage was 9% so you scrounging 30 somethings can piss off and live in the slums you deserve. and well said HW.
  • Mike O.
    @HW I think I love you. @WARWICK I hear you brother. shit article.
  • Big M.
    Why stop at houses? Let's take 5 seat cars off people who don't have kids - force them to move onto mopeds or something, just because they've bought and paid for something doesn't mean they should keep it right? These people should donate their cars to young families who actually need them. In fact why stop there? More than one laptop? Time to 'donate' one to a young family. Tablet? Phone? TV - all the same. Or maybe we should just let people spend their money how they wish. If someone has something better than you (they always do) then it leads to aspiration and ambition. Give people stuff for fuck all, then expect a culture of entitlement with a country full of chavvy fucking scummers who do fuck all and expect the world...
  • Captain W.
    Woooooo, 15% per year occasionally, I'm sure the aggregate 300%+ rise in prices wouldn't cover that over all the years. Like I said, savings out of nowhere. And no it's not jealousy, I've been lucky enough to have a decent equity rise but luckily not suffering the 10%-15% rates of yesteryear, and have a more than decent salary. I do feel very sorry for 20-somethings coming out of uni with loans debt and sky high house prices though.
  • zeddy
    @Captain Wank: Fuck them. They are too busy McDiving to care.
  • Big M.
    Yeah and that old guy in the picture has got a stonner ^
  • Teddy E.
    Well done Lucy. You've got the dregs of the internet who infest this site frothing at their collective mouths!
  • Sideysid
    Yes, but in those days of 15% mortgages what was the ratio of your earnings to the value of your house? Was your partner/wife, looking after kids/housewife or were you paying for childcare? Final salary pension? Things are a lot different for generations nowadays, I would much rather have a 15% mortgage paying off a 50K property than a 3-4% paying off £350k.
  • Old G.
    @HW @Warwick @Mike Oxsore Here, here. Let's hope that the pensioner homeowners join the growing movement to spend all their hard earned cash on cruises and the latest gadgets and re-mortgage to the hilt so their snivelling whining kids don't get ANY inheritance. Go out and earn it like we had to, you lazy good for nothings. It's not yours by right, it's OURS!
  • HW
    Old Git- Quite right, although i doubt a pensioner would be offered the oppertunity to re-mortgage, if they are in the twilight years.

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