The high cost of housing means more people are being priced out of not only owning a home but also renting alone. The share of adults 65 and over looking to rent with a roommate has tripled in the past decade, according to the listings site SpareRoom.
“They’re not the biggest group of roommates, but they’re by far the fastest growing,” said the site’s communications director, Matt Hutchinson.
SpareRoom finds that roommates in general are skewing older. Young people are living with their parents longer, unable to afford moving out or simply trying to save up. Meanwhile, more people in their 50s, 60s and older are unable to make it on their own.
I am 63 and planned it so even if I lost almost everything I still have a place to live. It is my land and my trailer paid for free and clear. It might be a shithole but it is my shithole.
My partner and I split. Want a roommate?
Nothing against you but I prefer to live alone. I don’t even want a GF.
Lol I was just teasing but I appreciate your very compassionate response.
Good. Maybe they’ll finally vote to make building housing easier instead of fucking over their children.
Republicans will designate a scapegoat minority and old people will buy it.
Democrats will follow suit because they don’t want to lose the votes of the elderly, and another minority will go under the bus.
They dont fuck OVER the children
For years there were opinion pieces in publications about how much better renting is than buying. Financial experts made the case that the expense of purchasing and maintenance weren’t worth any benefits of ownership, especially in the long term. After dealing with big rent increases, insane landlords, and apartments being shown while I was living in them I wasn’t convinced. When adding in the relative stability in the of costs of ownership I always thought those experts were full of crap.
Turns out none of those articles took sudden increases in property values and rent into account. Trying to rent an apartment for someone on a moderate fixed income in my area has become damn near impossible. Rents have gone up ~60% in 5 years far exceeding the COL increases most people see from retirement income or even the raises they may be getting from their employers if they’re working.
Buying a home was one of the best financial decisions I’ve ever made.
