Living longer: implications of housing tenure in later life
30 March 2020
Office for National Statistics recently looked at how housing tenure had changed over time, with future generations of older people more likely to live in rented accommodation than they do now.
This more recent article explores some of the implications this has, including
- Amongst private renting households containing someone aged 60 or over, fewer than half have savings or investments. This compares with over three quarters of those who own their homes outright.
- Not all those who own outright are well-off. While a quarter of older households that own outright had at least £50,000 in savings and investments, almost a quarter had no savings at all.