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30.09.25 - 11:30
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Australia′s Soaring Home Prices Force Record Numbers Of Retirees To Rent (ZeroHedge)
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Australia's Soaring Home Prices Force Record Numbers Of Retirees To Rent
While US home prices remain elevated and despite some price drops in recent months, affordability remains near all time lows, the housing picture is far worse in various other countries.
One such place is Australia where more retirees are renting than ever, as soaring housing costs and longer working lives expose the limits of the nation's much-hailed pension system.
The portion of retirees living in private rentals has doubled over the past two decades to 12%, according to a a recent government-funded survey. Over the same period, those who (can afford to) own their home outright slipped from 75% to 66%.
“Retirees who rent are far more exposed to housing stress,” said Kyle Peyton, co-author of the Household, Income and Labour Dynamics in Australia survey, which tracks the same 16,000 people annually. “This group of renting retirees is only likely to grow.”
As Bloomberg notes, the findings highlight how housi...
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