Mass of pensioner-renters will hurt government finances, think tank warns

“Ageing millennial renters will present the government with a major fiscal challenge in future years, a major thinktank has warned” writes Matthew Lynn for Half of millennials will still be renting in their forties, and a third could still be renting by the time they claim their pensions, the Resolution Foundation has claimed in a new report on housing.Renters relying on pensions to fund their ongoing housing costs, rather than living in un-mortgaged homes could prove a major burden for the government, leading the amount spent on pensioner housing benefit to more than double, reaching as much as £16bn by 2060.Projections, revealing a perfect storm of an ageing population and a higher proportion of older people in insecure and costly rented accommodation illustrated how policymakers must tackle the housing crisis now or face footing a massive future bill, the report said.

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