Housing crisis pushes retirees to poverty line
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A new report by the Grattan Institute has spotlighted the growing housing crisis among older Australians, with two-thirds of retirees who rent in the private market now living below the poverty line. In particular, single retired women face alarming hardship, as 80% of this group struggle to make ends meet.
COTA Australia, a leading advocacy organization for older people, is urging the Federal Government to act. “The current system is allowing too many retirees to fall through the gaps,” said Chief Executive Officer Patricia Sparrow. “Two in three retirees who rent live in poverty. That’s a shocking statistic that we can’t continue to ignore.”
While housing affordability poses challenges across different age groups, seniors on fixed incomes are among the most vulnerable. Many lack the savings to sustain private rent in retirement. “For older single women the figure is even worse, with 80% of single retired women living in poverty,” Sparrow added.
COTA wants the Commonwealth Rent Assistance scheme to be immediately increased and its structure re-examined. “The Federal Government needs to initiate an independent government-funded review of demand side housing assistance schemes, including the Commonwealth Rent Assistance scheme, as part of a suite of housing and cost of living policies,” Sparrow said.
The plight of renters over 65 is acute, and support groups warn that homelessness rates among older people are on the rise—especially among women. “Everyone deserves to live with dignity in retirement, but the fact that we’ve got two in three retirees who rent in the private market living below the poverty line shows that’s simply not happening,” Sparrow noted.
“We know the largest group at risk of homelessness in Australia at the moment is older women. To allow the current situation to continue unchecked would be to turn our backs on retirees who are falling through the cracks right before our eyes.”
Read also: Affordable housing crisis hits essential workers hard
Ritchelle is a Content Producer for Healthcare Channel, Australia’s premier resource of information for healthcare.
