Author:Alan Johnson, Salvation Army Social Policy and Parliamentary Unit
Source:Salvation Army Policy and Parliamentary Unit
Salvation Army Policy and Parliamentary Unit. This report considers the housing futures of the around 200,000 people who in 2030 will be aged over 65 years old and not own their home. A large proportion of these people will be baby boomers - the generation born immediately following World War II between 1946 and 1965. New Zealand home ownership rates now stand at around 64 per cent - the lowest level in almost 60 years. Nearly two thirds of the almost 430,000 new households formed between 1991 and 2015 are tenant households and there is clear evidence of a structural shift in both housing tenure and the ownership of wealth. The baby boomers’ children and grandchildren face the real prospect of remaining tenants for their whole adult lives – at least under present policy settings.