Massive Rent Increases Will Leave 6 Million Private Renters In Poverty by 2040

Monday 17th November 2014

Today the Joseph Rowntree Foundation (JRF) has reported that rents will rise twice as fast as income, and unless action is taken now 1 in 10 people living in rented homes will be living in poverty.

This means that we are heading towards a situation where homelessness could happen to anyone – it is not just the most vulnerable in society who will end up homeless. With rents that are forecast to rise by 90% – double the rate of income – it is easy to see how more and more people will be finding themselves unable to afford housing.

The current policy of setting social rents closer to market rents (Affordable Rent Policy) would not only force another 1.3 million into poverty but would also cost the taxpayer an estimately £20 billion in extra housing benefit.

It seems that continuing with the status quo of current policy, including the lack of new housing being built, has the potential to create a huge problem in the next 25 years.

At Trinity we believe that there needs to be a radical change to the housing market in the UK in order to prevent this from happening. Whilst one of the most important factors in addressing the housing crisis is the building of affordable homes it is also important to look at the whole market.

The rise of ‘revenge evictions’ and loosely regulated landlords needs to be addressed in order to make renting a safer, more affordable option. We work hard to help people who are suffering the effects of homelessness. We work to house, train, and employ poeple so that they never need to be homeless again – we want to work in a housing market that helps people live their lives away from poverty, despair and low aspirations.

Massive Rent Increases Will Leave 6 Million Private Renters In Poverty by 2040