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Rentirement: Nudging boomers overseas, to ease housing crisis

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Hunter boomers could soon be asked to relinquish their homes and head off overseas in a bid to ease rental market woes. 

By nudging Australians aged 67-to-77 to take an extended sabbatical in a country of their choice, a market researcher brand believes the nation could alleviate our housing shortage.  

Suburbtrends is the group proposing the plan, referred to as “Rentirement”, describing it as a pioneering solution. 

With Australia’s older generation releasing their homes into the rental pool and the government offering them the opportunity to travel or retire overseas without penalty, Rentirement they suggest is a win-win. 

Suburbtrends founder Kent Lardner sheds light on the idea. 

“Our data shows that over 137,000 homes could be released into the rental market if just 10% of the Rentirees cohort participated,” he says. 

“This represents a substantial untapped resource that could drastically ease rental pressures.” 

Lardner suggests that existing solutions are not progressing quickly enough to meet the urgent demand.  

“While increasing housing supply is essential, it simply won’t come fast enough to address the immediate needs of renters. We need creative, bold solutions to bridge the gap now,” he said.

The Rentirement proposal offers a five-year moratorium on the loss of the primary place of residence benefit, allowing Rentirees to live overseas without any penalty, including retaining their pension benefits.  

Southeast Asia, with its significantly lower cost of living, presents an ideal destination for these retirees.  

“Our Rentirement concept is a win-win for all parties involved,” Lardner says. 

“Rentirees can enjoy a higher quality of life at a fraction of the cost, renters gain access to more housing, and the government can alleviate pressure on the housing market without significant expenditure.” 

Under the Rentirement initiative, just 10% participation from the Rentirees cohort could release over 137,000 homes into the rental market and cause an immediate influx of rental properties, stabilising prices and reducing vacancy rates, providing much-needed relief to renters across the country. 

Suburbtrends is urging policymakers to consider this innovative approach.  

“We believe Rentirement offers a practical and timely solution to Australia’s rental crisis,” Lardner concludes.  

“It’s time to think outside the box and explore every avenue to ensure a stable, affordable housing market for all Australians.” 

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