Wake up London: we are in danger of becoming homeless when we can no longer work

Wake up London: we are in danger of becoming homeless when we can no longer work

Time is running out to avoid an "inevitable catastrophe" of homelessness. We cannot depend on the property industry to help us: their solution for the housing crisis is to squeeze us into high-priced micro-homes for rent.

Millennials are no longer the new kids on the block: that title now belongs to Gen Z. Instead, the average age of a millennial is 33, which means we are rapidly approaching mid-life.

Yet it does not feel like mid-life at all, even though our hairlines are in retrograde and the biological clock ticks ever louder. We are still stuck in a hellish Neverland of student debt, instant noodles, and cramped dorm-style rooms.

We may be knee-deep in the rat race, but we are still just university students playing adults.

The indignity of having to share a toilet at middle age is nothing compared to what's on the horizon. An "inevitable catastrophe" of homelessness is coming, according to a recent report by an all-party parliamentary group. Hundreds of thousands of today's millennials are likely to lose the roof over their heads once they are no longer able to work.


Rent is the problem.

Rent is why millennials are £20,000 poorer than the same generation 10 years ago - the first generation ever to be less well-off than their parents.

Rent is the parasite sucking away half of the paycheck of the average Londoner, leaving them with crumbs for the piggy bank.

Rent is how capital get two bites of the cherry from labour - firstly by benefiting from their work during office hours, and secondly by taxing them when they rest at home.

But the housing industry believes rent is the solution.

Why? That's because their problem is a different problem. The housing industry is dominated by older, wealthy homeowners, and their problem is not being unable to afford growing up, settling down, or having kids.

Their problem is that their capital isn't earning them more money, because of low interest rates.

That's why their response to the imminent dystopian future for Generation Rent is to exploit them more. The buzzwords of the day are "co-living" and "co-working" - PR-speak for "ways to squeeze more rent out of less space". Don't be mistaken by all the talk about "community" - the "co" really stands for "compressed".

Light at the end of the tunnel

There is a way out. Even if we cannot depend on the housing industry or the Government, this is a crisis Generation Rent can take on ourselves. Using Big Data and sophisticated geospatial analysis, District 34 has created a fast-track solution for the average London renter to get on the housing ladder in two years. Own 100% of your own home (not shared ownership), be within easy direct commute to your workplace, and start behaving like an adult both at work and at home.

Who knows, after you become a homeowner, that mid-life crisis Porsche may still be within reach at some point.

District 34 is a company created by Generation Rent, for Generation Rent. Sign up for our newsletter to start seeing the light at the end of the tunnel.

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