Housing Crisis Forces More Australians to Rent In Retirement

More Australian retirees are renting than ever, as soaring housing costs and longer working lives expose the limits of the nation’s much-lauded pension system.

The portion of retirees living in private rentals has doubled over the past two decades to 12%, according to a government-funded survey out Friday. Over the same period, those who own their home outright slipped from 75% to 66%.