The Devastating Effects of Rental Stress Due To Rising Costs Of Living
St Merkorious Charity is dedicated to making a difference in the life of people that are facing rental stress. As a result of the Covid-19 crisis, rental stress has affected individuals across Australia, specifically in Sydney suburbs. Through this, there has been a decrease in the demand for rental properties in which many rental properties have now become vacant.
The Rising Cost of Living
The increase in the rising cost of living as a result of the Covid-19 Crisis has left many individuals across Australia, especially in Sydney suburbs, to feel uncertain and not secure in their living arrangements. The most significantly impacted are those who live in rental properties and as a result, the majority of rental properties have now become vacant. Further to this many individuals and families have needed to address the increasing economic pressures in which they have been forced to spend their savings to make up for the rising costs. In some cases, people have become homeless while they deal with unemployment, healthcare costs and other everyday essentials such as food, education and housing.
``Home is a shelter from storms – all sorts of storms.`` - William J. Bennett
Rental Costs Leading to Homelessness
A recent national survey by Savvy found that 1.42 million Australians were likely to experience some form of rental stress, with 1.1 million experiencing severe rental stress. Housing affordability within Australia has led many families and individuals to deal with the rising pressure of rental stress. Extra support is now needed in communities facing this issue in which the affordability of everyday items has also become a struggle for individuals to deal with. The Covid-19 crisis has only enhanced the issue of rental stress in which employment has reached a greater downturn affecting the income for most families and individuals, in which most people’s income ends up back into the economy.
The Effects Rental Prices Have on Elderly Individuals
Elderly people are currently forced to deal with rental stress in which the rising cost of living has made a great impact on their lives and how they cope when they are forced to spend extensive amounts of their aged pension. Through this, the pressure placed on rent has affected the health and nutrition of many individuals as they are cutting down on food and medication to make up for the increasing price of their rent. For older individuals, they must aim to maintain healthy habits especially as they begin to get older and need to deal with other essential issues.
St Merkorious Charity has been able to provide the essentials for everyday living to help assist those facing food insecurity, poverty and homelessness. Through this, we understand the effects Covid-19 has had on the community and the well-being of most individuals. Our main focus is to provide an environment for all individuals to access meals, clothing, homework support for children and families, and other necessities that assist in ensuring they receive the care they deserve.