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In unsurprising news, the housing crisis is negatively effecting young people.
And in more unsurprising news, majority of young adults in Australia cannot afford to buy a home (SHOCKING!! I KNOW!!).
Research company Resolve Strategic found that 67 per cent of people aged between 18 and 34 believe they will never own a home in their area.
University of Sydney professor of urban planning Nicole Gurran says owning a home has become much more difficult this past decade.
"Unless you have access to inherited wealth or an astronomically high income, you face hurdles that just didn’t exist even a decade ago," she says, "particularly in the major cities but increasingly in regional areas as well."
In recent years Australians have also seen a dramatic jump in rental prices which has left renters little wiggle room in their savings account for a housing deposit.
Kate Colvin, National spokesperson for Affordable Housing Campaign Everybody’s Home, says it's "callous and unrealistic" for politicians to expect workers on $40,000-$45,000 salaries to save up for a home loan.
She says youth allowance recipients and entry level workers in the hospitality and retail industry are being pushed out of the property market - majority are having to spend half their wages on rent if they live in a capital city.
"Young Australians are caught in a vice of surging rents and declining real wages," says Colvin, "everyone deserves the security of a stable home; this should be a right, not a privilege."
So what happens now to the Australian dream of owning a home?
Will it actually become a reality for young Aussies or just a mythical fairytale?
Header Image: Kaleidoscope News
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