Property analysts say a mix of economic conditions, policy settings and demographic shifts are among the reasons for the city's subdued dwelling price growth in the past five years.
How many young people have you actually spoken to? Or is this just casual observation from Sky News? Because I know a whole bunch of younger people now that I’ve gone back to uni to switch careers after 20 years in the work force, and I can tell you that they’re absolutely struggling.
They’re on 2hr commutes one way, facing a job market that asks for senior roles only or entry level jobs that barely allow for any savings. They’ve got broken phones that they’ve been using for years because it’s too expensive to get new ones. They don’t drive because they can’t afford upkeep on a car. They either catch public transport or ride bicycles and work their arses off while their employers take advantage of them by firing them when they reach 21, which is the age where employers are legally required to pay you the national minimum salary.
They’re bloody thankful when they get offered a job paying $55k/year before tax.
So, I don’t know about you but these younger people are massively screwed and we’ll be screwed as retirees because there will be more oldies than there are young in the work force.
Ok. Under young I meant < 35 yo. Anyone <21 are just kids, no one expect them to make long term financial decisions. By 35 you should set on the trade and have decent salary. My observation comes from observing “young” guys in IT. Shiny iPhones, but no though about house.
A lot of the younger generation has given up on home ownership. If they saved their ‘shiny phone’ money, it still wouldn’t put a scratch on the increasing price of buying property. The phone might not be a sound financial decision, but it’s the only joy and control some people can get.
And coming from a ‘young’ guy in IT with a 5 year old phone (that replaced his 10 year old phone when it completely carked it): it’s not the phone that’s making it hard for me to buy a house.
Shiny new iPhone i think he wrote 😉
It’s something I’ve noticed too. People buy the shiny phones, then the head phones, then the screen, the laptop, the glasses, the cloth; spending thousands of dollars in the process. Multiply that each year, as many do, and there is no savings. Nothing growing at all in their accounts. That growth long term can put a deposit on an apartment or a outer suburb house.
Smart kids get jobs in the field that give them free phones and sometimes cars. Bonus points if its a unionised position.
That’s a very big generalisation though right; just some blokes in IT with shiny phones.
And, further, even if they stopped getting new phones, that’s hardly going to equate to a 5, 10, 20% deposit on a $500k studio apartment. Maybe it’s not that they’re lazy, maybe they’ve just given up.
And with AI muscling people out of that industry, can you even blame them?
How many young people have you actually spoken to? Or is this just casual observation from Sky News? Because I know a whole bunch of younger people now that I’ve gone back to uni to switch careers after 20 years in the work force, and I can tell you that they’re absolutely struggling.
They’re on 2hr commutes one way, facing a job market that asks for senior roles only or entry level jobs that barely allow for any savings. They’ve got broken phones that they’ve been using for years because it’s too expensive to get new ones. They don’t drive because they can’t afford upkeep on a car. They either catch public transport or ride bicycles and work their arses off while their employers take advantage of them by firing them when they reach 21, which is the age where employers are legally required to pay you the national minimum salary.
They’re bloody thankful when they get offered a job paying $55k/year before tax.
So, I don’t know about you but these younger people are massively screwed and we’ll be screwed as retirees because there will be more oldies than there are young in the work force.
Ok. Under young I meant < 35 yo. Anyone <21 are just kids, no one expect them to make long term financial decisions. By 35 you should set on the trade and have decent salary. My observation comes from observing “young” guys in IT. Shiny iPhones, but no though about house.
Is “new phones” the modern “avocado toast”?
A lot of the younger generation has given up on home ownership. If they saved their ‘shiny phone’ money, it still wouldn’t put a scratch on the increasing price of buying property. The phone might not be a sound financial decision, but it’s the only joy and control some people can get.
And coming from a ‘young’ guy in IT with a 5 year old phone (that replaced his 10 year old phone when it completely carked it): it’s not the phone that’s making it hard for me to buy a house.
Shiny new iPhone i think he wrote 😉 It’s something I’ve noticed too. People buy the shiny phones, then the head phones, then the screen, the laptop, the glasses, the cloth; spending thousands of dollars in the process. Multiply that each year, as many do, and there is no savings. Nothing growing at all in their accounts. That growth long term can put a deposit on an apartment or a outer suburb house.
Smart kids get jobs in the field that give them free phones and sometimes cars. Bonus points if its a unionised position.
Dude. You’re spouting iphone line? seriously?
A new phone on a plan costs less over a year than one months rent. Get that into your head.
That’s a very big generalisation though right; just some blokes in IT with shiny phones.
And, further, even if they stopped getting new phones, that’s hardly going to equate to a 5, 10, 20% deposit on a $500k studio apartment. Maybe it’s not that they’re lazy, maybe they’ve just given up.
And with AI muscling people out of that industry, can you even blame them?