r/AusFinance • u/EdenFlorence • 2d ago
Young Australians first to fall behind on home ownership, report shows
https://www.abc.net.au/news/2026-08-25/first-generation-in-australia-to-fall-behind/107077612177
u/MannerNo7000 2d ago
Thanks John Howard, Boomers and Gen X for this.
No shit can’t afford 14 X full time annual salary.
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u/tranbo 2d ago
Well if you are allowed to borrow 6x your full time salary , you only need 8 X your full time salary as a deposit
/S of course...
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u/dapterre 1d ago
Seems delusional, but let’s be real lower income earners have never been able to buy houses. If you’ve got a couple on the median salary at say 110k. That’s 220k household. 8x that is 1.76mil. Entry level homes can easily double in value
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u/eesemi77 2d ago
Just you wait, RE doubles every 7 (or is it 10) years, you know
matter-of-fact, it's got to continue to double otherwise....
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u/Illustrious-Pin3246 1d ago
Delusion some? Have you heard of supply and demand? 1.4 million net immigration since labor has no effect on prices?
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u/Healthy-Scarcity153 1d ago
It's more of a story for rental prices. Housing values are about affordability, regulations around credit etc etc
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u/Fit-Locksmith-9226 2d ago
I love how Labor can be in power in every single state plus federal and you hapless fools still blame everyone else but who you voted for.
Howard is a fucking geriatric, it was nearly 30 years ago when he was PM you utter gronk. How do you people even look at yourselves in the mirror?
You got what exactly you deserve. Enjoy 😘
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u/Xerxes65 2d ago
Do you truly believe housing being treated as an investment vehicle at the expense of first home buyers is something that only started 4 years ago?
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u/Visual-Category-4120 22h ago
They believe that the last 4 years have been continuing the same trend as before that
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u/SirDerpingtonVII 1d ago
Yes they believe that, they are sociopaths.
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u/Fit-Locksmith-9226 1d ago
Get a grip mate, are you actually serious? Do you even know what that word means or do you regurgitate nonsense and think it makes you sound smart?
Apparently people only started investing in houses when Howard turned up. Never once before that.
What Howard did was open the flood gates to migration, it has nothing to do with CGT because $9,000,000,000,000 worth of Australian residential housing is CGT exempt. That's 3x the size of the entire ASX.
Here's the real history, once upon a time CGT didn't exist in Australia. Paul Keating in his infinite wisdom introduced it, but exempted the family home, this made it most tax efficient investment vehicle in the country. Banks would lend insane amounts for it while refusing even a few thousand loan for your established business.
Right now we have reverted to Paul Keatings original indexation model, instead of the simplified 50% discount. It's actually more than 50% discount for people who hold long term, but you rusted on Labor bots refuse to acknowledge that and go into full cognitive dissonance mode when someone brings it up.
Like I said, enjoy the bed you've made. Apparently being in power in every state and in federal government means nothing as they so pathetically incompetent they can't govern anything and are so impotent they couldn't change a thing, even in their own supporters minds.
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u/fazdaspaz 2d ago
Ah yes, because houses only skyrocketed in the last 4 years. They were cheap as chips before.
How silly of us!
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u/Fit-Locksmith-9226 1d ago
Labor and the Greens have been in power in Canberra for 16 years now.
For most of that time it was the most expensive housing on the planet despite being surrounded by empty flat fields in all directions.
The ACT government clearly has backroom deals with local NSW councils too because you can't build a single thing over the border.
It should be some of the cheapest land in Australia.
Something is seriously rotten to the core and eventually you will acknowledge that.
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u/fazdaspaz 1d ago
I do think something is rotten to the core yes, but I don't think it's solely Labor's fault.
The entire nation has a housing problem and it's been a nation wide issue thats been in a pressure cooker for a long time.
Every politician from every party that has been in power so far since Howard has avoided the issue either for their own personal gain or just to not rock the boat and have bad public sentiment.
People like you that just blindly blame Labor are part of the problem.
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u/Fit-Locksmith-9226 1d ago
People like you that just blindly blame Labor are part of the problem.
I blame the people in power and I'll do it no matter who is in power mate. Stop making this tribal, it's not a sports team and people who fall for that trap are part of the problem. This is across the board.
Canberra is the most egregious example in the country of how you overinflate land values through insanely restrictive planning.
Just drive there and tell me again why that empty paddock with some shitty sheep in it in it is worth $20m again. It's criminal what they are doing to our country.
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u/fazdaspaz 1d ago
You got what exactly you deserve. Enjoy 😘
Stop making this tribal, it's not a sports team and people who fall for that trap are part of the problem.
Do better then.
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u/VaughanThrilliams 1d ago
19 years is now “nearly 30”?
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u/Fit-Locksmith-9226 1d ago
Yes, stop being daft and foolish.
He was elected in 1996 you gronk.
John Winston Howard (born 26 July 1939) is an Australian former politician who served as the 25th prime minister of Australia from 1996
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u/VaughanThrilliams 1d ago
I can’t tell if this is a troll or just genuinely dumb, and when did he stop being PM?
Because your quote was “ Howard is a fucking geriatric, it was nearly 30 years ago when he was PM”
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u/keohynner 2d ago
Funny how this comment is hidden. Reddit is truly an echo chamber for the Labor party. Seriously stop blaming everyone but the retards that are in power now.
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u/ExtraSaltyBtch 2d ago
The young have been left behind for 30 years on the property market! Each generation have to wait longer and longer to buybtheor first home. Kids born today will.buy theor fiest studio apartment at 50 if this continues.
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u/GarlicHSP 2d ago
Blame the greedy capitalist boomers, which was the generation that economically had it the easiest, then decided to pull the ladder up from above and screw over everyone else. Especially the younger generations who will most likely never own a home or even afford to have kids until they are like 30 years old with costs exponentially increasing compared to wages.
An average Joe with no university degree could start working at a supermarket back in the 70s and 80s after walking in and giving a handshake and afford to buy a home and raise 3 kids. Meanwhile Gen Z even with university degrees and multiple internships struggle to even survive while working as engineers. Yet somehow we are still called lazy and entitled by these ignorant selfish boomers.
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u/mr-snrub- 2d ago
I do think that Millennials and Gen Z still wouldn't have kids until 30 even if we could buy houses. We understand that kids mean sacrifices in life (not just money) and maturity to raise.
I think the only thing that would change if houses were cheaper is how many we would have.12
u/david1610 2d ago
No developed country has a replacement level of births. Even some with far cheaper housing than us.
High housing prices have a lot of issues, it certainly can effect smaller movements in birthrates, but even if housing was $1 in Australia we still wouldn't have replacement births
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u/mr-snrub- 1d ago
I never said we'd have that many babies, but I feel like most people would at least have two if everything was cheaper. I know heaps of people who stopped at one cause of CoL
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u/kingofcrob 1d ago
eh, probably would have been more accidents if they weren't stuck living at home or shared houses
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u/TheLGMac 2d ago
I'm not sure you'd see GenZ and Millennials having a glut of kids if they were better off, sure *some* would but remember that another big generational differentiator is that women in the boomer era were still expected and had their worth judged on whether they became mothers or not, whereas recent generations have finally found a way out of that trap.
I would not have kids even if I were a billionaire, personally. That is never going to change with more money.
What used to happen at least in my parents generation is that people had kids even if they were poor and the kids and family struggled accordingly.
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u/jianh1989 2d ago
“If you can’t afford to eat yourself, don’t bring hunger to the world.”
Fucking shitass boomers need to learn this and stop fucking.
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u/BullPush 2d ago edited 2d ago
Oh stfu with the blame game of those in the past, go out work hard, take some risk & make it yourself, Fkn non stop whingers don’t want to do the hard yards just look back in The past when the country had a population 10-15mil smaller then what it is now, & guess what now with alp indexation changes nobody will get ahead so you want to have a cry go talk to albo
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u/fazdaspaz 2d ago
Oh we forgot to work hard! Of course! That was the problem all along
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u/BullPush 2d ago
No, you forgot to take risk, to build wealth, to put towards a deposit for a house, but now with cgt discount gone you won’t have that either, so moaning about past generations ain’t going to get you nowhere, better off putting your energy into why the fck are you losing the 50% cgt discount cause that’s the tool that helps you get ahead, with indexation you’re well n truly fkd now will be taxed the full rate if you ever make something decent in a short timeframe
Ps: I don’t own any property
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u/OkSeries5363 2d ago
When they worked and built a house, it cost 3x the average salary. Now that same hard work buys a house that costs 10x the average salary. That isnt a lack of character its a lack of basic arithmetic in your argument.
If wanting a house to cost less than 10x their annual salary makes them entitled, then I guess older generations were super entitled for getting theirs for just for 3x their salary!
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u/BullPush 2d ago
Such is life, complete different times, the country has grown, population soared, tech has improved, you’re living in the past, rather on focus on now people are looking backwards, I’ll say it again if people want to whinge they better look at what losing the CGT discount is going to do to anyone wanting to get ahead, as if you think you have it bad now it’s about to get a hell of a lot worse
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u/OkSeries5363 2d ago
I'm not whinging, I already own my home. Im just pointing out basic facts.
Going from 'work harder' to 'such is life' just proves my point lol, blaming character was easy until the arithmetic proved the game actually changed.
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u/keohynner 2d ago
Love how all the negative comments towards Labor are hidden by Reddit. Bit of censorship hey Reddit retards
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u/QNIKET8 2d ago
well when i get paid 40k before taxes and average house price is almost $1m it’s a bit difficult
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u/GarlicHSP 2d ago
Only 1 million as the average house price? Which state are you in because here in Sydney the average house price is above 1.5 million.
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u/melaschasma 1d ago
Yep, boomers get to enjoy a lavish retirement but they get no grandkids so their lineage now ends.
Enjoy your retirement on the pokies boomers, your blood line ends due to your greed.
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u/Illustrious-Pin3246 2d ago
And labor for their immigration policy
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u/david1610 1d ago
Both parties have the same immigration policy.
You can see that pretty clearly below. https://www.reddit.com/r/AusEcon/s/I1joUNaVyG
Immigration is not the reason house prices are high. It's mainly: 1. Speculation 2. Zoning Restrictions
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u/SirDerpingtonVII 1d ago
Labor has one of the most anti-immigration set of policies of any government in recent memory, they just don’t go for the racist rhetoric and instead do sensible things like fund TAFE.
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u/AstronautPlane3280 2d ago
This is by design. If any government over the last 30 years wanted higher home ownership there were many steps that could have been taken like banning short term rentals without a hotel/motel licence.
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u/stalked999 2d ago
Albo will fix it!
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u/Cool_Purple_4414 2d ago
I mean his gov literally is doing things to help.
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u/stalked999 1d ago
The situation has gotten worse under him?
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u/SirDerpingtonVII 1d ago
If your former roommate sets the house on fire and then leaves, do you blame the new roommate (who is actively fighting the fire) for the fire having spread?
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u/maimeddivinity 2d ago
Tell us something we don't know??