Housing costs: Young, poor pay the price for NIMBYism, says Grattan

Younger, low-income households are bearing the brunt of a housing affordability crisis, largely caused by community opposition to development.

Those are the key findings of a new 176-page report by the Grattan Institute think tank into the vexed issue of worsening housing affordability.

The report focused on the dramatic decline in home-ownership levels, particularly among younger and poorer households.

Whereas at the start of the 1980s more than 60 per cent of 25-34-year-olds owned a home across almost all income brackets, that rate has now dropped below 50 per cent for all but the highest income group.

The biggest fall has been for those in the bottom 20 per cent of household incomes, where only a fifth of those under 35 own a home, down from nearly two-thirds just a few decades ago.

The Grattan Institute’s chief executive, John Daley, said it marked a significant shift away from the long-held Australian dream of home ownership.

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