Thursday, April 25, 2024

Tag: Young people

1 In 2 Young People Are Being Turned Away From Accessing Crisis Housing Accomodation

In the midst of a housing and cost of living crisis young people are finding it increasingly harder to find a place to call home.

TikToks capturing hordes of people inspecting (most likely) mould speckled homes on the weekends and conversations of significant rent hikes have become fixtures of what it means to be a young person right now, and for some, things can only be spread so thin before it crumbles.

This week marks National Homelessness Week, and has prompted the NSW Government to reaffirm its plan to drive down homelessness across the state.

Young Australians staying with their parents to save for a house deposit

Young Australians live with their parents to save for a house deposit

The rising cost of living, including a lack of affordable housing, has changed the financial landscape for Australia’s youth.
According to the Young People’s Financial Strategies: Insights from the Australian Youth Barometer report from Monash University, young Australians often defined financial security as being able to afford material needs without worrying about money.

Saving and investing were listed as their main strategies for financial security, but many factors could influence that in a negative way, including paying for housing.

Interviewees said the prospect of living independently, especially paying rent, was a potential threat to their ability to save.

Zoned Out: How Land Use Restrictions Divide The Nation

Housing policies ensure continual wealth gains for current home owners while leaving renters and potential buyers locked out of the market.

Housing policy is a battle between the haves and the have-nots. The haves are the current generation of wealthy home owners. They have enjoyed large capital gains over the past few decades and are sitting on property worth hundreds of thousands – often millions – of dollars. They support the policies that have delivered these windfalls.

The have-nots are renters and future generations of potential home owners. These groups are disproportionately young and on lower incomes.

Read the full article on John Menadue’s Pearls and Irritations