Owning a home in a suburb close to the city with good public transport? I don’t know how you define wealthy but that is a dream out of reach for most young people.
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It should be enough to get them into a decent retirement home. And when they cark it, the buy in price will go to the beneficiaries in the will. Perhaps they should do the decent thing and cark it sooner.
the generation that got free education are the ones implementing policy that lead to hecs indexing at 7%.
boomers should can it.
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Why not just bring in soylent green.
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Some mind-numbingly stupid takes in here.
My grandparents bought a house on one income.
I’m not sure how old they were, but not very.
My parents bought a house in their early twenties on one income.
I bought a house in my early twenties on two incomes.
My daughter is in her early twenties and can’t afford rent.
The very idea of her even considering buying a house is so out of her reach that it’s…appalling.
It’s the boomer entitlement for me.
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My father worked three jobs to get the deposit for a mortgage and worked two jobs for a long time after that. He always brought work home as well. One of his biggest regrets was not spending enough time with his family,
Lowe is not the best communicator, but what he said about extra work and cut backs on discretionary expenditure was directed to those WITH a mortgage ( and likely a two income family)
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That might be the biggest understatement ever written on Blitz…
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“Work ethic” is such a subjective term. Things like WFH, taking sick/annual leave and only working to the terms specified in your contract have been derided by many as a lack of work ethic. Typically from older generations, but there’s no shortage of younger folk happy to criticize the lack of work ethic of their generation.
Whatever narrative one subscribes to, the raw data says people are working longer for fewer benefits and as a result their material conditions and mental health suffer.
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is work ethic being in your 50s and not learning how to do your job properly after 5 years?
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But is RBA raising the interest rates the cause of people being unable to buy a house or the cost of renting?
trying to understand how boomers had this mythical work ethic that just reads as pure dumb luck
the only business owners that really succeed are those that understand that their employees will never, ever be as emotionally invested in their business as they are
and younger employees also understand this more than their predecessors did
those that don’t understand are consigned to just whining about “work ethic” until they either get it or… well retire i guess
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“Nobody wants to work anymore!”
I’m Gen X and lazy as they come, fark working, I’m gonna retire soon. We are all lucky to be in a time period with no war that we have to go and fight, the right to object, and proper freedom. We’re all better off than old boomers and their parents and waaaay better off than their subsistence farming predecessors.
I acknowledge that the current young generations have challenges that we didn’t have but they also have magnificent technology that we didn’t. Go forth and use it to your advantage. Make the world your own.
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Getting back to politics and the really big issue consuming the journos in the Canberra bubble, whether Wong and Gallagher misled the Parliament about their contacts with Brittany Higgins at a certain time when they were in Opposition .
This goes back to Reynolds in Government, claiming that an ALP Senator told her to that effect and that they were going to politicise it. It transpires that the Senator who allegedly tipped her off was Kimberly Kitching, who died a couple of months before the 2022 election.
NACC will sort it out, but whatever the facts, it shouldn’t have any bearing whether the settlement with Higgins was in line with Finance Dept procedures.
Coming from the print documents era, IT was wonderful for research on anything digitised around the world. But for one so easily distracted, it had its downside on productivity. When something would pop up in a search that had nothing to do with the topic , but looked more interesting , I would chase that down. Like following through the history of The Anarchists 1901 Conference in Amsterdam , which popped up in a search and which had at best tangential connection to the research topic.
The comments in here, directed at younger generations…are basically the same as this legendary statement:
Personally, I think the following will be more accurate: “You’ll own nothing. And be anxious due to your precarious situation.”
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To be precise Gallagher said in a Senate hearing……“No-one had any knowledge. How dare you!’ ……this was in response to a suggestion from Reynolds that Gallagher knew about the BH allegations weeks ahead of BH going public (Reynolds said she’d been tipped off by KK).
The text messages between BH and her boyfriend DS published the last few days clearly show Gallagher did know of the allegations in advance of BH going public (therefore the suggestion in the press that Gallagher misled parliament). Moreover the texts and ‘wargaming’ seem to show that KK was right and senior Labor MPs weaponised the BH allegations for political purposes. It appears this was done to try and embarrass the government and to build a narrative of a “women problem” for the Coalition. My guess is there is a lot more to play out here. I expect the journos will drip feed a series of texts over the next week.
If KK was right (and these texts are accurate/real) we have a PM and senior ministers that used a rape allegation for political gain - I wonder if any of this will make it onto the 730 Report or Four Corners - we will wait and see
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Bacchus, Bacchus, Bacchus. Mate I am generally on your side, but this is out of order. I work in the Real Estate sector, and my clients have zero desire to “pay” over the odds for housing. They are being railroaded into it. No choice whatsoever. And if they say, “hey, lets rent and save for a deposit”- nup. Rents are at all time highs, with vacancy rates at generational lows. Not a good mix. The facts are, that what you could afford to pay for a nice starter home even 5-10 years ago may now buy you a 2 bed condo. The common thread is the rise of the “investment property” In Australia, its the negative gearing pushing up the prices to an extent. Over here on the West Coast of Canada, its the rapid rise in realestate values in the period from 2015-18 that created a slew of paper millionaires. Who then dipped back into their new found wealth to buy and investment property. Add to the mix foreign speculation, and you have a “perfect” storm. Whereas the lower priced homes, ( targets for investors) are snapped up, leveraged for rentals at as much as can be borne by the market- and at the same time reducing the affordable housing stock. So prices are forced up. When we see properties in the equivalent of Broadmeadows going for 1-200k over asking in multiple offers, you know the system is broken. Oh, and then to rub salt into the wound, the respective “reserve” banks pump up rates even further to make it harder again to gain a foothold. This has little to do with the current generation “wanting” to pay over the odds for housing.
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Moving back to Victoria from Canberra, I was struck by the post code snobbery of Melbourne, where a crap house in the right postcode with poor PT and few amenities could command such a high price over a far better house in the next postcode with better PT and more amenities within walking distance.
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