Gen Y’s housing crisis
Over the past 20 years housing prices in Australia have spiked faster and for longer than they have since 1880, and the average loan size for first home buyers has grown by 20% in the last 12 months alone. The result of this means it may be for the best for gen Y members to reshuffle your goals away from buying a home, because it’ll be unlikely they’ll ever afford one. To discuss what’s causing the inflation and what the consequences are, Dr Kate Shaw, expert in housing markets, gentrification and social equity from the University of Melbourne joined The Daily to highlight this issue.
Produced by Phillip Leason