Australia’s housing crisis is, like, so unfair

“BACK in my day” ... as soon as I hear those words it makes me want to shout. It’s no longer your day, old timer.

Many people have exactly the same reaction: old people’s experiences are no longer valid in today’s age. The previous generations don’t understand what the new generation thinks. Life’s pressures are dif- ferent these days. So, with full knowledge of the rolled eyes and the impatient sighs heading my way, this column is all about back in my day.

It has been prompted by a column I recently read that was an attempt by a member of the Millennial generation to explain why it’s harder for her to buy a house than it has been for any other generation.

Her perceived hardships (Australia’s unbroken economic growth, education for all) were hugely more difficult than those after the first and second world wars; far greater than the 1930s Great Depression; and far more debilitating than the 1980s financial crash and global financial crisis. But, hey, her reality. Right? So let’s look at how she is tackling this never-before-experienced hardship. “Sacrific- ing a few luxuries” — good start! But saving for a home deposit usually requires sacrificing all luxuries, not just a few.

Holidays. Nope, she’s not prepared to sacrifice holidays. In fact, “the notion that they should be forgone for housing deposits is saddening”.

But it gets worse. We’re not talking about a week camping by the seaside. “Overseas travel for young people is a rite of passage. Its value is greater than the cost in what it brings in increased confidence, sense of self and openness to the world.”

OMG, it’s hard to keep a straight face. All those people who saved for a house deposit did so knowing they were sacrificing those experiences.

Millennials didn’t invent personal growth. It took house buyers decades, or even their whole lives, to eventually afford to travel overseas because their priority was a house deposit. But hey, her reality.

And, of course, there were many more gems, such as: “We are frustrated being told that we should just work harder and spend less.” Or maybe my personal favourite: “We are frustrated living with our parents.”

Oh what fresh hell is this?