TOUGH CHOICES IN RE­AL­ITY FOR GEN YS

Southern Gazette (South Perth) - - OPINION -

GEN Ys of­ten cop a lot of flak for be­ing the pam­pered ones; the chil­dren of the age of en­ti­tle­ment. Af­ter 25 years of solid growth in Aus­tralia, many of our young peo­ple have never had to do with­out or face the harsh re­al­ity of com­pro­mise. But new re­search shows they are hav­ing to learn to make sac­ri­fices as eco­nomic re­al­ity bites. House prices have al­most dou­bled in the past 15 years, tak­ing the great Aus­tralian dream out of reach for some cou­ples. A sur­vey of more than 2000 peo­ple by ME Bank showed al­most 23 per cent of Gen Ys had de­layed their wed­ding or down­sized the cel­e­bra­tion to save for a new home. Twenty-one per cent had post­poned or skimped on their hon­ey­moon and 24 per cent de­cided to de­lay or have fewer chil­dren to com­mit to a mort­gage. I guess tough choices are a part of grow­ing up.

Rick Lee - re­gional editor

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