TOUGH CHOICES IN REALITY FOR GEN YS
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