Young professionals are giving up on the great Australian dream, resigned to lives of perpetual renting
and “maybe better holidays” in the face of unattainable housing.
Lucy Stevens is 24 and in a very different position than she thought she would be at this stage of her career.
The design graduate earns about $25/hr in her job as a junior designer, she knows she could earn more and maybe get a little closer to entering the property market, but like many young people like her, she’s chosen to focus on her career.
“I think maybe 20 years ago, with out parents, it was the Australian dream, but our generation is different, it’s just keeping up with work and furthering your career and, eventually getting yourself into the best financial position possible,” she says.
With about a third of her income going towards rent on her inner Sydney share house, where the median house price sits at around $1.2 million, Lucy says like most of her friends in a similar position, she can’t see herself entering the property market and has decided it’s just not worth it.
“I think we’ve already been priced out,” she says.
“I’d had that dream before but when I see the lengths people have to go to to save, it’s just unattainable.
“I don’t think it would be worth it or that it would be fair on myself to put everything into a tiny place. I think travel is a higher priority, I’ve never owned a car worth more than $2000, I just can’t see owning a house being worth it.”- Courtesy News.com.au?