The ABC is now telling us that hitting your 40th birthday before you can afford a starter-home is just a changing profile rather than a national disgrace.
They quote ANZ suits praising 40-year-olds for having higher-paying jobs, yeah, no kidding, they’ve had two decades of career growth just to pay for a fibro shack that their parents bought on a single clerk's salary or blue collar job.
It’s high-tier gaslighting, the ABC mentions the "First Home Guarantee" as a win, while the same article’s data shows it’s actually pumping the price of cheap houses by 3.6% in a single quarter.
They quote Saul Eslake saying the only solution is for Boomers to 'get altruistic' or sick of their 35-year-old kids living in the basement.
Enjoy your 'Million Dollar' entry-ticket at age 42, while you pay a $694k debt sentence to a bank that’s currently recording its highest investor activity since 2021. It’s not an 'aging dream', it’s a biological clock being held hostage by the RBA.
Source: barseico
7 Comments
It’s a real shame that the royal commission into the banking industry didn’t happen, I bet they were sweating bullets at the time.
A 2 bedroom flat with a courtyard in any direction 40 kilometres from Melbourne is now 1/2 million dollars.
The.repayments also don’t include body corp ($3.5K to 6K per annum) nor.council.rates of $2K per year.
Huge impost just to start out/entry level for most people.
A number next to either the libs or the alternative liberal party has caused this.
So millennial caravan retirement village parks are gonna be a pretty good business… I know I’ll be there…
RBA, robbing blind Australians.
What I find strange is we know what the cities and suburbs will look like if we continue down this path. We know the economic and demographic disasters that it leads to.Â
I think our politicians are being intentionally thick.
I bought a brand new 4 bed two bath in Canberra, 20 mins from the CBD for 680k in the mid 2000s . 10 years later I bought a 1997 build 3 bed town house in a similar area for $$480k. Now in 2025 I’ve bought a 1960s build 4 bed 2 bath in Sydney for 1.4 million. This shit is wild