[PODCAST] Homeownership Dreams on Hold: What’s Really Stopping Younger Generations? With Simon Kuestenmacher

Today Simon Kuestenmacher and I explore why young Australians are increasingly delaying their dreams of homeownership. 

We've all heard about skyrocketing property prices and the challenges of securing a mortgage but, as you’ll hear, there's more to the story than just affordability.  

Sure, property prices present a significant barrier, but we also examine lifestyle changes, such as extended periods in education and the prioritisation of experiences over material possessions, reshaping the housing market landscape.  

We also discuss some very important demographic shifts, including the transition of millennials from urban rentals to suburban family homes, and highlight the rise of build-to-rent and co-living spaces. 

Takeaways 

• Younger generations face higher financial hurdles to homeownership. 

• Homeownership rates among millennials are significantly lower than previous generations. 

• Lifestyle changes, such as prioritising experiences, contribute to delayed homeownership. 

• Young people are staying in education longer, delaying family formation and homeownership. 

• Career mobility and geographic flexibility influence housing decisions.

• The demand for family-sized homes is increasing as millennials start families later. 

• Co-living arrangements are becoming popular among young professionals. 

• Government policies often exacerbate the affordability crisis in housing. 

• Homeownership is crucial for financial security in retirement. 

• There is a need for more state-owned housing developments to address supply shortages. 

Links and Resources: 

Michael Yardney  

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