‘The biggest divide in Australia is the intergenerational divide’
Amid the cost-of-living crisis and struggles to get on to the property ladder, it’s getting harder to be young and rich these days.
Even if the affordability crisis was resolved, the challenges of paying for Australia’s ageing population and the transition to net zero would remain. So, we need to grow the productivity pie. Paolo Lim
“Let’s get together so we can double our income and buy a house.” Tongue-in-cheek and mildly depressing, this is what passes for flirtation in Australia in 2024.
It’s a pick-up line that Geeta Chand, a 30-year-old operations assistant, has encountered a few times when she’s drifted onto dating app Hinge. She laughs, but she gets it; she’s also trying to buy a house. How’s it going? After nearly five years of saving to build a $200,000 deposit, and having looked into about 200 properties in Sydney and across NSW, it’s not going well.
Lucy DeanWealth reporterLucy Dean writes about wealth management, personal finance, lifestyle and leisure, based in The Australian Financial Review's Sydney newsroom. Connect with Lucy on Twitter. Email Lucy at l.dean@afr.com
