‘Easiest it’s ever been’: Tradie’s brutal advice to young Australians

As Gen Z increasingly grapple with whether they’ll ever achieve the ‘Australian Dream’, one man claims it’s the “easiest it’s ever been” to buy a home.

As Gen Z increasingly grapple with whether they’ll ever achieve the ‘Australian Dream’, a former tradie turned property adviser has issued some tough advice – declaring it’s the “easiest it’s ever been” to buy a home.

Figures released by the Australian Housing and Urban Research Institute in September 2023 showed home ownership rates were falling among people between the ages of 25 and 34. A Macquarie University study last August found young adults are delaying or even forgoing the idea of owning a home.

Yet on Tuesday’s episode of SBS’s Insight, one audience member, 28-year-old Jack Henderson, argued that the reason young Australians are struggling to enter the property ladder is not because median house prices have doubled in the past decade, but because they “want everything now”.

Mr Henderson bought his first home – a two-bedroom apartment in Coogee – three years after he was kicked out of school. The then-18-year-old lived at home at the time, saving his construction labourer pay cheques to purchase the property for $720,000. In the 10 years since, he’s built a real estate portfolio worth more than $35 million.

Jack Henderson bought his first home – a two-bedroom apartment in Coogee – three years after he was kicked out of school. Picture: SBS Insight

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On Insight, Mr Henderson dismissed claims it’s harder than ever for Australians to buy a house.

“I think it’s the easiest it’s ever been with all the incentives that are out there for first time buyers in many states,” he said, to the visible frustration of other audience members.

“You need a five per cent deposit, you pay no lender’s mortgage insurance, you pay no stamp duty. The only thing easier than that would be giving you a home for free.”

In the 10 years since, he’s built a real estate portfolio worth more than $35 million. Picture: Facebook/Jack Henderson

'I think it’s the easiest it’s ever been with all the incentives that are out there for first time buyers in many states.' Picture: Facebook/Jack Henderson

Responding to Mr Henderson’s comments, fellow audience member, leading economist Evan Lucas, said the opposite was true.

“At no point in history have you had to work harder to get that five per cent deposit to actually get to a point that you can then buy a home,” he said.

“The other thing that you need to talk about with that answer as well is where are you buying this house?

“Because the other thing that has happened over the last 30 years – compound interest is a beautiful thing, but it can also be a double-edged sword, in that housing price compound interest now has, for most people, blown out for the places that they would want to buy in the areas that they can work, to therefore keep servicing the mortgage that they want to have, has never been higher.

“The other difference is those that have assets versus those that don’t has also never been larger.”

Insight host Kumi Taguchi. Picture: SBS Insight

Audience members were … not impressed by Mr Henderson's remarks. Picture: SBS Insight

Midwife Erin Bonett, who also appeared on Tuesday night’s episode, moved from Sydney to Queensland in a bid to achieve the ‘Australian Dream’ – a decision that has come with a significant sacrifice.

Speaking to news.com.au, Ms Bonett revealed most of her family lives on the NSW Central Coast, more than 2000km away from where she is now residing.

“I feel like I’m having to leave them behind to go and do what I need to do,” she said.

“I came up here by myself, so I feel like I’m just starting again. I’ve definitely left behind a lot of people that I love.”

'I think everyone can do their bit to try and earn more money and cut what they spend. But to say that there’s a cost of living crisis I think is a little bit over the top.' Picture: Facebook/Jack Henderson

Elsewhere during the program, Mr Henderson said that rather than a cost of living crisis, Australia is in the midst of a “cost of spending crisis”.

“It’s very easy to spend money with everything at our fingertips, everything’s on our phone,” he said, to the visible frustration of other audience members.

“We want the newest of everything. We want our cake and we want to eat it too.

“I think everyone can do their bit to try and earn more money and cut what they spend.

“But to say that there’s a cost of living crisis I think is a little bit over the top.”

“What would you call it? Lifestyle?” Insight host Kumi Taguchi asked.

“I think it’s life,” he agreed.

“We got used to two per cent interest rates and we got used to everything being much more affordable than what it was.

“You’ve only got to drive down a freeway and look at 90 per cent of the cars on the road and see they’re all new model cars. I’m sure most people in the audience would open their phones up and it’s a brand new phone or one of the newest phones.

“Those things aren’t cheap and they’re not free.”

Asked by Taguchi why he thought Australians were struggling, Mr Henderson acknowledged that “people struggle in all economies (but) people who keep up with the world will make more money than they ever have, and they’ll probably work less than they ever have”.

Originally published as ‘Easiest it’s ever been’: Tradie’s brutal advice to young Australians