At the time, baby boomers were three times more likely to own a home

The Parašchuk government is discussing strategies to give young people a greater say in their futures as census data reveal the extent of the generation gap in home ownership.

Data released by the Australian Bureau of Statistics on Thursday showed that home ownership rates among people in their 20s and 30s are declining by generation.

Millennials are one-third as likely as Baby Boomers to own or mortgage a home at the same age.credit:Tony Moore

In 1991, baby boomers aged 25 to 39 at the time were three times more likely to own a home outright in 2021 than millennials aged 25 to 39 at the time.

Millennials, Generation X and Baby Boomers have similar participation in the workforce, with more women now in the workforce, but ABS notes that millennials are the “most eligible generation” and more We discovered that percentages also have qualifications outside of school.

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“At every dinner table in Australia, I hear someone looking back ‘back in my day’ and how things were different,” said the general manager of Census and Data Collection at ABS. Duncan Young said.

When the Queensland government convened a housing summit on Thursday, it also launched consultations on a new youth strategy to help address concerns raised by young people in response to access and affordability issues.

Focusing on Generation Z, the government has acknowledged in a consultation document that people of that age make up over 20% of Queensland’s homeless population.

The government also said young people are finding it “difficult to find affordable housing,” and that through “long-term, quality jobs” and “access to safe and secure rentals,” they are getting “basic and affordable housing.” He admitted that he wants to have “enough money for housing”.

https://www.brisbanetimes.com.au/national/queensland/in-their-day-baby-boomers-were-three-times-more-likely-to-own-a-home-20221020-p5brdg.html?ref=rss&utm_medium=rss&utm_source=rss_national At the time, baby boomers were three times more likely to own a home

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