Not sure I agree with the title that no one can ”escape” it. I think the wealth hoarding class does very nicely out of everyone else’s misery. Perhaps if things don’t turn around their grand children might go from owning the whole country to facing a guillotine.
More likely once there is a large enough percentage of people who will have no hope of owning, then they will start to have an effect at the polling booth.
This is the best summary I could come up with:
Experts have published numerous reports on this topic in recent years for the Australian Housing and Urban Research Institute (AHURI).
They’ve explained how that change in policy has led to a situation in which it’s become increasingly unrealistic for younger Australians to be able to buy a home by simply working hard.
They say a huge number of problems younger people face can be traced back to the 1980s and 1990s, when major reforms to Australia’s labour market regulations and wage-setting institutions, initiated by the Hawke-Keating Labor governments, contributed to the disappearance of the “norm” of full-time secure work.
“We know that in 2010 around about 12 per cent of people [who were] first home buyers were getting assistance from the bank of mum and dad,” University of Newcastle youth sociologist Julia Cook told ABC RN’s The Money podcast last month.
Other researchers have noted that, for people who have managed to get into home ownership, larger mortgage debts are causing an increasing number of older workers to delay their retirement.
“This is comfortably the largest share of the population citing these problems since the question was first asked in 2011,” lead researcher Dr James O’Donnell, from ANU, said.
The original article contains 1,091 words, the summary contains 199 words. Saved 82%. I’m a bot and I’m open source!
Stop leaving out important bits ffs