Kate has never been a high-income earner. With a BA in fine arts, she was employed by galleries, but had to take on extra shifts in hospitality to get by.
"But that was when renting was a viable option for people on low incomes, and it no longer is in this country." "If I had started saving in my 20s and maybe bought a house in my mid-30s, I would have missed the housing crisis. I'd be alright now," she said.Dr Kathleen Flanagan, a housing expert from the University of Tasmania, said many Australians now found saving for a home while renting unaffordable.
Source: News Formal (newsformal.com)
An independent industry needs to run the rental industry in Australia. It’s absurd that an area that requires massive duty of care is run by greedy selfish Real Estate Agents all they care about is selling and money. With so many people renting now this change is vital.
Aww - poor Gen Y'er. It seems that bad life choices made during one of the most prosperous times in Australia's history are the landlord's fault.
Not enough and not the right sort of financial literacy is the problem, we should teach students that and then let them decide what they do with the knowledge, but we own them nothing if they are hedonists and blow their chances then regret it later.
Look no further than the FamilyCourt as the reason why there are so many people renting.
It’s easy to have a go at investors but they are the people putting a roof over your head. They are the people who have to deal with crappy tenants who damage properties or stop paying rent! Without these investors you would be on the street.
Maybe Kate should have made better life decisions. Starting with a fine arts degree. What were you thinking. Should have become an engineer or architect. Kate enjoyed an easier life while others were banging away at their mortgages. No sympathy here!
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