Australian Home Ownership Rate for Ages 25 to 34 Falls to 80-Year Low

Anglicare Australia's Falling Behind report says the home ownership rate among 25-to-34-year-olds has dropped below 40%, returning to levels last seen in the 1940s. It also finds today's young adults earn less than the previous generation did at the same age, carry more debt and face less secure housing. None of 48,776 rental listings examined was affordable to a person receiving Youth Allowance, and younger people were more than twice as likely as over-65s to experience serious psychological distress. The organization urged higher income-support payments and policies that give younger Australians a more secure path to housing and wealth.