A baby boomer has divided Australians after claiming millennials and Generation Z “don’t make the sacrifices” needed to own their own home.
The woman, who said she worked two jobs to save for a deposit, gave the blunt advice while being interviewed by property investment company Coposit.
During the interview, which was uploaded to social media, the woman was asked what she thought about younger Australians trying to get into the property market.
“They don’t make sacrifices,” he said.
‘When I was younger, I never had brunch or went out to party and now what they wanted to do is ‘I’m going to party.’
The woman, who said her father helped her enter the real estate market by acting as a guarantor, acknowledged that owning a home is currently “difficult.”
“I feel sorry for the young generation now because they are thinking why bother because (owning a house) is too expensive,” he said.
Despite the challenges, he suggested some simple lifestyle changes younger Australians can make to save money.
A homeowner (pictured) has given some strong advice to young Australians if they want to afford a home of their own and urged them to make sacrifices to get into the property market.
“You can start small, a lot of people buy places that are too big, but you have to make sacrifices,” he said.
‘I bring my own lunch to work. If you want a place of your own, start small. Work two jobs, work a lot. Don’t go out as much as you want.’
The clip attracted dozens of comments, with many younger Australians angered by his advice.
‘Oh, bless her. I have no real idea that things have changed. Working hard and giving up coffee isn’t enough anymore,” one person wrote.
“We have turned our cars into taxis and our spare rooms into hotels to try to afford the same thing as them, a single income,” another person wrote.
“Infuriating,” chimed in a third.
Others agreed with the woman’s comments.
“You’re not really wrong, but people heard that first line and (started) writing,” one person wrote.
Some young homeowners said that although they achieved their dream of buying their own property, the task is out of reach for many their own age.
“I’m a millennial who was lucky to break into the market in 2017. I can’t imagine trying to save a deposit of between $60,000 and $100,000 now – I sacrificed everything to get where I am,” one person wrote.
The latest figures from property website PropTrack show the median house price in Australia is currently $860,000.
Baby boomers, millennials and Generation Z said, should consider working two jobs and partying less if they want a chance to buy their own property.
Sydney remains the most expensive capital to buy a house: the average house price in the port city is worth $1,429,000.
Recent figures from Domain revealed the staggering amount Australians need to save to afford a 20 per cent deposit.
Aspiring homeowners need to save $332,000, while those living in Melbourne and Brisbane need $213,761 and $195,293.
First home owners have also been struggling with successive interest increases after the Reserve Bank raised rates 13 times since May 2022. The cash rate is currently 4.35 per cent.
Australia has also struggled to control inflation that has left families reeling from the high cost of living.
The inflation rate finally fell within the Reserve Bank’s two or three per cent for the first time in three years thanks to $300 energy rebates.
The consumer price index – or headline inflation – fell to 2.7 percent in August, a sharp drop from 3.5 percent in July.
