Some estimates say up to one in seven people are living in poverty, but Australia doesn’t properly measure it. Here’s how we could.
- Ronald Henderson Senior Research Fellow, The University of Melbourne
Between 2002 and 2018, some groups actually increased their wealth on certain measures. For young people and middle Australians, however, it’s a more sobering picture.
People over 65 who still have a mortgage or are renting are projected to double in number by 2031. The trend is likely to hit government budgets and leave more retirees in poverty.
Until now most people have eventually owned a home. But two trends – falling ownership and a growing aged population – will put the budgets of retirees and government under real pressure.
Research finds higher levels of housing debt among pre-retirees are linked to them working for longer.
Those whose parents own a home are able to take advantage of a wider set of opportunities than others.
Financial stress is more likely to cause Australians to drop out of home ownership. Why?
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