{"id":190581,"date":"2025-08-15T17:30:20","date_gmt":"2025-08-15T07:30:20","guid":{"rendered":"https:\/\/propertyupdate.com.au\/?p=190581"},"modified":"2025-08-11T08:55:03","modified_gmt":"2025-08-10T22:55:03","slug":"will-young-australians-be-better-off-than-their-parents-delay-decline-or-just-different","status":"publish","type":"post","link":"https:\/\/propertyupdate.com.au\/will-young-australians-be-better-off-than-their-parents-delay-decline-or-just-different\/","title":{"rendered":"Will Young Australians Be Better Off Than Their Parents? Delay, Decline or Just Different?"},"content":{"rendered":"<p>For much of the 20th century, there was a widely accepted social contract: each generation would be better off than the one before it.<\/p>\n<p>Parents worked hard so their kids could go further, financially, socially, and personally.<\/p>\n<p>And for decades, that deal held true.<\/p>\n<p>But today\u2019s younger Australians, particularly Millennials and Gen Z, are wondering if that contract has been quietly ripped up.<\/p>\n<p>It\u2019s no longer guaranteed that your kids will own a home sooner, retire earlier, or accumulate more wealth than you did.<\/p>\n<p>So are they worse off? Or just walking a different path?<\/p>\n<p>Let\u2019s discuss what\u2019s really going on.<\/p>\n<div class=\"lyte-wrapper\" title=\"Will Young Australians Be Better Off Than Their Parents? Delay, Decline or Just Different?\" style=\"width:640px;max-width:100%;margin:5px auto;\"><div class=\"lyMe\" id=\"WYL_X299VBj-d0U\" itemprop=\"video\" itemscope itemtype=\"https:\/\/schema.org\/VideoObject\"><div><meta itemprop=\"thumbnailUrl\" content=\"https:\/\/i.ytimg.com\/vi\/X299VBj-d0U\/hqdefault.jpg\" \/><meta itemprop=\"embedURL\" content=\"https:\/\/www.youtube.com\/embed\/X299VBj-d0U\" \/><meta itemprop=\"duration\" content=\"PT28M52S\" \/><meta itemprop=\"uploadDate\" content=\"2025-07-14T04:35:51Z\" \/><\/div><div id=\"lyte_X299VBj-d0U\" data-src=\"https:\/\/i.ytimg.com\/vi\/X299VBj-d0U\/hqdefault.jpg\" class=\"pL\"><div class=\"tC\"><div class=\"tT\" itemprop=\"name\">Will Young Australians Be Better Off Than Their Parents? Delay, Decline or Just Different?<\/div><\/div><div class=\"play\"><\/div><div class=\"ctrl\"><div class=\"Lctrl\"><\/div><div class=\"Rctrl\"><\/div><\/div><\/div><noscript><a href=\"https:\/\/youtu.be\/X299VBj-d0U\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i.ytimg.com\/vi\/X299VBj-d0U\/0.jpg\" alt=\"Will Young Australians Be Better Off Than Their Parents? Delay, Decline or Just Different?\" width=\"640\" height=\"340\" \/><br \/>Watch this video on YouTube<\/a><\/noscript><meta itemprop=\"description\" content=\"In this episode of the Demographics Decoded Podcast, I explore with Simon Kuestenmacher and I ask the question \u2013 Will younger Australians be better off than previous generations. It\u2019s a question that used to have a simple answer. But today, the path to prosperity seems murkier than ever. We discuss the wealth distribution dominated by baby boomers, the impact of education and income growth, the challenges of homeownership, and the role of technology and mental health in shaping the experiences of Gen Z. The conversation highlights both the opportunities and challenges faced by today&#039;s youth, ultimately suggesting a mixed but hopeful future. Takeaways \u2022 Younger generations are facing a more complex financial landscape. \u2022 Baby boomers hold a significant portion of Australia&#039;s wealth. \u2022 Education levels among young Australians have increased, but so has student debt. \u2022 Income growth for those under 40 has stagnated over the past two decades. \u2022 Homeownership rates for younger Australians are declining. \u2022 Gen Z may benefit from entering the workforce during a labor shortage. \u2022 Technology offers both advantages and challenges for mental health. \u2022 Social media addiction is impacting the self-worth of young people. \u2022 A massive wealth transfer from baby boomers to younger generations is expected. \u2022 The future for young Australians is uncertain but holds potential for improvement. Chapters 00:00 The Future of Younger Australians 06:28 Wealth Distribution and Generational Wealth 11:12 Education and Employment Trends 15:39 Homeownership Challenges 20:58 Mental Health and Technology Impact 25:48 Looking Ahead: Optimism for the Future About Simon Kuestenmacher Simon Kuestenmacher is co-founder and Director \u2013 The Demographics Group https:\/\/www.simonkuestenmacher.com\/ https:\/\/www.tdgp.com.au\/ Simon is a prolific media commentator on demographic and data matters and a columnist for The New Daily and The Australian newspapers. He ranks as one of the world\u2019s Top 10 influencers in data visualisation. If you can\u2019t get enough of the kind of data that explains how the world works, make sure to follow Simon on Linked In or X (formerly Twitter) or any of his other social channels. https:\/\/www.linkedin.com\/in\/simonkuestenmacher\/ https:\/\/x.com\/simongerman600?lang=en Click here for a media enquiry or if you would like to book Simon Kuestenmacher for a speaking engagement. His presentations and quirky observations are enjoyed by audiences from the financial services, property, government, education, technology, retail and professional services industries, among others. https:\/\/www.tdgp.com.au\/enquire About Michael Yardney Michael Yardney- founder Metropole Property Strategists has been voted one of Australia\u2019s 50 most influential Thought Leaders. https:\/\/michaelyardney.com\/ https:\/\/metropole.com.au\/ While he is best known as a property expert, Michael is also Australia\u2019s leading expert in the psychology of success and wealth creation. Michael is a #1 best selling author of 9 books and frequently challenges traditional finance advice with innovative ideas on property investment, personal finance and wealth creation. Follow Michael on Linked In or Instagram https:\/\/www.linkedin.com\/in\/michaelyardney\/ https:\/\/www.instagram.com\/michaelyardney\/ Are you interested in property investment - let the team at Metropole build you a Strategic Property Plan to help give you clarity, direction and wealth-producing results. https:\/\/investor.metropole.com.au\/strategic-property-plan\/\"><\/div><\/div><div class=\"lL img-responsive\" style=\"max-width:100%;width:640px;margin:5px auto;\"><\/div><\/p>\n<p>For weekly insights subscribe to the\u00a0<strong>Demographics Decoded<\/strong>\u00a0podcast, where we will continue to explore these trends and their implications in greater detail.<\/p>\n<p>Subscribe now on your favourite Podcast player:<\/p>\n<ul>\n<li><a href=\"https:\/\/podcasts.apple.com\/au\/podcast\/demographics-decoded-unveiling-the-trends-shaping\/id1755981675\">Apple Podcasts<\/a><\/li>\n<li><a href=\"https:\/\/open.spotify.com\/show\/4309w6np7tNQYHUE6Kv9fQ\">Spotify<\/a><\/li>\n<li><a href=\"https:\/\/www.youtube.com\/playlist?list=PLssKuseYAEYwHYfEI262DzEqNQjZKhykA\">YouTube<\/a><\/li>\n<\/ul>\n<h2><span class=\"toc_link\" id=\"australias-wealth-looks-impressive-but-looks-can-be-deceiving\">Australia\u2019s wealth looks impressive \u2014 but looks can be deceiving<\/span><\/h2>\n<p>According to the 2024 UBS World Wealth Report, Australia now ranks second in the world in terms of <strong>median adult wealth<\/strong>, and our national household wealth grew by 11% in the last year alone.<\/p>\n<p>On paper, that\u2019s cause for celebration.<\/p>\n<p>But as Simon Kuestenmacher points out in our latest episode of <a href=\"https:\/\/demographicsdecoded.com.au\/\" target=\"_blank\" rel=\"noopener\">Demographics Decoded<\/a>, this figure comes with some hefty asterisks.<\/p>\n<p>\u201cAustralia looks artificially wonderful in wealth reports,\u201d Simon says. \u201cWhy? Because we include superannuation in our net wealth, which many countries don\u2019t. And because our housing is so expensive, property values inflate our wealth statistics, but that\u2019s not money you can easily spend.\u201d<\/p>\n<p>In other words, our wealth is largely <strong>locked up<\/strong> in homes and retirement funds, not liquid assets.<\/p>\n<p>And while the nation is wealthy, that wealth is <strong>concentrated<\/strong>.<\/p>\n<p>Baby Boomers, who represent just 25% of the population, control around <strong>half of the private wealth<\/strong> in the country.<\/p>\n<p>That\u2019s a result of decades of homeownership, compounding property growth, and favourable tax policies.<\/p>\n<p>It\u2019s not unfair; they played the game that existed.<\/p>\n<p>But it\u2019s left younger Australians feeling like the goalposts have moved.<\/p>\n<h2><span class=\"toc_link\" id=\"millennials-highly-educated-financially-strained\">Millennials: highly Educated, financially strained<\/span><\/h2>\n<p>One of the striking shifts between generations is education.<\/p>\n<p>Today\u2019s younger Australians are more likely than ever to finish school and attend university. \u00a0That\u2019s usually seen as a good thing: more skills, more opportunities.<\/p>\n<p>But it\u2019s not quite that simple anymore.<\/p>\n<p>\u201cA uni degree used to put you in the intellectual elite,\u201d Simon explains. \u201cNow, 50% of people have one. And while the cost of degrees has gone up, their value, in terms of career outcomes, has gone down.\u201d <!-- BODY -->\r\n<!-- \/21854739906\/WAAll \r\n<div class='gam-all googlead' id='div-gpt-ad-1591954430768-0' style='width: 300px; height: 250px;'>\r\n  <script>\r\n    googletag.cmd.push(function() { googletag.display('div-gpt-ad-1591954430768-0'); });\r\n  <\/script>\r\n<\/div> -->\r\n\r\n<div class=\"adplugg-tag\" data-adplugg-zone=\"wealth_advisory_body_\"><\/div><\/p>\n<p>We\u2019ve created a system where degrees are often required for entry-level roles that never used to need them, making them less a symbol of distinction and more a basic filter for job applications.<\/p>\n<p>At the same time, university graduates are entering the workforce later and with significant student debt, delaying their ability to save, invest, and buy property.<\/p>\n<p>Ironically, many large firms - \u00a0the likes of NAB, Deloitte, and PwC - have now realised that formal education isn't everything.<\/p>\n<p>\u201cEmployers are increasingly confident in their own training,\u201d says Simon. \u201cThey\u2019re saying, \u2018We\u2019ll teach you the way we want things done.\u2019 So, for many young people, a master's degree is no longer worth the time or the debt.\u201d<\/p>\n<p>The takeaway? Education still matters, but it\u2019s no longer the automatic ticket to a better life it once was.<\/p>\n<h2><span class=\"toc_link\" id=\"stagnant-incomes-rising-costs\">Stagnant incomes, rising costs<\/span><\/h2>\n<p>Millennials - those born roughly between 1980 and 1995 - \u00a0also entered the workforce under tough economic conditions: post-GFC uncertainty, the winding down of the mining boom, and sluggish wage growth.<\/p>\n<p>Even those who started their careers with solid pay soon saw <strong>income stagnation<\/strong>, particularly those under 40.<\/p>\n<p>At the same time costs, especially housing, rose sharply.<\/p>\n<p>The result? A growing gap between income and affordability, making wealth accumulation harder than ever.<\/p>\n<h2><span class=\"toc_link\" id=\"homeownership-the-great-generational-divide\">Homeownership: the great generational divide<\/span><\/h2>\n<p>Perhaps the biggest and most visible shift is in <strong>homeownership<\/strong>.<\/p>\n<p>Rates among 20- to 34-year-olds have fallen dramatically over the last two decades.<\/p>\n<p>What was once a rite of passage, buying a home in your 20s or early 30s, is now out of reach for many.<\/p>\n<p>Even when incomes are decent, housing costs have far outpaced earnings.<\/p>\n<p>And that\u2019s before we even get to the difficulty of saving a deposit while renting.<\/p>\n<p>But Simon points out, it\u2019s not just about affordability.<\/p>\n<p>\u201cWe\u2019re delaying everything - partnerships, marriage, babies, home purchases. When you delay buying, you delay the wealth-building benefits that come with owning.\u201d<\/p>\n<p>Meanwhile, renters miss out on capital growth and security.<\/p>\n<p>And without an attractive downsizing market, many Baby Boomers hold onto their large homes, further constraining housing supply.<\/p>\n<p>This creates a cascading effect: younger people rent longer, enter the market later, and build equity more slowly.<\/p>\n<h2><span class=\"toc_link\" id=\"is-gen-z-better-positioned\">Is Gen Z better positioned?<\/span><\/h2>\n<p>Despite the challenges, Simon offers a glimmer of hope, especially for the younger Gen Z cohort (born after 1996).<\/p>\n<p>\u201cGen Z is entering the workforce at a time when labour is in demand,\u201d he explains. \u201cThey're a smaller generation, which means they can negotiate higher wages early in their careers.\u201d<\/p>\n<p>That alone could make a major difference over time. <div class=\"adplugg-tag\" data-adplugg-zone=\"the_sentiment_campaign_body_\"><\/div><\/p>\n<p>And in a few decades, when baby boomers pass on their estates, we\u2019ll see the largest <strong>intergenerational wealth transfer in Australian history<\/strong>, an estimated $4 to $6 trillion in assets, much of it in property and super.<\/p>\n<p>However, not all of this will flow directly to Gen Z.<\/p>\n<p>Much of it will pass first to their Gen X parents, who themselves are under financial pressure, supporting both ageing parents and adult children, the classic \u201csandwich generation.\u201d<\/p>\n<p>Still, Gen Z may benefit indirectly, especially as <strong>Millennials upgrade their homes<\/strong>, freeing up stock on the urban fringe for younger buyers.<\/p>\n<p>As Simon puts it, we\u2019re not talking about <em>cheap<\/em> homes, but about <em>less unaffordable<\/em> homes.<\/p>\n<h2><span class=\"toc_link\" id=\"technology-a-double-edged-sword\">Technology: a double-edged sword<\/span><\/h2>\n<p>Of course, today\u2019s young Australians enjoy opportunities previous generations couldn\u2019t have imagined, thanks to digital technology, flexible work, and global connectivity.<\/p>\n<p>But this, too, comes at a cost.<\/p>\n<p>\u201cTechnology gave us smartphones, but it also brought social media addiction,\u201d says Simon. \u201cYoung women in particular are facing plummeting mental health scores. Young men, meanwhile, are being affected by online gambling, gaming and pornography.\u201d<\/p>\n<p>These aren\u2019t fringe issues.<\/p>\n<p>They\u2019re widespread, and they\u2019re reshaping how younger Australians experience the world, from self-image and relationships to career focus and resilience.<\/p>\n<p>There is some good news, though: awareness is growing, and governments are beginning to act.<\/p>\n<p>South Australia, for example, is moving to ban social media for under-16s, a move backed by research, even if it ruffles feathers in Silicon Valley.<\/p>\n<p>Simon argues that we\u2019ll adjust over time: \u201cParents are becoming more aware. The next generation will be better guided. We won\u2019t keep repeating the same mistakes.\u201d<\/p>\n<h2><span class=\"toc_link\" id=\"so-are-they-better-off\">So\u2026 are they better off?<\/span><\/h2>\n<p>The short answer: <strong>it\u2019s complicated<\/strong>.<\/p>\n<p>Yes, younger Australians have access to better education, longer life expectancy, and the world\u2019s information in their pocket.<\/p>\n<p>But they also face:<\/p>\n<ul>\n<li>Higher financial hurdles<\/li>\n<li>Delayed life milestones<\/li>\n<li>Increased mental health challenges<\/li>\n<li>Greater uncertainty in the job and housing markets<\/li>\n<\/ul>\n<p>This isn\u2019t necessarily a <strong>story of decline<\/strong>, though.<\/p>\n<p>It\u2019s more a story of <strong>delay and divergence<\/strong>.<\/p>\n<p>They\u2019ll still build wealth, just later.<\/p>\n<p>They\u2019ll form families, but perhaps not in the traditional mold.<\/p>\n<p>They\u2019ll succeed, but on different terms.<\/p>\n<p>And they\u2019re doing it in one of the safest, freest, most prosperous countries on the planet.<\/p>\n<p>As Simon puts it, \u201cWe\u2019re still moving forward. We\u2019re just adjusting to a new normal.\u201d<\/p>\n<h2><span class=\"toc_link\" id=\"final-thoughts\">Final thoughts<\/span><\/h2>\n<p>Australia stands on the edge of a demographic turning point.<\/p>\n<p>The choices we make today, about housing, education, taxation, and tech regulation, will shape not just the next generation\u2019s prosperity, but the kind of society we leave behind.<\/p>\n<p>Yes, the game has changed. But the opportunity to win is still there, if we\u2019re prepared to play a smarter, longer-term game.<\/p>\n<p>And that\u2019s where strategic thinking, financial literacy, and dare I say quality property investment advice come into their own.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>If you found this discussion helpful, don't forget to subscribe to our podcast and share it with others who might benefit.<\/p>\n<p>Subscribe now on your favourite Podcast player:<\/p>\n<ul>\n<li><a href=\"https:\/\/podcasts.apple.com\/au\/podcast\/demographics-decoded-unveiling-the-trends-shaping\/id1755981675\">Apple Podcasts<\/a><\/li>\n<li><a href=\"https:\/\/open.spotify.com\/show\/4309w6np7tNQYHUE6Kv9fQ\">Spotify<\/a><\/li>\n<li><a href=\"https:\/\/www.youtube.com\/playlist?list=PLssKuseYAEYwHYfEI262DzEqNQjZKhykA\">YouTube<\/a><\/li>\n<\/ul>\n<div class=\"adplugg-tag\" data-adplugg-zone=\"scoreapp_mobile_\"><\/div>\r\n<div class=\"adplugg-tag\" data-adplugg-zone=\"scoreapp_desktop_\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>For much of the 20th century, there was a widely accepted social contract: each generation would be better off than the one before it. Parents worked hard so their kids could go further, financially, socially, and personally. And for decades, that deal held true. But today\u2019s younger Australians, particularly Millennials and Gen Z, are wondering&#8230;<\/p>\n","protected":false},"author":3,"featured_media":190582,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[54,1075],"tags":[],"class_list":["post-190581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-property-updates","category-michael-yardney-property-investment-expert"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Will Young Australians Be Better Off Than Their Parents? Delay, Decline or Just Different?<\/title>\n<meta name=\"description\" content=\"For much of the 20th century, there was a widely accepted social contract: each generation would be better off than the one before it. Parents worked hard...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertyupdate.com.au\/will-young-australians-be-better-off-than-their-parents-delay-decline-or-just-different\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Will Young Australians Be Better Off Than Their Parents? Delay, Decline or Just Different?\" \/>\n<meta property=\"og:description\" content=\"For much of the 20th century, there was a widely accepted social contract: each generation would be better off than the one before it. Parents worked hard...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/propertyupdate.com.au\/will-young-australians-be-better-off-than-their-parents-delay-decline-or-just-different\/\" \/>\n<meta property=\"og:site_name\" content=\"Property Update\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/michael.yardney\" \/>\n<meta property=\"article:published_time\" content=\"2025-08-15T07:30:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-10T22:55:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cdn.propertyupdate.com.au\/wp-content\/uploads\/2025\/08\/ChatGPT-Image-Aug-1-2025-09_03_04-AM-1038x692.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1038\" \/>\n\t<meta property=\"og:image:height\" content=\"692\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Michael Yardney\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@michaelyardney\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/propertyupdate.com.au\/will-young-australians-be-better-off-than-their-parents-delay-decline-or-just-different\/\",\"url\":\"https:\/\/propertyupdate.com.au\/will-young-australians-be-better-off-than-their-parents-delay-decline-or-just-different\/\",\"name\":\"Will Young Australians Be Better Off Than Their Parents? 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