Gen Z: not off the treadmill yetZoomer Ima Caldwell: \u2018Perhaps somewhere down the line, housing in Australia could be viewed as a human right rather than a good investment.\u2019 Photograph: The Guardian<\/p>\n
It\u2019s hard to speak for the millions in the gen Z collective. We were born in the mid-to-late 90s to 2010, making up at least 18.2%<\/a> of the Australian population, and are at many wildly different stages of life. Some zoomers have started families; others live in share houses or childhood bedrooms. Despite our varying circumstances, we are largely united by a sense of uncertainty<\/a>.<\/p>\n I was born in Y2K. Each morning I scroll through real-time global conflict that feels apocalyptic. The Treasury\u2019s \u201cworst-case scenario\u201d modelling felt weirdly comforting.<\/p>\n Jim Chalmers said this year\u2019s budget would address \u201cintergenerational equity<\/a>\u201d. I hope reforms to negative gearing and capital gains tax will fulfil their purpose for my generation, most of whom are locked out of the housing market. Rebalancing the property market away from investors should make it easier for first home buyers to enter the market. The government estimates 75,000 first home buyers will be supported over the next decade.<\/p>\n An investment of $59.4m to provide social housing for more than 4,000 people aged 16 to 24 at risk of or experiencing homelessness might perk gen Zers up a little. Perhaps somewhere down the line, housing in Australia could be viewed as a human right rather than a good investment.<\/p>\n It\u2019s unclear whether young renters will eventually benefit from the property tax reforms. But no change will be quick enough to remedy the unaffordable rental increase my housemates were just slapped with, forcing us back on to the Sydney market with a month\u2019s notice. The weight of Hecs debt also brings down the vibe, and the budget offered no relief here. We\u2019ll see how effective any changes to strengthen Medicare are when we\u2019re no longer paying out of pocket<\/a> for basic healthcare.<\/p>\n A lot of gen Z is on a treadmill, funnelling their wages into rent and bills \u2013 or living at home with mum and dad while saving for a home deposit.<\/p>\n It sounds great to have a budget based around intergenerational fairness<\/a> but that goal still seems a long way off. \u2013 Ima Caldwell<\/p>\n Millennials: young parents can\u2019t catch a breakMillennial Molly Glassey: \u2018What\u2019s in this for me and my kids? Well, not a whole lot unless I decide to have another.\u2019 Photograph: Jessica Hromas\/The Guardian<\/p>\n