I’m glad that I am not in my twenties now.
Here are six reasons why.
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Entering the housing market.
Is it actually worth it? To get into $500,000 debt just to buy a home and then be stuck paying it off for the next 30 years?
For more than a hundred years, the median house price in Australia was three times the median income, meaning first homes were not just accessible to more people, they were manageable on one income.
Now, the median house price is nine times the median household income. Young people facing this dilemma are justifiably concerned.
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Career expectations.
“Do you think travelling for a year will be bad for my career?”
Questions re travel vs career weren’t as relevant in my early twenties, because overseas travel wasn’t as common as it is now. But it’s also securing an entry-level job that seems to be a challenge for Gen Y-ers.
I hear from a lot of young people in my industry (advertising) that a huge percentage of graduates are struggling to get a foot in the door. Apparently a lot of companies posting “entry-level” jobs are really looking for people who’ve had between one and three years’ work experience. I certainly don’t remember things being so tough when I was a graduate.
- Too many amazing role models.
Something that must be overwhelming for young people today: the constant parade of precocious success stories.
Miley Cyrus had a total image makeover – and launched her second career – at age twenty. Mark Zuckerberg became the world’s youngest self-made billionaire at age twenty-three.