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Ok I've been reading a demographics book called The Big Picture by Bernard Salt. It seems that our generation, Gen Y (anyone born in the 15 years up to 1991) is going to face problems in the future. This is mainly due to the consumerism of the Baby Boomer generation (1946-61, i.e. our parents).
Here is the problems we'll face:
1. High tax rates to fund the pensions of Boomers, because of the "work hard, play hard" attitude meaning that this generation has little or no superanuation (retirement funds).
2.HECS. Baby Boomers got free university educations but voted to introduce HCES.
3. Global Warming etc (need anymore be said)
4. Urban migration (moving from country to city), this means that undue presure is placed on infastructure. Particularly dams in Sydney. With water shortages and no plans to build a new dam (building a dam would take 10 years anyway) Sydneysiders may be looking at water restrictions for many more years.
5. Housing prices are high due to boomers playing the property market. The average price range for a simple house in Sydney is $400,000-$700,000. Assuming the average income is $50,000pa. A Gen Y person will have roughly $25,000 disposable income each year (assuming they have no life) so it will takes 22 years to pay off and fully own a $550,000 home.
On the plus side:
1. Boomer parents tend to through money at children (e.g. Xboxes for Christmas etc)
2. Some boomers may be in a position to leave large inherentances.
3. They let you live at home at turn a blind eye when your bf/gf spends the night
Thoughts?
Here is the problems we'll face:
1. High tax rates to fund the pensions of Boomers, because of the "work hard, play hard" attitude meaning that this generation has little or no superanuation (retirement funds).
2.HECS. Baby Boomers got free university educations but voted to introduce HCES.
3. Global Warming etc (need anymore be said)
4. Urban migration (moving from country to city), this means that undue presure is placed on infastructure. Particularly dams in Sydney. With water shortages and no plans to build a new dam (building a dam would take 10 years anyway) Sydneysiders may be looking at water restrictions for many more years.
5. Housing prices are high due to boomers playing the property market. The average price range for a simple house in Sydney is $400,000-$700,000. Assuming the average income is $50,000pa. A Gen Y person will have roughly $25,000 disposable income each year (assuming they have no life) so it will takes 22 years to pay off and fully own a $550,000 home.
On the plus side:
1. Boomer parents tend to through money at children (e.g. Xboxes for Christmas etc)
2. Some boomers may be in a position to leave large inherentances.
3. They let you live at home at turn a blind eye when your bf/gf spends the night
Thoughts?
