During the conference The Conversation will publish a selection of pieces written by the authors of papers to be delivered at the conference.
Because it’s been seen as a one-way street, we have tended to worry most about the first big transition: moving from renting to getting a mortgage, assuming that afterwards things will be okay. But things are becoming more complicated.
The charts below are built from microdata from the Bureau of Statistics survey of income and housing. Each shows the changing housing profiles of Australians in a particular age group between 1990 and 2015.
The bars show – from left to right – the share of Australians who are renting, have large mortgage debt, moderate mortgage debt, low mortgage debt; and have become outright owners, both in 1990 and 2015.
Then and now. Home tenure by type, per cent
25 - 34 year olds:
- ^ Australian Conference of Economists (www.ace2019.org.au)
- ^ own a home (www.tandfonline.com)
- ^ pay down a mortgage (www.ahuri.edu.au)
- ^ survey of income and housing (www.abs.gov.au)
- ^ Author's calculations, ABS 6553.0 microdata (www.abs.gov.au)
- ^ Household, Income and Labour Dynamics (melbourneinstitute.unimelb.edu.au)
- ^ more than once (www.ahuri.edu.au)
- ^ than in Britain (www.ahuri.edu.au)
- ^ mortgage stress, divorce or relationship breakdown and poor health (www.tandfonline.com)
- ^ home equity (www.ahuri.edu.au)
- ^ rent-free housing (www.ahuri.edu.au)
- ^ bank of mum and dad (www.tandfonline.com)
- ^ wealthy and willing parents (theconversation.com)
- ^ mortgage stress in old age (theconversation.com)
- ^ mortgages that aren’t extinguished (www.ahuri.edu.au)
- ^ lifelong renting (www.ceda.com.au)
- ^ housing assistance (www.ahuri.edu.au)
- ^ security of tenure (www.ceda.com.au)
- ^ Can the private rental sector provide a secure, affordable housing solution? (theconversation.com)
- ^ depresses wellbeing (journals.sagepub.com)
- ^ secure rental tenure (journals.sagepub.com)
- ^ First Home Loan Deposit Scheme (www.liberal.org.au)
- ^ More people are retiring with high mortgage debts. The implications are huge (theconversation.com)
Authors: Rachel Ong ViforJ, Professor of Economics, School of Economics, Finance and Property, Curtin University