00:02Millennials and Gen Z are increasingly being priced out of the great Australian dream.
00:08I'm going to be stuck with living with my parents.
00:10Unless I win the lotto, probably no chance to be honest with you.
00:14And they're not alone. Australians of all ages are facing the prospect of renting for life.
00:20I cannot afford to retire. It terrifies me.
00:24After beating terminal cancer, 66-year-old Joanne Allen wants nothing more than to garden and travel with her grandchildren.
00:31But instead, she's worrying about where she'll live next.
00:35It's not a nice feeling. It can be really overwhelming.
00:39Demographers say the problem is only going to get worse.
00:43It's a crisis guaranteed to happen because we know that the share of renters goes up
00:48and we know that costs that the public coffers have to pay will increase as well.
00:52About one in four Australian households rent privately
00:56and it's no longer considered a stepping stone to home ownership.
01:01The proportion of Australians renting is on the rise, doubling for retirees from 4.6% in 2001 to 9
01:09.4% in 2024.
01:11Housing experts are calling for government tax concessions for landlords linked to a set of national standards
01:17which include longer leases and property upgrades.
01:21We will provide some negative gearing and capital gains tax concessions to landlords of existing properties
01:27but only if they adhere to a new set of national rental tenancy standards.
01:32For lifelong renter Jo, it's change which can't come soon enough.
01:37It's the one thing that keeps me awake most nights because I just don't know how I will survive.
01:43For more information, we can't keep the same change which has grey and how I will not be able to
01:44live.
01:44We can't do anything that can beani-contained to a nationality.
01:46You
Comments