Gen Y BlameWatch: Rising Rents Redux

Six months later and Mr McNamara from Australian Property Monitors is at it again.  In a short piece titled "Rents in Australian cities will soar in the next four years" he once again singles out Gen Y as the cause of rising rents.

APM general manager Michael McNamara said rental supply was tight as a drum.

"As Gen Y leaves home and strong migration patterns take effect, our construction sector struggles to keep up the supply of well-located, affordable property to accommodate a growing population of renters," he said.

Of course people are moving out of home, but to somehow come to the conclusion that because someone born post-1980 rather than pre-1980 will somehow impact the rental market more is simply ridiculous. There's not some backlog of youngsters living at home that are all suddenly going to move out at once!

(source) (previously)

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