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!
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