The Ongoing Debate

The generation debate is nothing new. Did the boomers have it easy with cheap homes and low costs? Or are millennials and Gen Z just bad with money and too soft?

Let’s break it down.

On one side, you’ve got boomers saying:

“Back in my day, we saved, we worked hard, we knew the value of a dollar.”

Cue the eye rolls from younger generations:

“Yeah, back in your day you could buy a house for $18,700… we couldn’t even get a litter box in Sydney for that now.”

So who’s right?

Fewer Young Aussies Own Homes Today

Let’s look at the numbers. If we compare home ownership across generations at the same stage of life — ages 25 to 39 — the trend is clear:

  • Boomers: 66% owned property
  • Gen X: 62%
  • Millennials: 55%
  • Gen Z: only 26.3%

That’s a massive drop. And it gets even more extreme when you look at how many owned their homes outright. Boomers were three times more likely to have paid off their homes completely by this age bracket.

What About House Prices vs Income?

Let’s look at the income-to-house-price ratio:

  • 1970s: Median income was $4,100, house price $18,700 → Ratio: 4.56
  • 1980s: Income $15,000, house price $48,000 → Ratio: 3.2
  • Today: Income $90,000, house price $892,000 → Ratio: 9.91

In other words, homes now cost almost 10 times the average income. That’s a serious shift.

Government Grants Have Also Grown

Government support for first home buyers has changed over time:

  • 1964: $500 grant introduced
  • 2000: John Howard lifts it to $7,000
  • 2007: Kevin Rudd increases it to $21,000
  • Today: Up to $70,000 available in grants and incentives

So while prices have gone up, government support has grown too — if you know how to use it.

Affordability Has Changed

Here’s another stat to think about:

  • 1990: Median income buyers could afford 50% of homes
  • Today: They can afford just 13% of homes

Yes, affordability has taken a hit — but that’s only one side of the story.

So… Is It Easier or Harder Now?

After all that data, here’s the big opinion:

It’s actually easier today — but only if you’re willing to do three things:

1. Get committed

You need to really want to own a home. That means making sacrifices, setting clear goals, and sticking to a plan.

2. Be humble

You might not buy in your dream suburb. You may need to commute an hour or two. That’s okay. You start where you can afford, not where you wish.

3. Be smart

Use the grants, incentives, and low-deposit options available today. Don’t leave government money on the table.

If you’re willing to do those three things — yes, it is easier to buy your first home now than in the past. But if you’re not? Then it’ll always feel out of reach.

Final Word

Forget the blame game. Don’t worry about boomers or Gen Z or who had it harder.

All you need to do is:
✅ Get committed
✅ Be humble
✅ Be smart

That’s the way in. Do it with TMAP.