Disgraceful, snort, digusting, snort, repugnant: Hinch tells youth to rent

Crossbench senator Derryn Hinch says:

“The problem here is that people, and it’s unpopular to say this, but owning your own home is not an Australian right,” Senator Hinch told ABC radio.

“It’s a dream and everybody wants to do it. My parents, they were in their 40s before they could afford to buy their first home.

“It’s not something you’re meant to get with the two car garage when you’re 22. This generation and the one before think that’s the way it has to be. Well it’s not that way.”

Asked whether he was saying young people were unrealistic in thinking they could buy close to workplaces in capital cities, Senator Hinch said they were unrealistic in thinking they could buy a house at all.

…“In many European countries, and places like New York City, most people, I think I’m right in saying this, or it certainly was some years ago, most people rent. They don’t buy. They can’t afford it.”

“If you’re the person at the moment who’s been riding this boom and looks and thinks I might be able to sell my house because I’ve got a 10 or 12 per cent increase in recent times, you won’t be at all happy if suddenly people are being selfish,” he said.

“I think they need to look at and they’re doing it now, punishing the foreign investors who are buying big homes here at the moment as investments, some of them are doing it illegally, and I think punish and penalise and have forced sales. I can understand that’s a fair way to go,” he said…

The crossbencher said he supported measures to encourage older people to downsize without facing the penalty of losing the pension.

…“I’ll declare I have two properties,” Senator Hinch said.

Righto, so young Aussies can ‘suck it up’ and rent while landed retirees get assistance to downsize. Yeah, that’s fair. Stick to bashing pedos, Hinch. It’s a lot less hypocritical. Australian youth has every right to expect to be able to buy a house, just as their parents could. It’s a basic need.

The decline in home ownership amongst younger Australians has been well documented on this site. For example, the release last year of the Household, Income and Labour Dynamics in Australia (HILDA) survey showed a huge decline in home ownership amongst 25-34 year olds, as well as between 35-44 year olds:

New research also shows that the millennial home ownership rate in Australia (28%) is the second lowest of nine nations surveyed by HSBC, and way below the average home ownership rate of 40%. From The AFR:

High deposits and the cost of homes relative to salaries were the biggest reasons cited by Australian respondents…

The HSBC survey cited financial hurdles to ownership among millennials. Three-quarters of Australian respondents said they had not saved enough for a deposit.

As many as 61 per cent of Australians surveyed said they needed a higher salary before they could buy a home compared to just 54 per cent of millennials in Britain.

Australia desperately needs a youth political party to napalm these entitled Boomers out of the way.