A new generation of young people, dubbed property orphans, may be destined to be renters for life. New information from the Australasian analytics company suggests Generation Y, defined as those aged under 28, have rapidly declining prospects of owning a home. The report unfairly states that they are borrowing up a storm, with personal loan and credit card up 12.1 per cent and 19.7 per cent respectively. Not much of a storm. While younger New Zealanders have been hit hardest, the changes are taking place across the board. Vedas mortgage inquiry volumes have now fallen for 11 months in a row. Across all age groups, inquiries were down by 30 per cent in August compared to August last year and down 13.7 per cent for the three months to August. stuff.co.nz/business/money/10533442/Gen-Y-give-up-on-home-owning-dream-Veda
Posted on: Tue, 23 Sep 2014 05:52:19 +0000
Trending Topics
Recently Viewed Topics
© 2015