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How will youth unemployment affect Gen Z’s ability to buy a home? The Bank of Mum & Dad is needed more than ever.

How will youth unemployment affect Gen Z’s ability to buy a home? The Bank of Mum & Dad is needed more than ever.

COVID-19 pandemic: How will youth unemployment affect Gen Z’s ability to buy a home?

When the country’s oldest Millennials were in their 20s, Australia saw its first economic downturn since those same young adults were in primary school.

Australia managed to avoid a recession after the Global Financial Crisis in 2008, but the economy took a hit, and young people bore the brunt of it.


The COVID-19 pandemic is likely to have a similar, if not worse, impact on young adults today, who will face a tough labour market for some time – making it even harder to save for their own home.

Getting onto the property ladder was already tough for older Millennials – many making the leap with help from the Bank of Mum and Dad. But for younger Millennials and Generation Z, who may find it harder to get a job or earn good salaries – and whose parents have less home equity – challenges lie ahead.

Tim K. Dean, Credi Founder | Commentator & Expert on Family Lending, Bank of Mum & Dad and Neo-Credit Scores is available for media interviews and appearances. More…

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Formalise and manage your loan agreements online with Credi. Trusted by over 7,000 people worldwide. Takes minutes to set up

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Credi the #1 lending management platform for friends family & their business

Formalise and manage your loan agreements online with Credi. Trusted by over 7,000 people worldwide. Takes minutes to set up

Use Credi for FREE – for all loans up to  A$5000, $5000 / €5000,  £5000 . Loans over cost A$20, $20, €20,  £20  or other other local currency amounts (sales tax may apply).

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