We’re having children seven years later, getting married is eight years later, buying homes nine years later, and increasingly retiring without them.
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Josh Frydenberg’s review of the retirement income system will have to consider the growing hole caused by our decisions to delay buying homes for longer and longer.
Increasing numbers of older Australians face a harder time paying the bills when they retire because they’ll still be paying off a mortgage or renting a home.
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People over 65 who still have a mortgage or are renting are projected to double in number by 2031. The trend is likely to hit government budgets and leave more retirees in poverty.
Half a million Australians aged 50 and over lost their homes in the first decade of this century.
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