Derryn Hinch tells millennials that owning a home is a dream, not a right, page-14

This is true. Many sons stay on with their parents, 3-4 generations live together. This is how people own homes all over Europe and elsewhere.

He talks of renting as being the answer, but renting is also different around the world. Renting isn't secure or stable here, you can easily be asked to move on by your landlord after your lease is up, whereas a lease can mean decades of living in the same house in say Europe.

I agree that there are sacrifices to be made, and maybe the younger generation wants too much too soon, but our situation is really unique here and you can't compare us with New York!

The other difference between his parents' generation and ours, is that our parents married so much younger. This often meant 2 incomes early in the picture, sharing bills and rent/mortgage. Nowadays we don't really share our incomes as such until much later and we partner up much later too. Think about how much more money you'd have if you married in your 20s and share these basic costs together! This is really rare nowadays, most people are single (or at least not sharing income) and funding their studies or renting and paying their way through their 20s on one income.