As a millennial, I frequently find myself being told by politicians and journalists to stop complaining about housing affordability. It's all about working harder, saving more and, for goodness' sake, keeping off the avocado.
We're often painted as living too much in the moment with little regard for what lies further down the capitalist path. I understand where they are coming from. It's important to self-motivate and navigate personal savings — but this should not be at the cost of future wellbeing.
The Coalition in the past week has been divided over whether young Australians should be allowed to withdraw from their superannuation to make deposits for first homes. Under this scheme, Australians could use the money earmarked for their retirement to gain assets during their working life.
Tony Abbot, Craig Kelly, Ian Goodenough and Tony Pasin have all voiced support for the idea which remains on the budget agenda. Nationals Senator Matt Canavan told ABC radio this economic reshuffle has been used in other countries, but he didn't give any examples of where it has been successful.
The government has asserted the money shouldn't be used for luxuries such as overseas holidays, but thinks that if superannuation can be invested in other people's assets and equities, then individuals should be able to use it towards their own.
A mentality of individual investment when it comes to super may be a dangerous guideline for young professionals to follow. A few years of super payments in a career may seem trivial, but Industry Super economist Stephen Anthony warns that with compound interest, it could mean losing as much as 12 years' worth of payments from your fund.
As a young person, I'm concerned about using a system which was put aside for our economic welfare in retirement as another savings account for instant gratification. If anything, it seems the government is trying to solve the housing crisis not through direct action, but by encouraging young people into lifelong debt as a quick fix.
If the property market is a fire, it feels like the government is giving us all a fire blanket instead of fighting the engulfing flames.
"Perhaps under this scheme there would be an argument for young business owners to be able to withdraw to further their entrepreneurial ventures, the same way a first home is considered to be an asset."
Prime Minister Malcolm Turnbull has been warning against using money that was intended to give Australians 'a dignified