A Galaxy Research Survey in June 2008 reveals that although 22% of young adults are paying off a mortgage, others deal with rising rents and mortgage payments by moving back with their parents.
The survey also revealed that over the next 12 months:
One in ten 18-24 year olds will move back home to save for a house deposit, and
A quarter of those surveyed will look for another roommate to reduce rent.
And Australian families are considering changes too:
27% plan to pay off their mortgage quicker
13% will need to redraw available funds for living expenses
One in 10 may sell to downscale or rent.
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