The Cost of Living Crisis, Gen Z vs Boomer Wealth Divide & How it’s Impacting Our Mental Health | Ep. 72

In this episode of the Level: Asian podcast, we unpack the housing and cost of living crisis.

We begin by sharing how recent increases in rent, interest rates and groceries have impacted us personally and how we’ve changed our spending habits to adjust. The crew also discusses the challenges different generations face when it comes to wealth building, the changing values towards money and outlooks towards work/life balance.

Davie then explains the dire state of housing affordability in Australia, using his favourite thing in the world (spreadsheets).

Enjoy the episode!

Chapters

• 0:00 Intro
• 2:47 Answering listener submissions about the Cost of Living Crisis Experience07:42 - The Vicious Rental Cycle
• 7:42 The Vicious Rental Cycle
• 11:40 The Rise of Property Prices + Combating with Mortgages
• 23:47 The Cost of Living From the Gen Z Perspective
• 27:59 Why The Younger Gen CAN’T Take Any Risks
• 31:24 Facing Different Economic Circumstances Between Generations
• 37:42 Moving Out the City as a Cost of Living Solution
• 42:08 The Gen Z Work-Life Balance Approach
• 45:44 Navigating Generational Trauma On Top of Cost of Living
• 48:28 Starting From Scratch as a New Generation
• 53:04 Looking at the Stats: How Long Will It Take For a Single Adult to Buy a $1M House from Earning 100K?
• 1:00:49 Looking at the Stats: How Long Will It Take For a Single Adult to Buy a $1M House from Earning 55K?
• 1:01:56 Looking at the Stats: How Long Will It Take For a Single Adult to Buy a $1M House from Earning 150K?
• 1:05:04 Mental Health is the No.1 Concern of Gen Zs
• 1:06:28 “The 996 Culture” in China
• 1:12:53 Understand the Economic Circumstances
• 1:13:48 Final Messages
• 1:15:43 Outro