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For young people today, the idea of ever��owning a home and having any financial security or upward social mobility is a utopian fantasy, the true impact of which is yet to be realised.

The “Australian dream” is rapidly turning into a nightmare.

With the cost of groceries and rents��, finding a secure job, buying a house and saving some money seems like a dream of a past long gone.

�ճ������put it bluntly: “The world you grew up in is dead.”

When it comes to housing, health, debt, tax and income, young people are��.

Today’s 30-somethings are the����in almost 50 years where the majority do not own a home: things don’t look any brighter for 20-somethings and younger.

House prices hit����in March and, according to new data from the Australian Bureau of Statistics and CoreLogic, housing in most major cities is only affordable to those on the highest incomes.

�մ�����in Gadigal/Sydney — without the incumbent financial stress — you'd have to be raking in $293,578 a year. In Naarm/Melbourne, you need $189,962. For Boorloo/Perth, the figure is $140,313 and Garramilla/Darwin is still a whopping $124,339.

��for units hit $590 nationally in the March quarter and in Gadigal they are as high as $700.

Contrast this to the ��national��income of $67,000 a year.

A single person on JobSeeker, with the maximum Commonwealth Rent Assistance included, will only receive roughly $24,718 a year.

That means that someone earning the median income and paying median rents would use almost half their income on rent — way above the 30% that constitutes rental stress.

For those on Centrelink payments, there is almost no hope of living the dream.

��found last year, before the record rent hikes, that only��four rentals��across the whole country were affordable for someone on JobSeeker.

Unsurprisingly, this state of affairs is having a��,��particularly those on lower incomes.

The combination of high food and energy prices, lack of affordable healthcare, housing insecurity, and working longer hours, is leading to��.

But Treasurer Jim Chalmers has already ruled out any emergency spending in the May budget because he wants a surplus. He����of��business��leaders��in March that he will use the budget to “whip the economy into shape” and will not prioritise cost-of-living help.

However, he did say there will be a significant increase to “defence” spending, based on the 2023����recommendations.

This means more United States military bases, more investment in high-tech weapons, $400 billion+ being sunk into the AUKUS nuclear submarines, and allowing US and British nuclear submarines to dock at Garden Island, Western Australia.

Labor handed����in February, despite the��continuing Gaza genocide.

It also plowed ahead with the Coalition’s��, albeit slightly tweaked, granting $147.5 billion to the richest 20%, while giving nothing to the poorest 20%.

The tax cuts are set to cost nearly $320 billion over the next 10 years.

Capital gains tax concession discounts and negative gearing are set to cost about $157 billion over the next decade.

This amounts to almost $1 trillion in public funds that could be better spent on desperately needed social and environmental reforms — public housing, raising the rate of welfare payments, reining in food prices and rent controls.

Instead, Labor chooses to prioritise the military-industrial complex, developers and speculators and to go slow on benign energy and climate-related reforms.

Young people are feeling the gut-wrenching impact of growing up in a world that puts profits above all else.

Meanwhile, we are being fed into the meat grinder of poverty, insecure housing and employment.

This is the nightmare���鶹��ý��has been fighting for more than 30 years. Help build the alternative that puts people’s needs first by����or donating to our��.