Mortgage broker calls out spending habits of young Aussies saying there's no cost of living crisis: 'You see everything'

June 16, 2026 - 07:30

An Australian mortgage broker has sparked debate by claiming there is no real cost of living crisis for many young people, arguing instead that it is a "cost of spending" crisis. The broker, who works with first-home buyers daily, says he sees "ridiculous" spending habits that prevent clients from saving for a deposit.

"You see everything," he said in a recent interview. He pointed to common expenses like daily takeaway coffee, frequent Uber Eats orders, and expensive gym memberships that drain budgets. He also called out luxury car leases and high-end clothing purchases as regular items on client bank statements.

The broker stressed that these are not necessities but lifestyle choices. He said many young Aussies have the income to save but choose to spend on non-essentials. "It is not that they cannot afford a home. It is that they cannot afford a home and also have the lifestyle they want," he explained.

His comments come as housing affordability remains a major issue in Australia, with property prices in major cities like Sydney and Melbourne well beyond the reach of average earners. Critics argue that the broker's view ignores rising rents, stagnant wages, and inflation on essentials like groceries and utilities.

Still, the broker insists that for clients with stable jobs, cutting back on "luxury spending" is the fastest path to home ownership. He advises young people to track every dollar for a month to see where their money actually goes. "Most people are shocked at how much they waste on things they do not even remember buying," he said.