‘The irony’: Video of university students in the 1970s making young Aussies fume

Domain Chief of Research Dr Nicola Powell discusses how the latest policies from the federal budget will affect the housing and rental crisis. “It is great to see that rental assistance has increased by 10 per cent, and that is on top of the 15 per cent increase that was announced in September of last year, it is grossly needed,” Dr Powell told Sky News Australia. “I think there is more that needs to be done, I think it is a positive step forward, we do need to do things like reducing red tape to make sure there is land being released in the right areas at affordable prices. “I really think it is a call to the government of all levels, local governments, states to federal, to collaboratively work together to get the job done. “Ultimately, that job is about providing supply.”

The clip was taken from the ABC’s This Day Tonight current affairs program, which ran during the late 60s and 70s.

It showed Australian university students in 1977 breaking down their expenses and being asked about government plans to potentially introduce a higher education loan scheme.

In 1974, the Whitlam Labor Government, not only abolished university fees, but also introduced the Tertiary Education Assistance Scheme that allowed full-time students to receive a living allowance.

Speaking to the program, one student revealed she received an allowance of $43 a week, which, adjusted for inflation, equals $284.74 in today’s terms.

She then launched into how she used the payment.

“$14 goes on rent, I pay $8 food, and then there’s gas, electricity, phone bills and transport costs, food, sort of when I am out at uni,” she said.

The student said she would have between $8 and $10 left over after all over her “absolutely essential” expenditures, which would then go towards stationary and books, adding the latter was the “main expense”.

Another university student said they were “totally against any government administered loan scheme designed to either replace allowances or to supplement them”.

One young man revealed his education was funded by the Aboriginal Tertiary Scholarship Scheme.

He said that if this scheme were to end, he would be “totally at the mercy of the Department of Education, if they decide to pay the fees”.

“I couldn’t do it myself,” he added.

The video has generated more than 900 comments since being shared on TikTok by the ABC, with the majority of responses from young Australians who were left stunned by how much things have changed.

“I’m sorry did she say $14 on rent and then $8 on food … far out can we please bring this back please,” one person wrote.

“Amazing to see how far our quality of life has fallen,” another said, with one person claiming that life was on “easy mode” back then.

One added: “Sad really, Australia use to be such a good place to live, now our younger generations are doomed before they start.”

According to the RBA inflation calculator, $14 in 1977 is equal to $92.71 today.

Many commenters were quick to point out that finding somewhere to rent for $92 a week in 2024 is nearly impossible.

“Their rent is 32 per cent of their income and with my GOOD DEAL I pay 70 per cent of my income to rent, if I moved literally anywhere else I’ll be paying 80 per cent of my income minimum to rent. This is unacceptable,” one social media user claimed.

New data from PropTrack revealed median rent across the country has now hit a whopping $600 a week.

It comes as Finder reports that almost one in two renters say they are struggling to pay their rent – up from 36 per cent two years ago.

Experts from Finder’s RBA Cash Rate Survey expect rental prices to increase throughout Australia by the end of 2024, with spikes between 3 per cent and 9.5 per cent predicted across different capital cities.

People were quick to point out the “irony” in the video, noting the people speaking were from the same generation of Baby Boomers that were now telling Millennials and Generation Z that they needed to cut back on “avocado toast” if they wanted to buy a house.

“These are the same people that tell us to stop eating avocado toast and Netflix and we will be able to buy property,” one person wrote.

“But their generation will continue to tell us they had it just as hard, if not harder, and that we are just lazy,” another said.

Another simply claimed that “these are our landlords today”.

One added: “The irony of people getting paid to study, telling the new generations have to pay HECS.”

Graham Cooke, head of consumer research at Finder, said rents have been climbing steadily and outpacing wage growth.

“With vacancy levels low and rents skyrocketing, finding an affordable place to live is becoming a real challenge for plenty of renters,” he said.

“When the cash rate increases, all the focus tends to be on mortgage holders, but renters have actually been harder hit, and a higher proportion of them experience financial stress due to the cost of putting a roof over their head, forcing them to cut back on other essentials to keep afloat.”

For those who are seriously struggling to pay their rent, Mr Cooke suggested speaking to their property manager or landlord and see if there is any room for negotiation.

“Consider looking at other options such as a shared house with cheaper rent, or moving in with family or friends temporarily,” he said.