Young people facing a debt tsunami

New research into consumer habits and attitudes during the peak of the coronavirus pandemic reveals alarming statistics surrounding young people facing a debt tsunami.

Nav, 24 years old, and his partner standing outside their newly purchased property. Source: Supplied

The study also found that young Australians were increasingly turning to loans or borrowing money from others.

Research into consumer habits and attitudes during the peak of the coronavirus pandemic found half of respondents were uneasy about their ability to pay rent.

The Consumer Policy Research Centre study shows between May and July, young Australians especially were increasingly turning to loans or borrowing money from others.