Australian millennials born in China, India, break the stereotype

More negative stereotypes include being obsessed with social media, poor money-savers, mocking their parents and addicted to overpriced breakfast items.

these claims, but that do not receive much attention is the impact of immigration on the cohort of young Australians.

According to Laura Demasi, director of social trends at Roy Morgan Research, young Australians born in Asia have a much more "baby boomer" mind than their native-born counterparts

The research firm found that Millennials of Asian origin were already challenging some of the major stereotypes badociated with Gen Y.

Writing for Fairfax Media, Demasi notes that Australian millennials of Asian origin were more likely to get married. In fact, 86% of children born in India are married, almost double those born in Australia. They are also more likely to have children.

Spending patterns also differed by culture. While countless stories have been written about China's new generation of wealthy spenders, the researchers found that children born in Asia were better savers than their Australian-born counterparts. They are also more likely to own their own home.

They also differ in politics

Millennials are usually characterized as leftist, progressive and more aware of issues like gender equality and LGBT rights. the results revealed that millennials of Asian origin were more likely to reflect the typical opinion of "baby boomers" – and were more likely to vote for the Liberal Party.

Three times more likely to believe that "traditional" gender roles 77% of generation Y born in Australia believe that same-bad couples should be allowed to adopt, compared to only 54% of Canadian-born children . India

But the most important gap involved education, with Australians being born in China and India before the natives.

Note that less than half of Australians born here have a degree, compared with 82% in China and 79%. Even outside of cultural differences, the tendency of Australian youth to travel and invest more in their way of life is not just about struggling to save.

A number of studies have shown that Generation Y saves better Recent data from Westpac Life show that the most popular goal for clients aged 25 to 34 is to save for a house, with 10 times more money for this purpose than holidays or trips. [19659003] Kathryn Carpenter, Chief Savings Officer of Westpac, said that the myth that millennia would waste their money on "lifestyle choices," such as toasts and travels, was not easy. not represented in the search. "However, our research shows that many actually take savings for a home depot and prioritize it over other goals.

Similarly, an ING survey released last month showed that more than one-third of Generation Y members are saving to buy a home in the next three years.

The Australian Institute of Health and Welfare (AIHW) released a report last month that 67.5% of households owned their own home, compared to 71.4% in the last two years. decades.

During the same period, private rents went from 18.4% to 25.3%. the proportion of households rented through housing programs in the states and territories increased from 5.5% to 3.5%.