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Meet the typical Australian millennial: They're delaying marriage and kids, have $16,000 in student debt, and their housing woes sparked political change.

  • Delaying kids and priced out of homes, the typical Australian millennial looks similar to Americans.
  • Student debt averages $16,000, and the government doesn't collect until you reach a certain income.

This story is part of a series called "Millennial World," which seeks to examine the state of the generation around the globe.

American millennials aren't the only ones derided for spending all their money on avocado toast.

That globe-spanning, generation-defining stereotype, in fact, originated in Australia.

In 2017, 60 Minutes Australia asked Melbourne real-estate mogul Tim Gurner if Australian millennials were forever locked out of the housing market.

"Absolutely, when you're spending AU$40 a day on smashed avocados and coffees, and not working," he replied — a comical exaggeration of the situation that has been applied to millennials around the world.

The similarities between Australian and American millennials don't stop there, according to data from the Australian Census Bureau. Both cohorts are less religious; delaying marriage and kids; highly educated with lingering student debt; and earning more than their parents, but feeling like it doesn't go as far.

But, look closely and things are a little different down under.

Student debt is subsidized by the Australian government, doesn't start until you reach a certain income threshold, and is indexed to inflation — making it much less daunting than in the United States.

Also frustratingly locked out of the housing market, Australian millennial voters have pushed a third-party, the Greens, into a seat at the table.

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