Generation Y: Dragging Down the Housing Market?

Gen Y affecting housing and rental markets
Gen Y affecting housing and rental markets

Attention, Generation Y! You're screwing everything up -- again! Apparently, there are relatively few members of Gen Y, those born from 1977 to 1989, who are homeowners -- still.

First came the accusations that young adults -- those self-esteem-inflated, coddled slackers -- were a contributing factor to the housing bubble. Why? Because Gen Y was too busy prioritizing trips to Europe or avoiding "real life" by going to grad school than "doing the right thing": getting a job, and paying the mortgage. As for those rare Gen Y rascals with homes -- let's point to them as morally deficient examples of people who walk away from mortgages!

Let's not stop there, though. Let's blame all those bratty Gen Y members who can't get it together enough to even have a mortgage -- yes, you, dear renter! Don't you realize that if you're not buying an entry-level house, you are screwing it up for everyone else? If you're not buying we (the older folks) can't sell our homes and move into larger (or smaller) ones?

Message from Gen Y: Well, old-timers, we have taken two seconds to consider home ownership. What we've concluded is that, best case, it will take the majority of us 10 years or more to buy a house (if we ever decide to buy!) ... and, our preferences are shaping both the rental market and the buying market, so ... get used to it.

If you care to listen, here's how: