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Gen Y

Baby Boomer to Gen Y on home ownership

(Article by Sally Pepper)

Hello, I’ve heard that some of you are resentful and angry with our generation because we were able to buy houses and pay them off with one salary in a short time. Well I’m not sure that many of us were able to do it all that quickly but we were able to service a mortgage even at high interest rates on one salary. This meant that you, Gen Y had one parent who could, if they chose not to work full time outside the home, devote quite a lot of time to you in your early years when you needed it. Furthermore, the main bread winner and mortgage-servicing parent, usually the father, did not work the long hours expected now, which meant that actually both parents were able to spend a respectable amount of time with you, Gen Y, at that critical time called childhood.
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