Gen Y-Don't believe the hype

Globe and Mail: CARRICK - Don't believe the hype on home ownership

The housing boom of the past decade has given young adults a whole lot of debt and some pitiful gains in net worth.  The twenty- and thirtysomethings of Generation Y who are entering the market today are in for worse treatment.  A mindset for those who choose to buy a house: It's about lifestyle, not making an investment.  Home-ownership boosters base their argument that homes are a good investment on the fact that resale prices have increased more than 6 per cent annually since 2000, triple the inflation rate.  This gain helped power a rise in household net worth that has been much talked about lately because it suggests households are financially strong.



Michael James

Michael James

Sales Representative
CENTURY 21 Explorer Realty Inc., Brokerage*
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