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[quote=Anonymous][quote=Anonymous]You people are stupid, Gen Y are smart, they don't want to lower their standard of living to a 3rd world country. if they can't get what they want they will wait or continue to rake in more money and get higher income jobs because of their vast superior knowledge of technology over the old boomer fuck heads.[/quote]

Wow.  You must be...young.  Gen  Y has the highest level of boomerangs who flew back to their parents' nest since the Great Depression.  Gen Y has an overabundance of unemployed college grads who cannot find work that they are willing to take and go home to live off of their parents hospitality.  There are more kids that are just trying to rake in enough money to move out on their own into a rented apartment, let alone buy a home.  Gen Y has the highest accumulated level of debt of any generation at the same age due to the huge amount of school loan debts.

No, the point that I got out of OP's post was not that Gen Y home buyers were doing anything different than others (e.g. buying, doing renos before moving in) was that they were doing this on borrowed money while having extensive school loans, e.g. when they could not afford it.  They have extensive school loans and are doing expensive upgrades to homes (especially when it is only for aesthetic reasons and not for functional reasons) and will be the ones that are going to be have huge financial problems in several years due to the overwhelming debt:earnings ratio.  And probably the ones whining about needing a bailout from the government.[/quote]

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