Originally Posted by SHOFEAR
I belief most people who cant afford to enter the housing market aren't making the same sacfrices to save money that people were a generation ago.
You hear this from many people in older generations. While this may be true for some, I certainly don't think its true for the majority.
I consider myself lucky, and not at all part of the majority of people graduating today. I had significant help from both scholarships and my parents, something they have been saving up to do since before I was born. I have finished my exams and will convocate in May. I have no student debt (largely due to cheap tuition at Memorial University) a paid off car, and am currently renting. Thanks to some very strong references from professors, I have attained a job in my ideal field, in a Canadian city that is relatively cheap when compared to others. My salary isn't great, definitely low tax bracket level, but I have been promised an increase within the next few months.
I'm not bragging, I assure you. The point I want to make is that when compared to almost all of my close friends I have had the easiest ride, and likely am in the front of the line to buy a house. I've looked, its something I very much am considering. Unfortunately, if I want anything that isn't a complete dive, I STILL can't afford it without help from my parents. Now that I'm working, help from my parents is not something I wish to ask for. As such, I will continue renting. Housing prices are just too high (and this is in St. John's, which has a lower average house price than any of the cities in the Globe and Mail article I imagine.)
Now let's take one of my closest friends as an example. Forced to take student loans to attend school at MUN (and let's make note, MUN is one of the cheapest schools in the country if you aren't a student from Quebec going to school in Quebec, so people my age attending school elsewhere are in harder shape), loans which I would guess he'll be paying back for at least ten years. He has switched his degree once due to very poor reviews of the job market he wanted to enter, and so has to do an extra few courses before graduating. He can't find ANY part time work in his field as he finishes up his course load, so he'll be spending the summer roofing. To achieve his roofing job, he had to borrow money from his parents to buy a car so he could get around (more debt). Most students in St. John's have no choice but to purchase a vehicle before anything else in order to meet the demands of a job (not sure about other Canadian cities). It would be impractical to take the bus to a roofing job, but regardless, this car means even more debt. Hopefully when he graduates he'll be able to find a job with relative ease, but these are tough times, as has been frequently documented.
Both myself and my friend are clearly at opposite extremes of the spectrum. And make note, I'm not here to complain about either of our situations. My point is, the argument that my generation isn't willing to "make the same sacrifices" or "work as hard" is silly. Look at numbers. Look at costs. Read the article in question. That is a far more reasonable way to analyze the situation than claiming "your generation wants things handed to them." I'm 23 in July, I have two degrees, I think the Occupy Wall Street movement is a joke, and I've never asked for anything to be handed to me. I'm not going to complain while I sit here and rent, and I will bide my time until I can afford to purchase a nice place. But to say that things are the same today as they once were is an uninformed and silly statement. If someone who has been as lucky as me can't afford to purchase a house, who can? Certainly not my close friend, or other young people my age in other parts of the country. Things are tough coming out of school right now, and I believe the headline of the Globe and Mail article hits the nail on the head.
And note, I don't disagree with your assessment that my generation doesn't do small things like grow their own tomatoes. You're right, I don't know anyone that does that, and I do know a hell of a lot of people who take off to Cancun for a week to celebrate the end of classes. I agree with you there. My point is that when you look at the numbers, and you look at the differences between then and now, my generation isn't facing problems that can be solved by planting a vegetable garden.