Many members of the younger generation failed to learn how to work. They watched TV and played video games instead of paying attention in school and getting a job when they were eligible. Many can't read their own high school diploma. Businesses don't hire uneducated, unmotived people who refuse to work. You reap what you sow.
I turn 49 on the 26th of this month. I normally work 60 to 70 hour weeks. It's not exactly a "grand" life, but I do own my home free and clear. Both vehicle loans will be paid off in two years and the 4x4s should last another 10 years with proper maintenance. One of my kids is off the nest and very successful. The other two fit the mold of video game/TV watching slackers who are barely capable of getting a job as a Walmart greeter. Very discouraging.
I'm 58. I bought my first home for $19,500, after renting it for 6 months while I came up with the $1000 down.
How can anyone, starting out, come up with the real funds to get an honest loan? And then be able to afford a $500K home. The property taxes in California, alone, are $5000 a year.
What I am complaining about are the people that buy, not to live in, but to resell for twice the price. To me, it's grand theft.