One of the problems is that twenty-somethings are suckered into believing they have to purchase a house.
Money should be saved so that when they are 40, they can invest that money either in their own business, or purchasing something like rental properties that can generate income. Because by that age, you simply cannot rely on working for somebody else anymore.
After working in the same shop for 28 years, one day he went to work and the company was closed up...none of the employee's were notified and all lost their pensions...
My husband got him a job through a friend as a janitor in the school system for minimum wage and he was grateful for the job....today no one would consider taking such a job at his age. He had been foreman for years at the shop....(that is until we had the Obama economy kick in....
Our first home we had to have 25% down. Not zero and didn't take equity out like many have done.....