We often hear of the plight of young people who are despairing of ever owning a home. We can’t blame them. It is not because they “don’t work hard enough.” Many of them, I’m sure, work longer hours than some of us in the boomer generation ever did. But we boomers grew up in very different economic times. We were riding the winds of a post-war boom that formed a very favorable backdrop for our economic lives.
The keys of a first home represent “adulthood” and the ultimate fulfillment of the American Dream. The milestone is celebrated with parties and social media high-fives. But what many younger people may not thoroughly understand is that a home is both a blessing and a burden.
