Personally, i think your comments are a bit harsh and you tend to tar current homebuyers with the same brush. Sure, things were different 50 years ago when we bought our first homes and, like you said, most, if not all of us worked two jobs to get by. We were fortunate in that employment, part-time or whatever was easier than it is today what with employers reluctant to offer a guaranteed 40 hours. However, like today, we could not foresee where the financial markets were headed but we still stepped on the home ownership ladder. Young couples today are forced to take on the same financial risks that we took. Yes, I’d agree that some may not fully weigh the risks and plunge head first into house purchases but others take the risk in order to provide a decent home for their young families. This is hardly a reason to decline any sympathy for their predicament, they have no control over the financial markets. We can hardly compare apples for apples.
Just my thoughts on the matter.