The iPod generation and the property ladder

Wealth Coach and founder of the Wealth Company, Gill Fielding, writes about major myths in the current UK property market today in her blog. The one that particularly caught my eye was the myth that ' young people can't get started on the property ladder'. Gill writes:

A think tank has done some research into what they call the iPod generation – our current 18 to 34 year olds, who apparently feel that they are saddled with debt from their student days, have no job security and no hope of ever getting on the property ladder. On the other hand, says the research, this may be because they spend their 20’s partying, chasing dreams and moving from job to job. One 27 year old (who was drinking a £9 cocktail as she spoke) earning £22k despaired of owning her own home but admitted to spending £30k in 5 years on drink, shoes, CD’s and other ‘non essentials’.

So it’s not that they can’t get on the property ladder – they just chose not to.

To read more from Gill, go to www.wealthcompany.com and click on 'Gill's Gems'.