There's nothing wrong with encouraging young people to build wealth. However, as we saw in '08, the housing market is a less sure bet of wealth than was previou

There's nothing wrong with encouraging young people to build wealth. However, as we saw in '08, the housing market is a less sure bet of wealth than was previously thought - not to mention changing climates make the value of some properties highly questionable (rising coastlines - maybe? How fast?) Further, young working people frequently move from city to city to even a new country every couple of years, and quite casually (the kind who could, in theory, afford to purchase a property in New York, who are a very small percentage indeed). So OK, I purchase a property in New York. But my job now calls me to San Francisco. I have to manage that condo (Maybe I'll Airbnb?) in addition to paying a new equally pricey payment of rent in SF. And because of my demanding work schedule at a tech company, I won't be able to physically check on my property very often. I might have to hire someone to do it for me. Oh no - I now also have to have both home owner's AND renter's insurance. And next year I have to work for 6 months in Berlin, so I'm going to have to find someone to sublet from my 1-year lease in San Francisco... I'm now spending all my free time just trying to manage 3 properties instead of trying to build my own company/find a mate/obtain a higher degree.