A global recession is on the horizon - please read OP for mod warning

How does that work, considering they had to struggle themselves to get their home? Sure, some people were gifted their home through inheritance, but most people have to go through various struggles to get their place. Different eras have different problems. My parents had to deal with the gender discrimination against women working, along with a vary fragile economy, with various international crisis's, etc. My own generation went through the banking crash, various recessions, austerity, etc.

People are very quick to think that their generation faces something worse than past ones. It's rarely true.

Whereas, for myself and many of my friends of a similar age group (mid-40s), we don't want to own our own homes, and are perfectly content with renting for the rest of our lives. Some of us have owned houses previously, and want to avoid the headaches associated, or others will remain single, preferring the freedom of being a renter provides.

Not everyone wants to settle down, or have a family. There's a growing number of people in society wanting to avoid both. You want these things.. grand, but there's a market out there who don't. Personally, as a single male and who had a house in Ireland, I'll never do that again. Not in Ireland.

The country isn't overcrowded. Just the two main population centres are, with the heavy focus for investment going to the cities. Ireland is a relatively small country, which allows easy commuting when the infrastructure is in place, but the attitude was to see Dublin and Cork grow beyond what they should have, taking people, and resources away from the rest of the country.

While we do need a recession to take some steam off the economy, and to force unprofitable or unsustainable businesses/institutions to die off (to be replaced with something better if the actual market can support them), along with the government reining in it's spending impulses, we don't need any kind of new diaspora or large scale emigration (we continue to have a steady stream of emigration at all times, naturally). Simply do what countries like Japan have done with the tech'ing up of their economy to be operated with a "smaller" population, and to decrease this near constant encouragement of low-skilled immigration to support failing industries.

Oh, I know exactly where and how I'll be dealing with "retirement", and it's not in Ireland. As for my friends, they've done their due diligence preparing for their old age in differing ways. We all went through the banking crash and fully comprehend just how unreliable assurances are. Owning a property used to be the pinnace of securing the remainder of your life.. it's not anymore.

I never quite understand the need to dumb down or make situations so simplistic as to have them lose all meaning. In any case, your example doesn't really address the points I made, or add to your previous post. It's a shift in the narrative. However, the renter manages to use the monies dedicated towards the mortgage (and all those associated costs) towards other ventures, possibly generating greater value in the future. [never mind the scenario of those paying a mortgage but being unable to afford living in their own home without renting it out, and so continue renting all the same, until circumstances change]

As for being "right"... ahh.. Life is not fair. It's not supposed to be. I think people have embraced a lot of wishful thinking about what should be rather than what is.

No, it isn't. Nowhere have I suggested such a thing. I said how I felt on the matter, but I also referred to those staying in Ireland.

Grand.. You don't want to engage with what I wrote previously.. let's just let the discussion end.

My own experiences were.. difficult, and costly. I'm not going to go into this here.