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Sunday, 4th June 2023

Irish Born Chinese

How will "generation Y" handle the recession?

Created Monday, 13th October 2008, 11:52 by whykay
(NOTE: This is a migrated article from the old IBC blog)

Got this from Fusion View’s tweet. It’s an article called The generation facing its first recession. How will they cope? I have to say, I’ve grew up with hardly any toys when I was really, really young as my parents were in their early 20s and had alot of stuff to sort out in the restaurant and bills to pay. As I grew up, I noticed I was getting toys, okay, maybe some stuff I wished for never arrived on chrissie day, but I’ve mostly got what I wanted. I was lucky, still not as lucky as my younger brothers and cousins, and all those kids who definitely got what they want… and not just for chrissie day. Money is like loo paper I suppose for that generation. I’ve moved out to work in Dublin, rented in crap places, then was able to afford to move to nicer accommodations and now married to a wonderful guy who is very supportive since I gave up my work over a year ago to go back to college and now figuring what I am to do with myself. Although we are renting, which means no negative equity, and is a tremendous relief. We are looking for a place of our own, and it’ll be interesting the next 6 months to a year and see what happens with the property prices. I’m on the lucky side of the recession so far. Now I’m just waiting to see what comes out of this budget tomorrow from the Minister of Finance.

I am sure the younger generation who are attending college and are living at home don’t really feel the pinch (as in the article, the attitudes would probably be the same). I am certain that the kids that are living away from home are feeling the pinch though, rent, food, bills, college (not including going out). It’ll be interesting to see the IBCs point of view regarding the current credit crunch.