For Gen Y, renting sounds great – but try finding an affordable place

It’s a tough time to be a renter. I was rejected – and yes, I’m feeling pretty sorry for myself.

After searching for a bigger apartment on and off for the better part of a year, my partner Don and I finally put in an application for a place we liked. We have excellent credit scores, steady jobs and good references. We were confident the landlords would choose us. Why wouldn’t they?

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Generation Y And Home Ownership: A Generation Of Renters, But Not By Choice

Sociologists couldn’t do better than Bram Warshafsky, 23, as a model for the attitude shift toward home ownership that they have long predicted for his generation.

Raised in a four-bedroom house in an upper-middle-class neighbourhood in midtown Toronto, Warshafsky, the second of four boys, appreciated having enough space in the backyard to play catch. But after he finished his commerce degree at Queen’s University in 2010, moved back in with his parents and landed a job with Johnson & Johnson’s marketing division, he couldn’t justify a jump into the real estate market. He has since become what he describes as a “passionate renter.”

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