Mari Carmen 2: What happened to saving? (Luis Ventoso in El Debate)

The aspiration of owning a home, the driving force behind household saving for decades, has given way to a "enjoy the moment" culture where the long term is measured in days.

## The legacy of effort and ownership

Millions of Spaniards, shaped by the second half of the 20th century, grew up with the deeply rooted idea that sacrifice and saving were the direct path to ownership. It was not an abstract goal, but the tangible aim of acquiring a home, a symbol of security and pogre. Stories of emigration, such as that of the author's grandparents in **Puerto del Son** who moved to **Vigo** to make a living in fishing, or relatives who signed up on ships from A Coruña, illustrate this mindset. Those who risked their lives at sea, like the author's father, earned money to invest in flats, often several. Even those with less education or standout skills, like the cousin nicknamed **Valiente**, managed to build up wealth thanks to the foolproof formula of working and saving. His vvife, **Lela de Windsor**, supplemented their income as a cleaner, and together, without being the brightest, they came to own two flats. The maxim of the author's mother, nearly ninety, sums up this outlook: "If you have your own house, that's it. You'll always manage to eat." The insecurity of renting was a constant antiestéticar, and the atavistic sense of ownership, almost sacred, guided this generation's life decisions.

## The redefinition of "the long term"

The conception of time and saving has changed drastically. A recent survey asked a seemingly simple question: "What do you understand by the long term?" The winning answer, revealing a profound cultural shift, was just **90 days**. This contrasts radically with the "eight or ten years" perception someone from an earlier generation might have. We are immersed in a "carpe diem" society, where instant gratification trumps long-term planning. This paradigm shift shows up in family dynamics. The author's mother, recalling the purchase of two flats on **Rianxo** street in **A Coruña** with the aim of renting them out, tells how they had to sell them. The laws of the time, under the **Franco** regime, capped rent increases, making the investment lose profitability. This experience, far from that of a "vulture fund" or a "big landlord", was that of owners who saw the value of their effort eroded. Now, commenting on **Mari Carmen**'s case, the mother expresses a blunt opinion: "What can't be is wanting to become the owner of other people's property."

## The generational contrast and economic reality

The comparison between past and present generations, in terms of saving capacity and access to ownership, is complex and often oversimplified. While it is true that the mindset has shifted towards immediate enjoyment, there are also objective economic factors that make saving difficult for many. Today's salaries, compared with those of decades past, often do not allow the same level of sacrifice. Moreover, many expenses once considered luxuries are now practically mandatory to maintain an acceptable standard of living. The gap between wages and the stratospheric rise in housing prices, especially compared with the salaries of younger generations, is a considerable obstacle. Direct comparisons with the 1960s or even up to **1995** can be misleading, as the economic and social structure has undergone significant transformations. The aspiration of ownership, once achieved through effort and sacrifice, today faces a landscape of economic challenges and a culture that prioritises the present experience.