When it comes to renting vs. buying, you might separate Gen Yinto two categories: those who seek spontaneity and those who seekstability.

The spontaneous bunch is more likely to rent. All about theexperience, these Gen Yers are the types who will take aninternship in a new city and search for a roommate on Craigslistwith no hesitation. They may change jobs or living situationsfrequently and feel it's important to keep their options open, justin case something better comes along.

The stable crowd loves the idea of nesting and settling down.Some began working toward that goal when they landed their firstjob.

Of course, there are pros and cons to each path. Some sayrenters are essentially flushing money down the toilet. Renting canalso lead to unexpected dilemmas. Roommates can abandon ship or getfired and rents can skyrocket out of the blue. Property owners maydecide to sell and kick the renter out on short notice. And thereare more restrictions in rentals, such as a no-pet policy.

Homebuyers purchase property with the idea that it will increasein value as time goes by, plus they can enjoy the control andfreedom that accompanies homeownership. But it's also a commitmentthat some Gen Yers don't want on their hands.

CUs play an increasingly rich role in the housing market.According to Callahan & Associates, more than 3,500 creditunions originated $84.5 billion in first-mortgage loans to 510,000members in 2010, not including loans originated by CUSOs orcorrespondent and referral programs. CUs can benefit further bymarketing their mortgage products to Gen Y members who are insearch of their first home.

Gen Y's homebuyers may have a lot of questions, so answer them.Provide house hunting tips and a clear explanation of each step ofthe home buying process on your website.

Make it easy for members to check rates, apply for a mortgageand check the status of their loan online. Show them the benefitsof refinancing an existing mortgage. Reassure them that if theystill have questions, they can pick up the phone and ask or make anappointment to meet with a CU representative in a branch.

And don't forget to utilize your social networking and mobiletools. A mobile platform that members can use to get started on amortgage application or browse rates is likely to grab theattention of Gen Y. Sharing home buying tips or advertising yourmortgage lending program on Facebook or Twitter is also sure topique interest.

Gen Y might be fickle sometimes, but for many of them, theAmerican dream is still alive. Embrace it.