This is an annoying trend. I am not sure which generation I technically fall into as I am in my late 20s, and technically Gen Y, but my ideals and things match up more with Gen X, so it comes down to defining generations as strictly an age or is how you comport yourself? But anyways, my wife is definitely Gen Y (We're the same age), and she constantly complains about not feeling like an adult and not being about to handle adult responsibilities. Personally I've been mature since I was 12 (Rough childhood), and have known how to wash clothes, sew, cook, build furniture, wire electrical system, work on a car, and manage my time well enough to get straight As in school since then. Not that I have needed all those skills when I was 12, but being independent and not trusting my parents to provide for me, I taught myself. I still struggle with some things, that is just human nature, but I don't dwell on what I can't do. I just put on my big person underwear and trudge through until I get it done. I think that is a lot of what is missing in Gen Y. I owned a house in my early 20s, but its not for me right now as I move around a lot with jobs. I haven't lived with my parents since I left high school and I only call them to let them know what I am doing, not to ask them for advice. Not to say my parents aren't successful or whatever, but they are stuck in the south where thinking is a bit backwards to say the least and we differ ideologically on how to handle situations. I know most of my peers in America struggle very hard with this (I think it applies to most of western culture), but I have friends in other countries who are mature and don't struggle with this. A lot of it is that their country requires military service at 18 or 22 (Depending on if you go to college), but I also think they just aren't raised in a codling environment like much of Gen Y was.
The work ethic of Gen Y is at an immature level. You feel like you're talking with a 12 year old and can generally expect the same level of response in return. Life has become too easy for this generation so they feel the work environment should also be the same: easy.