The Cheapest Generation

[Arwon]

I wouldn't call it "hard," very few of them will be waking up before dawn to trudge out into the fields and do manual labor for 12 hours a day. There aren't any hoovervilles being set up, and none seem tol lack for smart phones or X-boxes.

Just to be clear, the last generation didn't have a hard life either.

Relative to the boomers and their one off generational jackpot yeah, kids today have it harder. But then so does everyone else in history.

 

[Arwon]

Also I think you can test the culture or economics hypothesis by looking at Australian millennials compared to Americans. If we are still getting big houses and cars then perhaps it is more economic in the US.

 

[ELITEOFWARMAN8]

I wouldn't call it "hard," very few of them will be waking up before dawn to trudge out into the fields and do manual labor for 12 hours a day. There aren't any hoovervilles being set up, and none seem tol lack for smart phones or X-boxes.

Just to be clear, the last generation didn't have a hard life either.

And, what's your point?

The article is making an assumption that just because old consumer habits are being abandoned that new ones are not being taken up. It alludes to it a bit at one point, that physical processions may simply be replaced by other forms. How much does a modern twenty something spend on electronics/phones/video games/gadgets/etc. than twenty years ago?



Wait, you think millennials have a hard life?

Um... yes.

I am a millennial, and I (like pretty much anyone) have had to deal with my share of financial issues. That's called life. But not a hard life.

Then I guess you well off financially and not in a crap load of debt then. Correct me if I am wrong please.

 

[JollyRoger]

It appears that the secret to success for the millenials is to abandon the free market and get a government job.

 

[uppi]

Over here car sharing is on the rise. You sign up for a service that provides cars parked all over the city. On those occasions when you need a car you take one of these and pay for the time/distance you are using it. For infrequent users this is way cheaper than maintaining a car themselves.

The success of these services tell, that there is a growing part of the population that doesn't need or want to own a car. And I'd say more than 80% of my colleagues do not own a car.

For houses it is even worse: If you expect having to relocate frequently because of your job, there is no point in buying a house. The only young people I know who bought a house have a government job (or a government job in the private sector).

As student debt is typically quite small (although it seems to be increasing slightly) and the economy has been doing quite well in the last years, I don't think economic factors are the reasons.

 

[ELITEOFWARMAN8]

It appears that the secret to success for the millenials is to abandon the free market and get a government job.

Hey, that's my goal! But you don't know how many baby boomers I knew that wanted exactly that to... and got it.

Over here car sharing is on the rise. You sign up for a service that provides cars parked all over the city. On those occasions when you need a car you take one of these and pay for the time/distance you are using it. For infrequent users this is way cheaper than maintaining a car themselves.

The success of these services tell, that there is a growing part of the population that doesn't need or want to own a car. And I'd say more than 80% of my colleagues do not own a car.

For houses it is even worse: If you expect having to relocate frequently because of your job, there is no point in buying a house. The only young people I know who bought a house have a government job (or a government job in the private sector).

As student debt is typically quite small (although it seems to be increasing slightly) and the economy has been doing quite well in the last years, I don't think economic factors are the reasons.

Erm... What? Having 30k-75K in student debt is not small nor is the job market any good. Where do you live at? Granted, I don't have any student debt at the moment, I will when I go to 4 year university next year. Since it will be a state school and I will only be there 2, 2 1/2 years at most to finish, I will only have roughly 20K-25K, which is high but not as bad as some of my older friends who have 40K-50K already.

 

[Dachs]

Where do you live at?

uppi lives in Germany.

 

[ELITEOFWARMAN8]

Cool.... Well, those Germans was always good at business stuff from what I hear .

 

[luiz]

Sad to hear that, bro. But being a free man once more comes with its own perks!

Thanks. I am still feeling quite bad now, but think I'll be alright soon.

 

[downtown]

Thanks. I am still feeling quite bad now, but think I'll be alright soon.

Yeah, my condolences Luiz. Breakups are always tough, especially after you've been dating for a long time.

 

[mangxema]

Here is the general thesis: Americans 18-35 are going to be much less likely to buy a new car or a house. Part of this is for economic reasons (high student debt has ruined credit, and poor economic opportunities leave the generation without the funds to buy them), and partly for philosophical ones. They argue that the sheen from home ownership or a new car that our parents felt isn't shared by younger Americans. We'd rather share a car and get a smartphone.

I personally am in pretty good shape financially--still have debts, but they are entirely manageable--but even still, I have to say that I agree with this. I would like to not need a car, but I doubt that I will ever be able to pull that off. And I really don't want to be tied down to a house.

Given that the US economy has relied on home ownership, and the blue-collar manufacturing jobs that come from construction and home and car related consumption, this could have negative impacts on economic development moving forward. It could also have positive impacts (environmentally, and with urban issues)

I don't think the home ownership issue is permanent. It's been noted that people have been delaying big decisions like getting married and having kids, and if you don't have these--particularly if you don't have them because of financial worries--there's no real need to have a house.

 

[PlutonianEmpire]

Well, this thread certainly made me realize why civil rights are going down the crapper. The old people, who prefer the absolute status quo over even the most trivial of changes, and are the ones who still have all the power, will do anything they can to suppress us, and it seems to be working, based on what I'm hearing on the news these days.

 

[Core Imposter]

Well, this thread certainly made me realize why civil rights are going down the crapper. The old people, who prefer the absolute status quo over even the most trivial of changes, and are the ones who still have all the power, will do anything they can to suppress us, and it seems to be working, based on what I'm hearing on the news these days.

Its your job to work and pay my social security so shut up and do it.

 

[Core Imposter]

And if you don't want to, you'll have to vote Romney/Ryan.

Ah, the irony.

 

[PlutonianEmpire]

Its your job to work and pay my social security so shut up and do it.

I would rather die than be your, or anyone else's slave, Mr. Bourgeois.

I mean that.


Considering all the defects I have, whoever builds a perfect, master race of some sort should have no problem wacking me.

And hey, you still get to be a slave owner, with a whole bunch of other people inhabiting this planet for you to enslave.

Win-win for both of us.

 

[Valka D'Ur]

I do feel that a lot of my friends (and I) wouldn't feel comfortable in a house with a white picket fence and 2.5 kids.

White picket fences are overrated. They require too much maintenance. Same with kids. But I really miss having my house.

I would like to see anybody of any generation in any country buy a new house or a new car at age 18. What a useless thing to say IMO. I think those purchases are only feasible in the late 20s, unless your funded by JollyRoger's sugar.

It is possible for an 18-year-old Canadian to buy a new house/car... IF they manage to win the weekly Lotto Max. It's legal for 18-year-olds to play the lottery, and lottery winnings are tax-free.

 

[Cutlass]

And if you don't want to, you'll have to vote Romney/Ryan.

Ah, the irony.

No then you'll just have to work twice as hard for less pay and know that there is no retirement at the end of it. You'll work until the day you can't anymore and then spend the rest of your life homeless or living on the charity of others.

 

[Save_Ferris]

Yeah, right now the biggest group buying new cars and houses are baby boomers. The next 20 years will be interesting, to say the least.

 

[SS-18 ICBM]

Here is the general thesis: Americans 18-35 are going to be much less likely to buy a new car or a house.

Good. It's about time you Americans got over your over-emphasis on automobiles. As for houses, I never did get the appeal of a large house with a similarly large yard.

 

[Ailedhoo]

Its your job to work and pay my social security so shut up and do it.

And its your job to learn some manners kid.

Note: the best thing to do when MisterCooper is around is to ignore his posts. He gives nothing to a discussion. I am only breaking this new advice to make a point.