Saturday, August 25, 2012

The Cheapest Generation

Source: The Atlantic

Half of a typical family's budget goes to housing (mortgage payment) and transportation (car payments) today. But that trend is changing amongst the youngest generation. It’s highly possible that a perfect storm of economic and demographic factors—from high gas prices, to re-urbanization, to stagnating wages, to new technologies enabling a different kind of consumption—has fundamentally changed the game for Millennials. The largest generation in American history might never spend as lavishly as its parents did—nor on the same things. Since the end of World War II, new cars and suburban houses have powered the world’s largest economy and propelled our most impressive recoveries. Millennials may have lost interest in both.

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