They’re narcissistic. Apathetic. Pampered. And addicted to their four-inch screens.
If you believe the conventional wisdom about the millennial generation — those 16 to 34 years of age, by most calculations — you’ve got considerable reason to worry about the future of the U.S. economy. Millennials show far less interest in buying cars, homes and other big-ticket items than their parents did at the same age, which has generated an intense effort among companies that produce those things to crack the code of these crazy kids and figure out how to sell them stuff.
But the millennials may not be as mystifying as an army of sociologists makes them out to be. “Every generation eventually sheds their most extreme characteristics,” says Jason Dorsey of the Center for Generational Kinetics, a consulting firm in Austin, Texas. “What is different about millennials is delayed adulthood. They’re entering into many adult decisions later than ever before.” And the reason may be fairly straightforward: They don’t have much money. Not yet, anyway.
One of the biggest mysteries of millennials is why they seem to have little interest in cars, which have been an irresistible source of freedom and mobility for young people since the interstate highway system opened the whole country to Chevys and Mercurys in the 1950s. Yet millennials seem to scoff at the open road. The percentage of 16-to-24-year-olds with a driver’s license has dropped sharply since 1997, and is now below 70% for the first time since 1963. “Millennials are demonstrating significantly different lifestyle and transportation preferences than older generations,” declared a recent report by the U.S. Public Interest Group. Overall, it concluded, “the driving boom is over.”
(Excerpt) Read more at finance.yahoo.com ...
