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Hasn't the media been lamenting this exact behavior of millennials though? Houses would be bought previously, now more people are renting, vandwelling or just l

by ktta 9y ago

Hasn't the media been lamenting this exact behavior of millennials though? Houses would be bought previously, now more people are renting, vandwelling or just living with their parents. Less cars are being purchases because of people 'Ubering' everywhere. People rent more stuff thereby slowing down many industries. The future looks glum for many of them (especially the diamond industry) Student loan was shown to be the primary deterrent. Of course what wasn't to blame was that the disparity between median wage and comfortable life is growing. Another thing they fail to attribute this to is that millennials are smarter, avoiding the spendthrift mistakes like large mortgages which tie them down to a place and make them paycheck away from homelessness. source: Just google 'Millennials aren't buying <insert anything here>'

samhain 9y ago
I tried this, and one of the top business insider articles has a similar perspective as your comment here, blaming the baby boomers. http://www.businessinsider.com/baby-boomers-caused-millennials-destructive-spending-habits-2017-6 http://www.businessinsider.com/baby-boomers-caused-millennia...
- ktta 9y ago
  (I kinda went offtopic but I think it is worth telling) That article seems to be overreaching about what's 'killing' industries a little bit. The industry that's really in trouble is the diamond industry. That industry wasn't mentioned anywhere except a tweet which was dismissed[1] There are downsides (apart from being expensive of course) like forced labor in Botswana, etc. Even if they are specifically advertised as not Blood Diamonds, people just want to get away from that industry. Mossanite is an alternative that is getting popular. This might seem like a very small thing to care about, but I'll say it has wide ranging ripple effects. Millions of people depend on the unreasonable margin that diamonds provide, ranging from specialists to the stores that litter every single town because of course, people had to have a diamond shop. That was more important, than say, a blood bank. On first look, it might not seem economically feasible, but just the absurd lengths people go through to pay for that one diamond keeps the industry alive -- and thriving. Culture is the only thing to blame (or thank) On the flip side of the unemployment that will be caused in developed countries, you have to consider the sheer amount of labor that is put (or forced) in Africa. Because of the value of diamonds, many were forced into labor and that will hopefully go down. [1]:https://twitter.com/UweBollocks/status/748679268599758848 https://twitter.com/UweBollocks/status/748679268599758848 - this tweet was embedded in the article. Shame that it wasn't talked about in detail PS: I'd recommend the movie Blood Diamond http://www.imdb.com/title/tt0450259/ http://www.imdb.com/title/tt0450259/

by ktta 9y ago

samhain 9y ago

I tried this, and one of the top business insider articles has a similar perspective as your comment here, blaming the baby boomers. http://www.businessinsider.com/baby-boomers-caused-millennials-destructive-spending-habits-2017-6 http://www.businessinsider.com/baby-boomers-caused-millennia...

ktta 9y ago
(I kinda went offtopic but I think it is worth telling) That article seems to be overreaching about what's 'killing' industries a little bit. The industry that's really in trouble is the diamond industry. That industry wasn't mentioned anywhere except a tweet which was dismissed[1] There are downsides (apart from being expensive of course) like forced labor in Botswana, etc. Even if they are specifically advertised as not Blood Diamonds, people just want to get away from that industry. Mossanite is an alternative that is getting popular. This might seem like a very small thing to care about, but I'll say it has wide ranging ripple effects. Millions of people depend on the unreasonable margin that diamonds provide, ranging from specialists to the stores that litter every single town because of course, people had to have a diamond shop. That was more important, than say, a blood bank. On first look, it might not seem economically feasible, but just the absurd lengths people go through to pay for that one diamond keeps the industry alive -- and thriving. Culture is the only thing to blame (or thank) On the flip side of the unemployment that will be caused in developed countries, you have to consider the sheer amount of labor that is put (or forced) in Africa. Because of the value of diamonds, many were forced into labor and that will hopefully go down. [1]:https://twitter.com/UweBollocks/status/748679268599758848 https://twitter.com/UweBollocks/status/748679268599758848 - this tweet was embedded in the article. Shame that it wasn't talked about in detail PS: I'd recommend the movie Blood Diamond http://www.imdb.com/title/tt0450259/ http://www.imdb.com/title/tt0450259/