From: Quartz
Why Americans care more about experiences than possessions
January 2, 2015
Quartz:
The signifiers of success used to be simple. Own a home (or two) and a car (or two) and voilà! You’ve achieved the American Dream. Ownership, however, is a complicated concept for an increasing number of Americans (this writer and her sister, included)—and not for all the reasons you might think.
Multiple studies and datasets have shown that millennials are not buying homes and they are not buying cars. In fact, they are not buying many big ticket items at all (save for their smartphones) in the way generations of the past have. This behavior has earned them the nickname Generation Rent and has businesses struggling to understand how to market to a demographic that is resistant to ownership. As with most trends among millennials, economic factors delaying major milestones (as well as, perhaps, a general fear of commitment) are cited as part of the issue.
Read the whole story: Quartz
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