Tomorrow, Derek Thompson and Jordan Weissman from The Atlantic join us to discuss their article The Cheapest Generation.
The Millennials have been called “the screwed generation” by Newsweek. The Atlantic article could have taken a similar angle, arguing that poor Gen Y can’t afford to buy a house or car. Instead, Weissman and Thompson posit that maybe young adults just don’t want to spend money on those big-ticket items.
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.
If you are a young adult, what do you think of the argument? Have you lost interest in buying a home or car?
-Stephanie Curtis, social media host