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my generation IS lazy, i'm 24 and I have a whole group of friends who work at dead end jobs, blow their money on alcohol, hair products and clothes, and then anytime i come around they're suddenly broke or need to go somewhere.
they have apartments, but they're late on rent, they have cell phones but they're off all the time. i came to this realization when i sold one of them a laptop on a payment plan and was told "you shoulda checked my credit before you agreed to it" (needless to say that laptop is back in my possession)
one guy has a firebird that got broken into, a beautiful black car, the glass T top was smashed in and the gear shift was messed up. he's going to let it lapse payments and let them repo it.
I see deflationary effects throughout America and this is a product of getting out in the real world after having $$'s in student loans, only to make a low hourly wage. It's being repeated over and over and over again throughout our country and probably won't get any better.
The student loan issue was one I forgot to touch on in my post. Gen Y is one of the most "educated" generations. They have been told from day one that college and higher education is the only path to success and they have gone into big time debt in order to earn that all important degree in philosophy, history, etc.
As we become more ingrained with higher education being the only path to success we have flooded our colleges and university's with more and more students, which causes them to build and hire more staff to stay competitive which forces them to raise tuition rates. Add on to it that many businesses are REQUIRING a four year degree for even entry level work (probably do to a HR culture dominated by those same philosophy/histroy majors, lol) and we have a recipe for disaster.
Kids are coming out of college with generalized degrees that they have taken out $40k+ in loans to get. Those degrees qualify them for enty level jobs in the $25k - $35k range, where their take home pay is barely enough to live on let alone pay down their loans and buy cars.
It's no mystery to me why people are putting off marriage, having kids and buying homes until they are in their 30's. They simply need the time to climb out of debt and move far enough forward in their career to be able to afford the "normal" suburban lifestyle. Every dollar spent on a non-necessity makes them another dollar away from getting their heads above water.
As for the caring about the environment part, well that seems like a nice readily available statement to make instead of I really want a new M3, but I'm flat broke.
The student loan issue was one I forgot to touch on in my post. Gen Y is one of the most "educated" generations. They have been told from day one that college and higher education is the only path to success and they have gone into big time debt in order to earn that all important degree in philosophy, history, etc.
As we become more ingrained with higher education being the only path to success we have flooded our colleges and university's with more and more students, which causes them to build and hire more staff to stay competitive which forces them to raise tuition rates. Add on to it that many businesses are REQUIRING a four year degree for even entry level work (probably do to a HR culture dominated by those same philosophy/histroy majors, lol) and we have a recipe for disaster.
Kids are coming out of college with generalized degrees that they have taken out $40k+ in loans to get. Those degrees qualify them for enty level jobs in the $25k - $35k range, where their take home pay is barely enough to live on let alone pay down their loans and buy cars.
It's no mystery to me why people are putting off marriage, having kids and buying homes until they are in their 30's. They simply need the time to climb out of debt and move far enough forward in their career to be able to afford the "normal" suburban lifestyle. Every dollar spent on a non-necessity makes them another dollar away from getting their heads above water.
As for the caring about the environment part, well that seems like a nice readily available statement to make instead of I really want a new M3, but I'm flat broke.
While I agree somewhat I think our economic situation might also play into that a little bit. With the move away from manufacturing we've lost a lot of jobs here in the States and more folks are competing for the office type jobs. In an effort to "one up" themselves more and more are going to college.
I remember reading an article about someone who was a chemical engineer, and jobs in manufacturing actually paid more than one requiring the use of their degree.
Also there are certainly jobs that don't require or need a degree, but you will be working a lot harder. My job doesn't require a degree but I woke up at 5:50 AM for a 6:30 AM van ride and didn't get off duty until around 10:30 PM. My guess is most people would balk at such working conditions. They want 8-5 in an air conditioned office with an hour lunch. I ate my lunch while on the clock and working.
I know a 19-year-old who is in college and does not drive, as in has no license, despite having a year-old SUV parked at the parents' house that was a gift from the grandparents for high school graduation. This person take mass transit or gets rides from friends, taxis, parents, even siblings, but the X3 sits unused in a garage because there is no real incentive to drive as "someone else will do it."
One of these days, said person will wake up and realize the freedom that driving offers, especially since they already own a car. I just
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~William Shakespeare (As You Like It Act II, Scene VII)
While I agree somewhat I think our economic situation might also play into that a little bit. With the move away from manufacturing we've lost a lot of jobs here in the States and more folks are competing for the office type jobs. In an effort to "one up" themselves more and more are going to college.
I remember reading an article about someone who was a chemical engineer, and jobs in manufacturing actually paid more than one requiring the use of their degree.
Also there are certainly jobs that don't require or need a degree, but you will be working a lot harder. My job doesn't require a degree but I woke up at 5:50 AM for a 6:30 AM van ride and didn't get off duty until around 10:30 PM. My guess is most people would balk at such working conditions. They want 8-5 in an air conditioned office with an hour lunch. I ate my lunch while on the clock and working.
I don't disagree with you on the "one upping", but I think we have hit the point where it has become ingrained. We have gone from the degree as an accomplishment to set yourself apart to the degree as a necessity in the work place. The irony is that the vast majority of jobs don't require a degree to do, yet the HR guru's use it as a way to sift through the herd. This in turn leads to more people getting degrees. Now, a BA/BS is so common place in most environments that the MBA has become what the BA used to be.
I personally have a degree from a very well respected school, but I am continually frustrated by having to pass over qualified candidates with experience that don't have a degree only to be left with a pack of morons with philosophy degrees and $50k in student loans competing for a clerks job at $14 an hour. One company I worked at was so bad they required a 4 year degree to work in a call center.
I guess what I am ultimately getting at is that we need to alter our thinking in terms of education and go back to encouraging the trades and telling people it's OK not to go to college. Heck, mechanics, electricians and plumbers are in demand and easily make more than most college grads. It's just this mentality that if you don't have a degree your a failure. Parents seem to be proud to say that Little Johnny is off at state earning a history degree at $15k a year, but they would be mortified to say that Little Johnny decided to go to trade school and become a diesel mechanic, despite the fact "Diesel Johnny" will make double what "History Johnny" will out of school and most likely will the rest of his life.
I think the biggest cause of the statistic is that 20-somethings aren't buying cars as often as the older generations. All the young people I know have cars, but they're not buying every 2-3 years like the 40-somethings I know. They still have that 10-year-old Honda that got them through college, and as long as it doesn't cost them too much to keep running, they're going to drive it to the ground.
Personally, I won't be buying a new car until after I buy a house, but to me, that's just common sense.
My ex-wife (lives in another state with her new husband) said our 19 year old daughter has never felt the desire to even learn how to drive. She's now at a small college living on campus. This seems odd to me. I wanted to learn how to drive before I was a teenager. My dad helped me to get my first piece of **** clunker car and at the time I loved it because it gave me freedom. I babied that car with weekly detailing even into the engine compartment, inside the door frame, and trunk. I did live without a car from 1991 to 1996 while in the Navy stationed on a ship. The bus schedule in Norfolk was easy to get around. When stationed in Gaeta, Italy, I either walked (which was fun) or took a cab/bus. Once I got stationed on a shore base instead of a ship, it was in Ingleside, TX. Had to get a car to get around again in 1996. If the reason why they don't drive is because of the availability of good public transportation, then that's fine. If it's laziness then that's going to be a problem.
I agree my generation gen X who is going into 30's and 40's are either buying homes and paying off mortgages and raising a family and are driving used or late model cars/trucks and they don't trade up every 3-4 years but rather 5-7 years and choose to make the cars last longer as long as it is just basic stuff and nothing major.
most of my friends have still their toys but that was from 4-5 years ago when the economy was great now they keep the toys and also bought a practical car or truck for daily driving and save the toys for weekends and summers.
they would rather pay off the mortgage and pay off their credit card debt then take out a $40-$50K loan for a new car.
I agree my generation gen X who is going into 30's and 40's are either buying homes and paying off mortgages and raising a family and are driving used or late model cars/trucks and they don't trade up every 3-4 years but rather 5-7 years and choose to make the cars last longer as long as it is just basic stuff and nothing major.
most of my friends have still their toys but that was from 4-5 years ago when the economy was great now they keep the toys and also bought a practical car or truck for daily driving and save the toys for weekends and summers.
they would rather pay off the mortgage and pay off their credit card debt then take out a $40-$50K loan for a new car.
Yeah my dad, who generally bought new $30k-$40k cars every 5 years/100k miles, has kept his now for 7 and 160k+ on it. He "wants" a new one but realizes buying a new $45k SUV just isn't smart right now, and his Acura will probably go 250k at least.
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