U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 06-16-2019, 02:17 PM
 
2,729 posts, read 1,747,774 times
Reputation: 5962

Advertisements

I should have been more specific, that yes, millennials who got married waited longer for kids. I can’t imagine those births with people you’re not married to work out well for wealth building.
Reply With Quote Quick reply to this message

 
Old 06-16-2019, 09:13 PM
 
1,043 posts, read 217,464 times
Reputation: 1572
Quote:
Originally Posted by Lycanmaster View Post

Simply put, the Millenial generation is FAR poorer and indebted to sustain our current living standards...

And many older Millennials who went through the hard times of The Great Recession are not all about consumerism. They had to live frugally during these times and realize you can have a good living without the nicest cars and homes.
Reply With Quote Quick reply to this message
 
Old 06-16-2019, 10:26 PM
 
Location: Oregon, formerly Texas
5,446 posts, read 3,754,329 times
Reputation: 9252
I'm in my mid 30s as an older millennial.

There is a HUGE difference in shopping culture between us and older ages. For people my parents age and older, they have so much crap in their houses it's unbelievable. I can't fathom how much money they spent on knick-knacky crap throughout their lives. No millennial wants that stuff; it's no wonder retailers are dying off.

Millennials will spend a hell of a lot on experiences, though. Concerts, music, art, whatever festivals, sports, eating out, even small daily things like coffee. They love food trucks, coffee live music, craft beer, preferably all in close proximity.
Reply With Quote Quick reply to this message
 
Old 06-16-2019, 10:50 PM
 
Location: Buckeye, AZ
27,283 posts, read 15,758,543 times
Reputation: 9858
Quote:
Originally Posted by Mircea View Post
There's no evidence to support that claim. After all, there are 79 Million in Generation Y.



Boomers were raised in a concrete world. Material things are important to them.

Millennials were raised in the virtual world of the Internet.

It doesn't take a PhD in Sociology to figure it out, so how dumb is Corporate America?



Actually, it's 8.7% who earn $100,000 or more.

The mean income is over $50,000 which squares nicely with your median of $60,000, so it's not like wages aren't rising or people are being underpaid.



Boomers didn't have Internet in their 20s.

It doesn't require a PhD in Sociology to figure it out.



That's demonstrably false.

While Millennials may not be marrying, they are having out-of-wedlock births.

The rate is 40% or 2 in 5 children are born bastards.

Studies show Millennials desire to cohabit for the experience, rather than marry. That has nothing to do with money and everything to do with view-point.

Also, note that cohabitation is not conducive to home-buying.



That's about to end.

I have no doubt that you will tie the historic record of 120-months expansion in August and set a new historic record of 121 months of economic expansion in August.

But it won't last much longer than that. The most likely chance of recession is 1st or 2nd QTR 2020.

I know that's not what Republicans want to hear, because that automatically gives the Democrats the White House, but that's just how the cards fall.

Past performance doesn't mean much in Economics, but the last two historic expansions ended with double-dip recessions. That does make it more than possible you'll have that here.

The recessions after the 106-month expansion were severe, but after the 120-month they were rather mild. Tame even. So, it's anyone's guess as to whether the next recession will be severe or mild or in-between. A lot will be riding on what actually causes the recession.



But, of course!

The Media has an agenda.

"Your life sucks and only Democrats can save it."

That's the message.



But, why would they?

Generation Y grew up knowing only technology and their entire lives revolve around it.

That's not even remotely true of Boomers.

The global environments the two groups were raised and came of age in are literally worlds apart.

Generation Y never ducked and covered. Boomers did. Generation Y didn't have to contend with the Draft and Vietnam. Generation Y never saw the social unrest and racial strife Boomers did.

It would be stupid to even suggest they might think the same or hold the same values.
I wouldn't say that. About half of the millennials had a world pre AOL and before cell phones replaced pay phones. I mean anyone who is 25 or so would remember collect calls and phone cards as an "Oh yeah." Video games were there, sure. But it was a different thing than what it would turn into with X-Box and beyond. Before X-Box, at most you would have 6 man battle royal games. I think more or less millennials have less not because of wants versus needs but out of limiting factors. How can you get a big car when you can only afford a sedan?

Generation Y isn't marrying for a number of reasons, namely many were products of divorce and the fact that marriage is more religious than law based and millennials are more agnostic on a whole. For instance my sister(-in-law) is Jewish yet I only see her be religious on holy days and her marriage contract while my brother I think last went to Catholic Church for a wedding. Marriage only has a few benefits for tax purpose and survivorship that if they cohabitate long enough, they could be married common law anyway.

I saw a number of the economic experts whom are now saying that the economy is in a tight spot, three years ago we would be in a recession should things stay the same. Trump besides tariffs is simply Obama on steroids when it comes economics. I think many of those economists are bias tho their party of choice because the signs agree still here, but they simply now use a different metric to say we are not.

Generation Y don't know racial strife and social unrest. Are you for real or is your head in the sand? Generation Y and Z are both going through social unrest with the issues of abortion heartbeat bans, Black Lives Matter, the reemergence of the women's equality movement and the constant fight for gay rights that the conservative right wants to chip away with because they think they are sinners. Generation Y don't hold the same values because they see despite the racial strife that happened when boomers were coming of age, the issues never got settled or people who want it returned to where it was before.
Reply With Quote Quick reply to this message
 
Old 06-17-2019, 01:26 AM
 
Location: Portugal
5,917 posts, read 2,883,413 times
Reputation: 11303
Quote:
Originally Posted by Thatsright19 View Post
By the top 20 percent, I mean those that are actually sought after by employers. In that they have stability in life and the ability to go most anywhere in the country with their family. In other words, they have options. Go and read the work and employment forum and you’ll see how the general population feels about THEIR options.
So people who must live near a place of employment are screwed? It's been that way forever. One doesn't need to be 20% of anything to have stability in life.
Reply With Quote Quick reply to this message
 
Old 06-17-2019, 01:33 AM
 
Location: Portugal
5,917 posts, read 2,883,413 times
Reputation: 11303
Quote:
Originally Posted by charolastra00 View Post
"Average" people aren't able to make it in many metro areas. Unfortunately, these are the metro areas with best job prospects. Forget vacations, we can't even afford a modest house or kids.
What is your job where you can't move to a less expensive metro area?
Reply With Quote Quick reply to this message
 
Old 06-17-2019, 09:50 AM
 
Location: Camberville
12,004 posts, read 16,753,802 times
Reputation: 19709
Quote:
Originally Posted by lieqiang View Post
What is your job where you can't move to a less expensive metro area?
I work in a fairly niche industry working in digital strategy, trying to move into another niche but more lucrative industry. It's not so much of a matter of can't move, but more of a matter of finding a job that will hire me knowing I would have to move. I've had interviews in other states, including one that almost panned out in much-cheaper Syracuse, but all have gone with a local candidate in the end. While the economy seems to be doing well, I'm not the only one of my peers living in Massachusetts trying to leave but coming up empty on employers who will hire us from far away.

I can't leave my job without another one lined up because as a young adult cancer survivor with some manageable health issues, a good way of wiping out everything I've worked hard to build would be moving without a stable job with insurance lined up. I'm also limited to being close to major metro areas so I have access to appropriate healthcare.
Reply With Quote Quick reply to this message
 
Old 06-17-2019, 12:04 PM
 
25,966 posts, read 32,962,923 times
Reputation: 32145
Quote:
Originally Posted by heart84 View Post
And many older Millennials who went through the hard times of The Great Recession are not all about consumerism. They had to live frugally during these times and realize you can have a good living without the nicest cars and homes.
“The hard times of the Great Recession”??


LOL.
Reply With Quote Quick reply to this message
 
Old 06-17-2019, 12:05 PM
 
Location: Amelia Island
2,974 posts, read 3,954,136 times
Reputation: 3088
Reading through these posts is exhausting but entertaining at the same time...……...a lot of great insight on these posts.

It is not that corporate America is unable to rely on millennials, it is because they did not anticipate technology and innovations screaming pace and position themselves accordingly.


Sears had all their goods categorized and cataloged. How easy would it have been for them to venture to online sales ahead of Amazon?


Blockbuster brushed Netflix off. Who won that one?


Garmin (GPS) and Sony (pocket cameras) got taken to the mat with the innovation of cell phones.


Same with the music industry...….how many of those CD pockets do you see attached to the cars sun visors anymore?


You could go on and on. Companies like Harley Davidson put all their eggs in the Baby Boomer basket like many company's did and we Boomers are fading away and taking their sales with them.


Boomers loved the suburbs, millennials love the urban areas.


McDonalds was king when there were only a few fast food choices. Today in any busy city you will have at least ten fast food choices.


You never had parking spaces reserved for takeout pickup along with grocery and restaurant delivery to your house at the quantity you are seeing now.


Pre packaged meal services are advertising hard, is that the next trend?


The younger generations love technology and the fascination of what can be communicated through those phones.


Corporate America needs to change their business models to reflect the rapid shifting of the consumer market due to technology and innovation. My three cents.
Reply With Quote Quick reply to this message
 
Old 06-17-2019, 12:19 PM
 
2,729 posts, read 1,747,774 times
Reputation: 5962
Quote:
Originally Posted by ChessieMom View Post
“The hard times of the Great Recession”??


LOL.

What part of that is funny?
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top