Millennials: Cheapest generation?

[Allthingsspectacular]

http://www.theatlantic.com/magazine/archive/2012/09/the-cheapest-generation/309060/?single_page=true

What do you think about this? Do you think it is true?

I personally think it is true. The millennial generation, growing up with the rise of the internet, began to see the worthlessness of class symbols and really only focusing on things they need from a practical standpoint.

At least that's how I see it.

I know most people will immediately jump to the "It's a recession" idea, but I do think there's a perception shift as well.

What do you think?

 

[Keoul]

Oh god that's a long read.
I admit I only got through about half way but I get the gist of the idea. The ideas seem true enough, gen y is a pretty "cheap" generation that's for sure, I've had several lunches with people screaming out 'I can't pay! it's too expensive!" for a 5-7 dollar meal.

I personally think it is true. The millennial generation, growing up with the rise of the internet, began to see the worthlessness of class symbols and really only focusing on things they need from a practical standpoint.

I don't think it's due to the practicality, just the urge to save money. At a guess I'd say they want the car, but it's too expensive to purchase one, so this being the cheapest to permanently renting a car (which you could show-off to your mates) would be quite appealing to them.
Then again they could just be doing it cause there's no room to keep their car seeing as barely any of them are buying houses.

 

[Dags90]

I think it's silly to not suggest that a recession can't lead to different priorities long term. My sister and her husband had to get out from their awful mortgage after the value of their house plummeted, so they started renting a row house. Now they've realized that they kind of hate the upkeep a house requires. So long term, they're looking at some form of condo they can own, but that comes with inclusive maintenance.

I think it's a bit easy to fall in the trap of flattering one's generation. Most of the people I know in my generation who have a smartphone, including myself, don't need a smartphone. I don't have to, and aspire to never need to respond to a work e-mail during travel or at home.