Generation Y is Cheap?!

Just a silly meme. This does not reflect my political standings! Or does it?

I find it amusing when the older generation tries to debunk us youngin's mysterious behaviour using expert analysis, advanced statistics and marketing alogrithms. Take the recent article, The Cheapest Generation, for example.

 In 2010, adults between the ages of 21 and 34 bought just 27 percent of all new vehicles sold in America, down from the peak of 38 percent in 1985. Miles driven are down, too. 

And because of this, the author labels the milleniums as cheap.

Hmmm.



I don't think it's us being cheap, it's us not being able to afford it. Unemployment rate for us in America is almost 13% and that's not including the 1.75 million people that have dropped out of the labour market (because they have given up looking for work.) Also, a significant proportion of employed Gen Ys are misplaced. That is, they are working for a position, likely for a low wage, that is non related to their degree.

Oh yeah, we did face 3Xs the tuition fee.  And once we do pay it back, do we want to invest in a durable good that we see is just another liability? Probably not for a while.

In major cities, public transportation is efficient enough, thank you very much.

The article should be retitled to, The Poorest Generation.