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Why young people don’t buy cars and apartments anymore
Nowadays, the traditional measure of success — owning an apartment and/or a car — is out of date. An increasing number of young people around the world don’t want to buy them.
Research shows that the so-called millennial generation, who are now 30-35 years old, rarely buy houses and even more rarely — cars. In fact, they don’t buy super expensive things at all. In the USA, people under the age of 35 are called ’the generation of renters.’
Why does this happen?
Some sociologists say the current generation of young people differs from their parents’ generation. They have different values.
The youth today has reconsidered the concept of success, which means:
Successful people don’t buy property — they rent.
If you want to be considered successful, invest in experiences: travel, do extreme sports, build startups.
The point is that people now don’t want prosperity and stability — all they want is flexible schedules and financial and geographical independence.
People have started to have no interest in material things
Why own a car if you can take a cab? It’s almost a personal car with a driver. And it’s not more expensive than having your own car.
Why buy a house in a beautiful place and go there for vacation, if you can find a place to stay through Airbnb in any corner of the planet?
You don’t have to overpay for rent or buy a property in a country you love. The same thing with real estate in your hometown: You don’t know how long you’ll stay where you live.
You can take on a mortgage for 40 years, or you can accept the fact that you’ll spend your whole life in a rented place.
You’ll probably change your job in the next few years. If you rent, nothing prevents you from moving closer to the office.
According to Forbes, modern young people change jobs every three years on average.
The concept of ownership is no longer relevant
James Hamblin, The Atlantic’s columnist, explains the phenomenon as follows: ’Over the past decade, psychologists carried out a great amount of research proving that, in terms of happiness and a sense of well-being, spending money on new experiences is much more profitable than buying new things. It brings more joy.’
Experiences help us make friends
Social interaction between people is crucial to whether they feel happy or not. Talking to others and having a lot of friends makes you a happier person. But would people rather hear about how you spent a year in a wild country or about how many apartments you’ve already bought?
Remember that even a bad experience can become a good story. Material things cannot.
Buying things makes us worry
There’s one more thing. The things we own, especially if they’re very expensive, make us worry about their condition. If you buy a car, you’ll flinch every time someone’s alarm sounds outside. If you buy a house and fill it with expensive items, you’ll be afraid of being robbed. Not to mention the fact that a car can be scratched or break down, and a super expensive TV might break after a year of usage. But no one can ever take away the experiences you have.
Every purchase will go down in price over time
Our parents weren’t able to travel as often as we do. There wasn’t the possibility to have so much fun. They didn’t have so many opportunities to start a new business. Therefore, they invested in houses and cars, and we don’t want to do that. After all, every purchase, if it’s not a house or an apartment, will depreciate over time. And if we think about how quickly real estate depreciates during a crisis, then everything becomes even more obvious.
Experience is the only thing that matters: it won’t go down in price, and no one can steal it.
But India is not far behind. More and more of my friends, family and people I know who live in metros like Mumbai, Pune, Delhi and Bangalore are shifting to the above mindset.
The change is happening really fast.
And experience has become the new age motivator.
...continued...
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What is Life?
Life is a puzzle, do it.
Life is a book, open it.
Life is a dream, realize it.
Life is a challenge, meet it.
Life is a duty, complete it.
Life is a game, play it.
Life is a promise, fulfill it.
Life is a sorrow, overcome it.
Life is a song, sing it.
Life is a struggle, accept it.
Life is a tragedy, confront it.
Life is an adventure, dare it.
Life is an opportunity , make it.
Life is a lock, unlock it.
Life is a book, read it.
Life is a drama, play it.
Life is a gift, open it.
Life is a rose, smell it.
Life is a scenery, watch it.
Life is a story, develop it.
Life is a novel, realize it.
Life is a smile, give it.
Life is a train, get on it.
Life is very precious, do not destroy it.
Life is a candle, light it up.
Life is a shadow, follow it.
Life is a rainbow, look at it.
Life is life, fight for it.
Life is not fair, accept it.
Life is full of beauties, admire it.
Life is the sunshine energy, just receive it.
Life is life, take it easy.
@american
Live to Work...
Father was a hardworking man who delivered bread as a living to support his wife and three children. He spent all his evenings after work attending classes, hoping to improve himself so that he could one day find a better paying job. Except for Sundays, Father hardly ate a meal together with his family. He worked and studied very hard because he wanted to provide his family with the best money could buy.
Whenever the family complained that he was not spending enough time with them, he reasoned that he was doing all this for them. But he often yearned to spend more time with his family.
The day came when the examination results were announced. To his joy, Father passed, and with distinctions too! Soon after, he was offered a good job as a senior supervisor which paid handsomely.
Like a dream come true, Father could now afford to provide his family with life’s little luxuries like nice clothing, fine food and vacation abroad.
However, the family still did not get to see father for most of the week. He continued to work very hard, hoping to be promoted to the position of manager. In fact, to make himself a worthily candidate for the promotion, he enrolled for another course in the open university.
Again, whenever the family complained that he was not spending enough time with them, he reasoned that he was doing all this for them. But he often yearned to spend more time with his family.
Father’s hard work paid off and he was promoted. Jubilantly, he decided to hire a maid to relieve his wife from her domestic tasks. He also felt that their three-room flat was no longer big enough, it would be nice for his family to be able to enjoy the facilities and comfort of a condominium. Having experienced the rewards of his hard work many times before, Father resolved to further his studies and work at being promoted again. The family still did not get to see much of him. In fact, sometimes Father had to work on Sundays entertaining clients. Again, whenever the family complained that he was not spending enough time with them, he reasoned that he was doing all this for them. But he often yearned to spend more time with his family.
As expected, Father’s hard work paid off again and he bought a beautiful condominium overlooking the coast of Singapore. On the first Sunday evening at their new home, Father declared to his family that he decided not to take anymore courses or pursue any more promotions. From then on he was going to devote more time to his family.
Father did not wake up the next day.
@american
Continued...
Why young people...
Very soon youth in developing cities will understand the power of the above and adopt it.
Its an evolutionary change, where we are moving away from Materialistic value to Higher Emotional Value to Life!
If we consider the Maslows Pyramid, this is a further step towards greater happiness.
Detachment is essential to experience Bliss!
If you still depend on Materialistic approach to happiness.. Then this is a great time in the social evolution of society to experience the other side, without being considered a Rebel or having to break too many comfort zones!
@american
How Not To Worry?
A friend of mine asked me how not to worry about the cat, which had some mild symptoms of illness, but nothing that looked severe enough to take the cat to the veterinarian. She also thought the symptoms were so subtle that they might not be easy to describe to the vet, but still she worried. I finally said to her, You must do something.
That's just the problem, there's nothing to do, she said.
Take some kind of action, I said. Call the vet and talk to him.
That doesn't make sense because the vet wouldn't know anything from what I told him, and he'd probably ask me to take her in to see him, and I know it's not that serious, she said.
Yes, I understand, I said, But you should take the action for you, not for the car or the vet. By not doing anything you're keeping yourself trapped in worrying.
Okay, she said. I see what you mean.
When she called the vet, to her surprise, the vet was able to make a good assessment of what was wrong. He recommended that she bring the cat in, and if it was what he thought it was, he could give her something to clear it up right away.
Anything that worries you should be acted on, not just thought about.
Don't be scared about the action; you can make it very small and easy, as long as you take an action. Even small actions will chase away your fears.
Fear has a hard time coexisting with action. When there's action, there's no fear. When there's fear, there's no action.
@american
🐽It’s Little Things that Make a Big Difference.
There was a man taking a morning walk at or the beach. He saw that along with the morning tide came hundreds of starfish and when the tide receded, they were left behind and with the morning sun rays, they would die. The tide was fresh and the starfish were alive. The man took a few steps, picked one and threw it into the water. He did that repeatedly. Right behind him there was another person who couldn’t understand what this man was doing. He caught up with him and asked, “What are you doing? There are hundreds of starfish. How many can you help? What difference does it make?” This man did not reply, took two more steps, picked up another one, threw it into the water, and said, “It makes a difference to this one.”
What difference are we making? Big or small, it does not matter. If everyone made a small difference, we’d end up with a big difference, wouldn’t we?
🐽Meaningless Goals.
A farmer had a dog who used to sit by the roadside waiting for vehicles to come around. As soon as one came he would run down the road, barking and trying to overtake it. One day a neighbor asked the farmer “Do you think your dog is ever going to catch a car?” The farmer replied, “That is not what bothers me. What bothers me is what he would do if he ever caught one.”
Many people in life behave like that dog who is pursuing meaningless goals.
🐽 How would You Like to be Remembered?
About a hundred years ago, a man looked at the morning newspaper and to his surprise and horror, read his name in the obituary column. The newspapers had reported the death of the wrong person by mistake. His first response was shock. Am I here or there? When he regained his composure, his second thought was to find out what people had said about him. The obituary read, “Dynamite King Dies.” And also “He was the merchant of death.” This man was the inventor of dynamite and when he read the words “merchant of death,” he asked himself a question, “Is this how I am going to be remembered?” He got in touch with his feelings and decided that this was not the way he wanted to be remembered. From that day on, he started working toward peace. His name was Alfred Nobel and he is remembered today by the great Nobel Prize.
Just as Alfred Nobel got in touch with his feelings and redefined his values,
We should step back and do the same.
What is your legacy?
How would you like to be remembered?
Will you be spoken well of?
Will you be remembered with love and respect?
Will you be missed?
🐽The Obstacles in Our Path.
In ancient times, a king had a boulder placed on a roadway. Then he hid himself and watched to see if anyone would remove the huge rock. Some of the king’s wealthiest merchants and courtiers came by and simply walked around it.
Many loudly blamed the king for not keeping the roads clear, but none did anything about getting the big stone out of the way. Then a peasant came along carrying a load of vegetables. On approaching the boulder, the peasant laid down his burden and tried to move the stone to the side of the road. After much pushing and straining, he finally succeeded. As the peasant picked up his load of vegetables, he noticed a purse lying in the road where the boulder had been. The purse contained many gold coins and a note from the king indicating that the gold was for the person who removed the boulder from the roadway. The peasant learned what many others never understand.
Every obstacle presents an opportunity to improve one’s condition.
@american