imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Calendar Publish RSS
latest news
best of news




A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List


IMC Network:

Original Cities africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech

Surviving Cities africa: canada: quebec east asia: japan europe: athens barcelona belgium bristol brussels cyprus germany grenoble ireland istanbul lille linksunten nantes netherlands norway portugal united kingdom latin america: argentina cmi brasil rosario oceania: aotearoa united states: austin big muddy binghamton boston chicago columbus la michigan nyc portland rochester saint louis san diego san francisco bay area santa cruz, ca tennessee urbana-champaign worcester west asia: palestine process: fbi/legal updates process & imc docs projects: radio satellite tv
printable version - js reader version - view hidden posts - tags and related articles

Generation Y Doesn't Fulfill Expectations

by Thorsten Schroeder Monday, Aug. 29, 2016 at 4:28 AM

The revolution from Silicon Valley has shaken traditional American branches to the core.The Smartphone is more desirable than the car since the drive-in movie theater was replaced by Netflix. "The Facebook post may more important for self-esteem than the Italian vacation."


For a long while, the US economy could rely on the rising expectations. But millennials are making life hard for companies. Why don't they want houses and cars?

By Thorsten Schroeder

[This article published on August 16, 2016, is translated from the German on the Internet, The consumer-lazy millennials are a problem for the US economy.]

Millenials make US car manufacturers despair. They simply don't want to shop anymore. General Motors engaged the marketing experts of MTV and broadcasts like Teen Mom to enthuse the generation born between 1980 and 1999 for its models. Ford made its cars available to the most influential bloggers of the country for test drives – in the hope of inspiring the younger target group. If the branch does not adjust to the tastes of youth, it runs the risk of becoming the uncool "dad at the school dance." So the New York Times quoted an MTV executive at the start of its 2012 collaboration with General Motors.

However the attempts to kindle the young love for the car came to nothing. According to a study by the US Public Interest Research Group, millennials drive shorter distances, shift to public transportation, ride bicycles or walk. Buyers between 21 and 34 amounted to 27% of new car owners in the last years; 1n 1985, they were still 38%. The number of youths who applied for drivers' licenses fell 28% between 1998 and 2008. Not a single car manufacturer appears among the 31 brands that are most admired.

America long relied on the rising generation. One's first- or second car was part of the American dream alongside one's home. For decades, around half of the income of a typical American family flowed into transportation and housing.

In Los Angeles, living and working under one roof is becoming a solution, pod-share instead of housing and office. Sublime lofts for the well-to-do are solved differently for entrepreneurs in Los Angeles.


"It was expected that a 30-year old has a family, a house, and at least one car," said Perry Wong from the Milken Institute in California. That seems to be changing on the real estate market. The share of persons under 34 years of age with mortgages is half as great as ten years ago. "We have to do with a new reality," Wong says.

The revolution from Silicon Valley has shaken traditional American branches to the core. Whoever has access to a Smartphone can order a Uber car in many places to go from one place to another. Young Americans prefer services like Zipcar instead of storing the car in the garage 90% of the time or searching for hours for a parking place and buying insurance. The Smartphone is more desirable than the car since the drive-in movie theater was replaced by Netflix. The distance to friends can be covered simpler and cheaper.


The way Americans live is defined more strongly by Start-ups. WeLive, a subsidiary of the New York office provider WeWork, offers millennials old rooms for work – without long-term rental contracts since a better job may arise in another city. A mortgage with a thirty-year running time is a relic from times when people had the same job all their lives and owned the same house, writes John Marshall from the Lippincott consulting agency. "The Facebook post may be more important today for self-esteem than the Italian vacation, the luxury trip or the car in the garage."

Skeptics of change dismiss the present development as a consequence of the precarious economic situation besetting many young Americans. Massive debts from education, an unstable job market, and restless biographies ensure that millennials will postpone large purchases to the future and live longer with their parents. A few days ago, the New York Times criticized the government for creating too few incentives and means of help.

The auto-branch hopes falling gas prices and better jobs could trigger a change in the trend and point to higher sales numbers. The analyst Wong is skeptical. This development can only partly be referred back to economic reality. "We are witnessing a generation with very different expectations," the economist says. What this means will first be clear in a few years.


This change could have far-reaching consequences for the US economy. The real estate market is an important leg of the economy that keeps many other branches alive. The construction branch stands and falls with the desire of Americans for their own home. The credit economy is not the only branch dependent on a flourishing housing sector. Without it, the low-interest policy of the US Federal Reserve would be largely ineffective. In the 1980s, the Federal Reserve made mortgages affordable with the lowest interest rates – and fueled a building boom that brought the country out of the recession. The auto-branch is still responsible for a large part of blue collar jobs that are not cushioned by new boom branches like technology.

Not everyone sees the development as depressing. Life in a narrower space will stimulate creativity in the country, economists argue. Productivity increases because there is less idling when assets like cars and homes are shared. When Americans spend less money for cars and houses, they have more money they can save or spend for travels or education, Peter Wong explains. In a constantly changing world of work, investments in one's abilities are more important than one's own home.

Report this post as:

Local News


lausd whistle blower A10 11:58PM

Website Upgrade A10 3:02AM

Help KCET and UCLA identify 60s-70s Chicano images A04 1:02PM

UCLA Luskin: Casting Youth Justice in a Different Light A02 11:58AM

Change Links April 2018 A01 11:27AM

Nuclear Shutdown News March 2018 M31 6:57PM

Join The Protest Rally in Glendale on April 10, 2018! M29 7:00PM

Join The Protest Rally in Glendale on April 10, 2018! M29 6:38PM

Spring 2018 National Immigrant Solidarity Network News Alert! M19 2:02PM

Anti-Eviction Mapping Project Shows Shocking Eviction Trends in L.A. M16 5:40PM

Steve Mnuchin video at UCLA released M15 12:34AM

Actress and Philanthropist Tanna Frederick Hosts Project Save Our Surf Beach Clean Ups M06 12:10PM

After Being Told He's 'Full of Sh*t' at School Event, Mnuchin Demands UCLA Suppress Video M02 11:44AM

Resolution of the Rent Strike in Boyle Heights M01 6:28PM

What Big Brother Knows About You and What You Can Do About It M01 3:30PM

Step Up As LAPD Chief Charlie Beck Steps Down F14 2:44PM

Our House Grief Support Center Hosts 9th Annual Run For Hope, April 29 F13 12:51PM

Don’t let this LA County Probation Department overhaul proposal sit on the shelf F13 11:04AM

Echo Park Residents Sue LA Over Controversial Development F12 8:51AM

Former Signal Hill police officer pleads guilty in road-rage incident in Irvine F09 10:25PM

Calif. Police Accused of 'Collusion' With Neo-Nazis After Release of Court Documents F09 7:14PM

Center for the Study of Political Graphics exhibit on Police Abuse posters F07 9:50AM

City Agrees to Settle Lawsuit Claiming Pasadena Police Officer Had His Sister Falsely Arre F04 3:17PM

Professor's Study Highlights Health Risks of Urban Oil Drilling F04 12:42PM

Claims paid involving Pasadena Police Department 2014 to present F04 10:52AM

Pasadenans - get your license plate reader records from police F03 11:11PM

LA Times Homicide Report F03 1:57PM

More Local News...

Other/Breaking News

Tech workers organize A24 6:24PM

Architect Stephen Francis Jones A24 3:01PM

UN Forum Wrestles with Economic Policies 10 Years After Financial Crisis Islands Call for A24 12:34PM

Xyloglossie attitudinale A23 8:07AM

Shadowgun Legends Hack and Cheats A23 7:24AM

What does the Quran Say About Islamic Dress?? A21 4:15PM

Biodiversité ou la nature privatisée A20 11:22AM

The Market is a Universal Totalitarian Religion A20 7:14AM

Book Available about Hispanics and US Civil War by National Park Service A19 5:52PM

The Shortwave Report 04/20/18 Listen Globally! A19 4:01PM

The Republican 'Prolife' Party Is the Party of War, Execution, and Bear Cub Murder A19 11:48AM

Neurogenèse involutive A18 9:21AM

Paraphysique de la dictature étatique A16 10:13AM

Book Review: "The New Bonapartists" A16 3:45AM

The West Must Take the First Steps to Russia A14 12:25PM

Théorie générale de la révolution ou hommage à feu Mikhaïl Bakounine A14 3:30AM

The Shortwave Report 04/13/18 Listen Globally! A12 3:50PM

“Lost in a Dream” Singing Competition Winner to Be Chosen on April 15 for ,000 Prize! A12 3:48PM

The World Dependent on Central Banks A12 4:43AM

Ohio Governor Race: Dennis Kucinich & Richard Cordray Run Against Mike DeWine A11 9:40PM

March 2018 Honduras Coup Again Update A10 10:52PM

Apologie du zadisme insurrectionnel A10 3:33PM

ICE contract with license plate reader company A10 1:14PM

Palimpseste sisyphéen A09 11:23PM

Black Portraiture(S) IV: The Color of Silence...Cuba No...Cambridge Yes A09 5:32AM

Prohibiting Micro-Second Betting on the Exchanges A09 4:18AM

Prosecutors treat Muslims harsher than non-Muslims for the same crimes A08 10:33PM

Amy Goodman interview on cell phone safety A08 10:29PM

More Breaking News...
© 2000-2018 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy