The Washington Post published an interesting – and alarming – story about the increase in suicide attempts among the Baby Boomer generation. According to the article, some of this increase follows a natural trend toward suicide among older individuals, however the actual rate of suicide has also increased – in some cases by as much as 50 percent – between 1999 and 2010. The article goes on to speculate on some of the generational norms that may contribute to this increase. Interestingly, these are the same norms that have shaped how Boomers perform and behave in the workplace. I am… Read More
Categories: Baby Boomers, Training IndustryAccording to a survey for the American Psychological Association (APA) by Harris Interactive, Millennials are the most stressed out generation. A majority of Millennial adults report symptoms like difficulty sleeping that are usually related to stress. 40% report their stress has shot up significantly in the last year, compared with a third or less of older generations. Millennial unemployment is above 13% and over half of Millennial college graduates are in jobs that do not require a degree, which could account for some of the stress. Not surprisingly, Millennials are most stressed out by work (76%) and money (73%). Close… Read More
Categories: Recession Economy, Training IndustryClick on title above to see my recap from a recent conference in Victoria, Canada on how to appeal to different generations of home buyers. Enjoy!
Categories: Home Ownership, Real Estate, Training IndustryMillennials have always been slow to reach the milestones of adulthood. As more of them become adults, the age of first marriage and the age of first-time home buying has steadily crept up. Now, the recession has slowed them down even more as they struggle to find jobs and become financially independent. And that is hampering the housing recovery, according to an analysis by the Washington Post. Census data shows that the recession has slowed the rate of formation of new households by 50%, leaving at least 2 million homes unoccupied that might have normally been inhabited (about two thirds… Read More
Categories: Home Ownership, Real Estate, Recession Economy, Training IndustryWe’ve typically characterized Millennials as an optimistic generation but that outlook may not survive their present circumstances. According to a widely publicized Newsweek story, Millennials are now America’s most “screwed” generation. The story cites a host of scary statistics: Millennials’ net worth fell 37% from 2005-2010 (Matures’ fell 13%). The wealth gap between Millennials and Matures is the highest on record. They have the highest unemployment rate at 12%, and it’s worse for younger Millennials Their average credit card and other debt is nearly $13,000 The typical student loan burden is $27,000 Only about half of graduates are able to… Read More
Categories: Home Ownership, Recession Economy, Training IndustryAccording to a University of Michigan study that tracked over 3000 Gen Xers, Gen X men are significantly more interested in food than their counterparts in older generations. These guys can cook – they prepare about 8 meals a week on average. They also spend a significant amount of time grocery shopping and consuming food related media such as cooking shows and magazines. Gen X women still cook more, preparing 10-12 meals a week. But compared to males in predecessor generations, Gen X men make up a much more receptive market for food and cooking related products and media. Part… Read More
Categories: Generations, Training IndustryMillennials, already prone to delay milestones like careers and marriage, are putting them off even further as pessimism about their economic outlook causes them to downsize their expectations. A recent Los Angeles Times analysis of recent surveys depicts a “Generation Vexed” who, in their words, now plan to “take smaller steps” and who are resigned to the fact that “you can’t reach for the stars right now.” For the first time in three decades, Gallup shows that fewer than half of Americans believe the next generation will have a better life. As a result, according to a Generation Opportunity poll, nearly three… Read More
Categories: Training IndustryMillennials were first known as the “Echo Boom” because they were an echo of the Baby Boomers. As Boomers reached child-bearing age, their fertility rates (births per woman) were not particularly high, but the sheer size of the Boomer generation ensured that their offspring, the Millennials, would echo the population boom of their parents. Now that Millennials are reaching child-bearing age, fertility rates are shrinking even further. A recent Advertising Age analysis of census data shows that birthrates for women in their 20s declined more in the last two years than any time in the last three decades. In fact, the only… Read More
Categories: Baby Boomers, Training Industry, WomenAt least 20% of Baby Boomers are helping their Millennial children or grandchildren realize the dream of homeownership, according to a Better Homes and Gardens survey. One in five Boomers surveyed had gifted, loaned, or co-signed in support of a Millennial’s purchase of a home. More than two-thirds expressed a desire to provide such support in the future to their children or grandchildren, many intending to do so on multiple occasions. This growing trend highlights a generational imbalance in wealth – Matures and Boomers have accumulated a lot of it whereas Millennials are finding it more difficult to get hold… Read More
Categories: Baby Boomers, Home Ownership, Real Estate, Training IndustryBoomers can be described as two generations in one. Leading Edge Boomers (or Early Boomers, b.1946-1954) and Late Boomers (or “Generation Jones,” b.1955-64) often exhibit different traits and tendencies as consumers. Their current attitudes about real estate highlight the differences between older and younger Boomers perfectly. A recent Coldwell Banker survey shows Leading Edge Boomers to be a generation preparing for retirement – downsizing, consolidating, conserving – while Late Boomers are still ambitious and acquisitive. According to the survey, only 6 percent of agents surveyed say their older Boomer clients are looking to upgrade, while 31 report that younger Boomer… Read More
Categories: Baby Boomers, Real Estate, Training Industry