Millennials, Microunits & Micromobility
While buying a house or owning a car was once considered a wise decision amongst our previous generations, the millennials don’t see it that way. The trend we observe is that compared to the baby boomers and gen-x, the millennials are more interested in investing towards better quality of life and enriching experiences rather than buying assets. The economics that made sense to the baby boomer generation doesn’t apply in today’s market conditions. This sample thought process applies to transportation. There is no sense of urgency amongst millennials to own or drive a car with the availability of a sleuth of transportation options available via mobile phones. A person who optimizes for reducing liabilities, saving more of their budget towards entertainment and self enrichment is investing in themselves and their own mental health improves as a result. This means a bigger portion of the monthly budget is going towards food, entertainment and other self-enriching services.