Millennials are not buying cars or houses at anything close to the rate of Gen X or Baby Boomers. It's the crash, Smart Phones -- and a rejection of the alienating aspects of dispersed living patterns (i.e. suburbs). Young people want to live in close-in suburbs and/or cities. They use Zipcar when they need to go somewhere (Zipcar's explosion being made possible in large part by Smart Phones). Piece in the Atlantic, here:
http://www.theatlantic.com/magazine/archive/2012/09/the-cheapest-generation/309060/
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