Gen X Myths

February 20th, 2006 Stewart Posted in Uncategorized |

HousingZone.com - Lingering Myths about Generation X

How about that? Molly forwarded this article to me and I think it is really very interesting, especially in terms of how it identifies Gen X as consumers. Recent articles, like the one from TIME about Twixters, aka “boomerang kids,” make it sound like these are core Gen Xers who can’t seem to make it — In reality, it’s mostly cuspers between Gen X and the Mils who have no jobs and no prospects. Recent Mil college BAs and BSs are returning to grad school by the truckload because the job market is so bad.

Meanwhile, established Gen Xers are bringing home the bacon. The article points up two major overlooked factors about Gen X:

1 - Xers are homeowners:
According to the U.S. Census Bureau, 47% of 25—34-year-olds owned a home in 2003, compared to 43% in 1990.
Something else to consider here is Gen Xer mobility. While most Boomers have finally settled in (if not “settled down,” which they hate to be told and have no sense of humor about), Xers have mid-career positions that often require relocating to other parts of the country. I’d be willing to wager Gen Xers buy and sell more homes than Boomers at this point.

2 - Xers have disposable income:
According the Consumer Expenditure Survey, Generation X outspends the average consumer in several categories, including eating out, clothing, transportation, entertainment, audio/visual equipment and housing.
And yet, we still don’t get “catered to” by marketers or advertisers in anywhere near the manner that aging Boomers or baby Mils do, proof enough that the myths Coupland published all those years ago still hold sway in the American psyche.

Gen X isn’t going to simply step aside for the Mils, folks. They are too smart, too wealthy, and too entrenched to simply let the Mils walk all over them. There needs to be significant job growth in this country, and it needs to happen right now.