Publisher's Opinion-

October 2017 Edition
The New Mindset

Years ago, (I know saying this makes me sound like an old man!), homeownership was part of the American dream. It was the goal of my generation to obtain solid employment, to save money, and then to purchase their first home. That was, to us, a sign of personal and financial success.
Today the millennials mindset has reversed this line of thinking. The interest in materialistic ownership has disapated for the newer generation as they more often choose to rent rather than buy. I have a few thoughts on what drives this trend.
My first thought is today’s young people prefer the freedom to move about more freely than ownership allows. Rental apartments are locked in for a limited time based on the lease. Exterior and interior maintenance are usually included so the renter is not tied down with homeowner-type chores. Another thought is the excitement of travel. The world has gotten smaller and in many cases safer. Growing up, a trip to me was going to a relative’s home a couple of towns away. Now many of these twenty-somethings have traveled out of the country to South America, Africa, Europe, and Asia. Travel to them has become routine. One of my daughter’s favorite countries to visit was Vietnam because of its beauty. Vietnam and Asia, when I was in my 20s, was the last place in the world I wanted to be.
Perhaps the biggest reason I believe this non-ownership trend now exists revolves around the high level of college debt that confines so many graduates. They enter the world with a solid education and high expectations, only to be welcomed with large tuition bills and often finding the jobs they were educated for are few and far between. With an endless sea of bills and years until they reach financial security, our young folks are not considering the permanent, added expense of purchasing a home.
We are now working on our November Commercial Review 2017. This issue will feature an Economic Develoment Directory and wonderful editorials. To be part of this issue–give us a call. We will see you then.

by Roger Krieg
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