I had to laugh when Marketing magazine had a headline "Millennials look for experiences over possessions." I thought that I had read something like that before and then remembered a blog posting back in 2008 that said something very similar only this time it was about Boomers.
Yesterday I was reading an article in the WSJ titled: "Aging and Broke, More Lean on Family." Much was made of research from Pew about the increase in multigenerational households because of the inability of older people to afford to life alone. The article is behind a paywall - don't worry - it was long on anecdotal stuff and short on detail.
A survey by VibrantNation.com suggests that while US Boomers typically would be dealing with “Empty Nest” syndrome as their children leave home they are in fact running multi-generational boarding houses.
This blog posting by Jay Suhr makes a great deal of sense in which he tries to answer the question that fascinates me: “is the recession a defining moment for our consumer-driven society.” If it is, what impact will it have?