FLETCHER: So here is another article Realty times – educating thwarting homeownership for younger households. Here is another one by money, CNN, “Millennials squeezed out of buying a home. Millennial generation is rated many things; texting, social media, selfies. But buying a home? Not so much.”

But this just gets to the bigger point and so you probably saw this about a week ago, new study came out, CNBC; 24% of millennials expect student debt forgiveness. College costs continue to rise but one segment might not be very worried. 24% of millennials say they expect their loans to ultimately be forgiven. And so in 2012 the average debt to student loan when somebody graduated college was 26,000. Now it’s almost up to 29,000. Everybody is worried about the rise of healthcare costs but over the same period of time education has gone up four times as much and it ain’t getting any better!

So here is another study by peer research, “Social and demographic trends – a rising share of young adults live in their parents’ home. A record 21.6 million.” The article goes on to say there is declining unemployment. In 2007 70% of college graduates came out and got jobs. In 2012, only 63%. And now in 2014 we are down to around 50%.

Rising college enrollment so more people are going to college and they are going to college for longer, Sloper touched on this. They’ve got a bachelors degree but it ain’t enough. So now they stay in college for another two years to get a masters or an MBA and then they stay another two years for PhD because the competition is so steep that’s what they’ve got to do to be competitive, that’s what they’ve been convinced of. And so now they have not $30,000 worth of debt, they have 60, 70, 80, $150,000, as much as a mortgage potentially.

And because none of these people are financially secure, they put off their plans of becoming married so there is declining marriage rates meaning there are no two-income families in the millennial generation or at least a lot less decreasing their buying power even further.

Again he gets back to this point, why would you want to target this segment of the population to build your business on? They are brilliant!




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