NEWSWIRE: 7/31/17
- A new report offers unique advice for Millennials seeking affordable housing: Move in with a Boomer empty-nester. The report suggests that doing so could save Millennials $24,000 annually compared to renting a one-bedroom apartment, a huge chunk of cash that could incentivize Millennials to move in with a “boom-mate.” (Trulia)
- NH: While the Trulia report offers no data on how many Millennials are actually availing themselves of this option, there is no question it could dampen demand for new housing units going forward if it catches on as it has in Europe. Co-living networks in Silicon Valley are already busily filling extra rooms of anyone who owns an extra room. NYU is actively matching students with older Manhattan residents. For an emerging generation of young adults who don't mind giving up privacy and being dependent on others, co-housing in its various forms (see this classy overview in The New Yorker) is booming.
- Shopping center property developers are lobbying for looser open-container laws. Allowing booze on the premises is just the latest tactic that companies with a stake in brick-and-mortar retail are using to draw patrons back to the store. (The Wall Street Journal)
- NH: As America's malls become less about selling things and more about providing a social entertainment experience, we're going to see more pressure in this direction. Besides, Americans (Millennials especially) are drinking less per capita than they used to. The specter of Fort Lauderdale on spring break is becoming less of an issue.
- Millennials spend more on everyday items like groceries, restaurants, and cellphone bills—and less on travel and television—than older generations. While this generation may be willing to splurge on the little things, student loan debt and a tough job market don’t leave much room in the budget for a jet-setting lifestyle. (Bankrate.com)
- NH: Yes, Millennials are spending less than older generations on travel and TV--both, basically, because they can't afford as much of either. The under-35 set aren't watching as much linear/network TV as Boomers. And they are familiar with alternatives to cable-fed entertainment that most Boomers haven't even dreamed of.
- New summer camps like Moolah U, Camp Millionaire, and Money Munchkids teach children about business, investing, and entrepreneurship. For Gen-Xers left battle-scarred from the Great Recession, this is a practical way to teach their kids the lessons they wished they learned when they were younger. (Quartz)
- Startups are going after Millennial parents with ultra high-end baby food subscription services that cost as much as $475 per month. While it’s true that Millennials want their babies’ food to be as high-quality as their own, the high price tag will keep much of this cash-strapped generation away. (JWT Intelligence)
- NH: Great idea, bad price point. (A bit like Whole Foods, which was lucky to find Amazon when it did.) See: "Nothing's Too Good for My Baby."
- Law experts warn brands of the many potential pitfalls of AR/VR systems, including safety concerns, copyright infringement, and privacy violations. Brands dealing in this nascent technology must be aware of the unique obstacles posed by platforms that blend technology with reality—or that replace reality altogether. (Marketing Dive)
- Researchers have developed video games designed to help children reduce the effects of ADHD and anxiety as well as manage their emotions. While video games have been blamed for promoting violence in previous generations of youths, it looks like Homelanders might be able to benefit from more screen time after all. (The Wall Street Journal)
- More than one-third of Millennials read their significant others’ texts and e-mails without their permission. While older generations are more concerned about breaches of digital privacy from anonymous hackers, it appears as though Millennials are more concerned by transgressions closer to home. (YouGov)
- NH: True, Millennials care less about privacy. But also... nearly all of the privacy worth breaching in their personal lives is in their texts. Jealous spouses used to listen in on your landline conversations. Now they grab your iPhone when you're sleeping.
- Attorney Mike Moore, who filed Mississippi’s first lawsuit against Big Tobacco in the 1990s, has his eyes set on a new target: Big Pharma. Spurred by Moore and others, a growing number of state and local governments are seeking damages from pharmaceutical companies that may have misrepresented the benefits and risks of opioids. (The Wall Street Journal)
- NH: Required reading for any investor long on Big Pharma firms getting hit by these suits (e.g., JJ, AGN, ENDP, CAH, and others). Just because the opioids are FDA-approved when prescribed, used, and managed as directed doesn't mean a lot of big pockets can't get emptied, just as it happened with Big Tobacco. Both Republican and Democratic governors are out for blood. (See: "A Nation Hooked.")
- Fully 33% of Millennial homebuyers were influenced more by their dogs than marriage or children when purchasing their first home. As birthrates and marriage rates continue to stall, Millennials are choosing to spend more time (and money) keeping their furry “family members” happy. (SunTrust Mortgage)
DID YOU KNOW?
Boomers Mixed on "the Big 6-0." For Boomers, a generation that prides itself on looking and feeling young (see: “Beauty Gets a Makeover”), milestone birthdays tend to elicit mixed reactions. With many late-wavers becoming sexagenarians this year, some have chosen to use their 60th birthday celebration as a testament to health and everlasting youth. Mike and Robin Hamlin, both of whom turned 60 this year, invited around 100 guests to a “120” party in honor of their joint milestone for a night that featured a live band and plenty of dancing. Others are less than cheerful, anxious to downplay the importance of their 60th birthday. Debbie Seid, who was thinking of a big birthday bash, now plans on a low-key get-together with a few close friends. Likewise, Craig Lambert decided on a quiet dinner to celebrate his 60th birthday, nothing like the big blowout he had for his 50th: “I didn’t want to focus on the number. I just wanted to get beyond it.”
