Thread by @Sunil_Sawhney

#SundayReading

I read a great article on why the younger generation do not buy cars & apartments anymore & found it #TooGoodNotToShare

#WhyOwnWhenYouCanRent?

#SharedEconomy

Nowadays,the traditional measure of success-owning an apartment & or a car-is getting out of date

An increasing number of young people around the world don’t want to buy them.

#Research shows that the so-called #MillennialGeneration, who are now 30-35 years old, rarely buy houses and even more rarely — cars. In fact, they don’t buy super expensive things at all.

In the USA, people under the age of 35 are called ’the generation of renters.’

Why does this happen?

Some sociologists say the current generation of young people differs from their parents’ generation. They have other values.

The youth today has redefined the concept of success, which means:

Successful people don’t buy property — they rent.

If you want to be considered successful, #InvestInExperiences: ✅#Travel,
✅Do #ExtremeSports
✅Build #StartUps.

The point is that people now don’t want prosperity & stability-all they want is flexible schedules & financial and geographical independence.

People have started to have no interest in material things

Why own a car if you can take a cab? It’s almost a personal car with a driver

And it’s not more expensive than having your own car.

Why buy a house in a beautiful place and go there for vacation, if you can find a place to stay through Airbnb in any corner of the planet? You don’t have to overpay for rent or buy a property in a country you love.

The same thing with real estate in your hometown:

You don’t know how long you’ll stay where you live.

You can take on a mortgage for 40 years, or you can accept the fact that you’ll spend your whole life in a rented place.

You’ll probably change your job in the next few years.

If you rent, nothing prevents you from moving closer to the office.

According to Forbes, modern young people change jobs every three years on average.

The concept of ownership is no longer relevant.

James Hamblin,The Atlantic’s columnist, explains the phenomenon as below:
Over the past decade, psychologists carried out a research proving that, in terms of happiness & a sense of well-being, spending money on new experiences is much more profitable than buying new things.

It brings more joy.’

#ExperiencesHelpUsMakeFriends

Social interaction between people is crucial to whether they feel happy or not. Talking to others and having a lot of friends makes you a happier person.

Let’s think 🤔, would people rather hear about how you spent a year in a wild country or about how many apartments you’ve already bought?

Remember that even a bad experience can become a good story. Material things cannot.
.
Buying things makes us #Worry

There’s one more thing.

The things we own, especially if they’re very #Expensive, make us worry about their condition. If you buy a car, you’ll flinch every time someone’s alarm sounds outside. If you buy a house and fill it with expensive items, you’ll be afraid of being robbed.

Not to mention the fact that a car can be scratched or can break down & a super expensive TV might break after a year of usage.

But no one can ever take away the experiences you have.
Every purchase will go down in price over time whereas every experience will become priceless!

Our parents weren’t able to travel as often as we do. There wasn’t the possibility to have so much fun. They didn’t have so many opportunities to start a new business. Therefore, they invested in houses and cars, and we don’t want to do that.

After all, every purchase, if it’s not a house or an apartment, will depreciate over time. And if we think about how quickly real estate depreciates during a crisis, then everything becomes even more obvious.

#TakeHomeMessage
#ExperienceIsPriceless and is the only thing that matters: it won’t go down in price, and no one can steal it.

The Author of the above article is from the USA and has explained about a growing trait in the USA.

But India is not far behind.

More and more of my friends, family and people I know who live in metros like Mumbai, Pune, Delhi and Bangalore are shifting to the above mindset.

The change is happening and happening really fast.

And #Experience has become the #NewAgeMotivator.

Very soon youth in developing cities will understand the power of the above and adopt it.

It's an #EvolutionaryChange, where we are moving away from #MaterialisticValue to #HigherEmotionalValue to Life!

If we consider the #MaslowsPyramid, this is a further step towards greater #Happiness.

If we consider what Krishna Said in the #BhagwatGita-

#DetachmentIsEssential to #ExperienceBliss!

If you still depend on #Materialistic approach to happiness.. Then this is a great time in the social evolution of society to experience the other side, without being considered a rebel or having to break too many comfort zones!

#SharedEconomy is truly here!

I don’t own a car in India since last 4 years & I can travel in any Limousine of my choice, with chauffeur & without an iota of stress regarding parking when I am not around.

Eliminating owners is the mission statement of many companies these days.