Canadian Students

Living In A Basement Is A Drag

Published On December 17, 2013 | By Joseph (Ken) | Economy, Student

basement

Haircut Deficit: Kids Living in Basements a Drag on U.S. Services Spending

” As young adults stay home with their parents rather than forging out on their own, spending on utilities and amenities such as cable television has languished.”

Wait.  Cable television isn’t languishing, it’s dying, and not because young adults stay home, it’s dying because cable television is to the internet what radio was to cable television.  The Internet offers better alternatives at a fraction of the cost – services like Netflix, ShareTV, Hulu and HitBliss (if you’re in Canada you want to use UnBlock-US so you get the most viewing options). 

Cable television is going to experience a slow progressive death as the younger, and more technologically savy, generation progresses into adulthood.  

“Millennials — adults aged 18 to 32 — are still slow to set out on their own more than four years after the recession ended, according to an Oct. 18 report by the Pew Research Center in Washington. Just over one in three head their own households, close to a 38-year low set in 2010.

I looked at this in Generation Wait

“As existing students graduate with debt levels much higher than past generations, they are unable to afford homes, get married and start families.  This puts a drag upon the economy, as money they would have spent on homes and the consumption of goods within the economy, is instead spent on repaying debt.  

“It has coined a new phrase “Generation Wait”.

The author of the first article blames it on unemployment caused by the “Great Recession”, but it’s a lot more complicated. 

Students To Get Realistic About Career Choices

The proportion of provincial support as a percentage of total university expenditures has declined from 84% to 58% between 1979 and 2009, while tuition has increased from 12% to 35% in that time, the report states.

“Add stagnant incomes and soaring household debt to the mix and “we’re looking to graduate a generation that starts out on very shaky ground,” said Shaker.”

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About The Author

Joseph (Ken)
(Ken) is a Registered Public Accountant with over 25 years of public practice experience in the accounting profession. Ken specializes in accounting information systems, taxation and financial reporting.

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