Los Angeles Business Journal

Recession Generation Opts to Rent, Not Buy

Wednesday, August 8, 2012

Confronting a jobless rate above 8 percent since 2009 and student-loan debt hitting about $1 trillion, 20-to-34-year-olds are renting apartments, cars and even clothing to save money and stay flexible. Bloomberg News reports that as the Great Depression shaped the attitudes of a generation from 1929 until the early years of World War II, so have the financial crisis and its aftermath affected the outlook of young consumers.