"The Cheapest Generation" Identifying and Evaluating Evidences

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“The Cheapest Generation,” Identifying and Evaluating Evidences
Issues and Conclusion
Thompson and Weissmann are questioning the sudden decline millennials spending on cars and houses. Their question is, why are the millennials not interested in purchasing cars and houses compared to their cohort age group in the past and its impact on the economy? Specifically, the authors are looking into the reasons that could have contributed to the notable aversion to cars and houses by the generation Y (Thompson and Weissmann 1). The reduction in huge spending on houses possesses negative implications to both the present and future of the economy. Based on several studies, the author concludes that there is a sharp decline in spending on cars and houses by millennials are the effects of economic downturns, change on demographic patterns and size, change in taste and preferences, as well as changes in priorities and consumer habits on huge spending.
Identifying Evidences
The authors have cited several pieces of evidence to underpin the conclusion. One of the evidence is that there is a notable decrease in the number of young people driving cars. According to a report by Ford, the young population in the ages between 21 and 34 years purchased only 27% of all the vehicles sold in America in the year 2010, and this was a negative deviation to 38% purchase by a similar age group in 1985 (Thompson and Weissmann 1). The second evidence is the change in millennials’ consumption habits on huge investments as they have turned against cars and houses due to the rapid re-urbanization and plummeting fuel prices in the recent years. The third and last evidence is the sudden change in the taste and preferences of millennials over cars and houses due to the new and affordable alternative options enabled by the growth of technology
Evaluating Sources
The sources of the evidences and other supporting d...