Do you expect to be driving less than your parents once did?
Are you driving less than your parents? Is it urban living? Gas prices? Environmental concerns? Or simply the fact that you're just not that into cars?
It does seem that young people are making more use of transit, bikes, and foot power to get around.
In 2009, 16 to 34-year-olds took 24% more bike trips than they took in 2001. They walked to their destinations 16% more often, while their passenger miles on transit jumped by 40%, according to U of T professor Richard Florida writing in this month's Atlantic.
Part of the reason for this shift is clearly financial. Many underemployed young people have decided that they either can’t afford a car or would rather spend their money on other things. Florida cites a Zipcar/KRC Research survey, which found that 80% of 18 to 34-year-olds felt the high cost of gas, parking, and maintenance made owning a car difficult.
"For generations of Americans, car ownership was an almost mandatory rite of passage — a symbol of freedom and independence. For more and more young people today, a car is a burden they no longer wish to carry," he maintains.
What happens, then, if a broad swath of Gen Y decides that they can simply rent when they need to, or go without cars entirely?
Is this shift permanent, the result of a hardwired lifestyle shift that will last well into adulthood, or the product of an economy that's temporarily eroded their purchasing power?
Is there a car in your future? If so, do you see yourself using it the way your dad did?
By Gordon Powers, MSN Money
Posted by: Troy Jollimore | Apr 20, 2021 6:09:38 AM
Right on BOTH counts, and there are a few extras... Our parents didn't really give much thought to the environmental impact of their cars and driving patterns (cruising all night up and down the 'strip'). They also didn't think as much about putting their money to use in other areas. This is compounded by the sheer number of vehicles on the road today, which also has more impact. More of Gen Y will have 'friends' that have a car they can use or ride in, and find that driving isn't as 'fun' as our parents had it (more cars and a higher ratio of bad drivers, along with more law enforcement).
The auto-based economy may shrink, as well it should. Should they REALLY keep pumping out millions of cars a year to feed people's need for 'shiny and new'? Current vehicles will stay running just fine for years yet, rather than being sent to the scrapyard...
Posted by: Jack | Apr 20, 2021 5:06:01 PM
My dad only had one car. I now have 4, but at one time I had 6. I drive much more than my parents did. I give no regard to whether or not I should be driving more or less. I drive when I need to. I have different vehicles for different purposes, like clothes. I have no environmental concerns because I believe it is BS that we are contrinbuting to global warming (as per my colleagues at Cern in Geneva). As far as price of gas, even at $1.40 per litre, it is still too cheap to worry about. Gas, car insruance, and maintenance are the least of my expenses.
Posted by: scott | Apr 22, 2021 8:51:25 AM
Ref comment from Jack:
A typical response from someone with to much money. If it were all taken away from you in the blink of an eye you might care about the cost of fuel but then again you could probably just sell one of your 4 vehicles. What a Princess!!!!
Posted by: melonhead | Apr 22, 2021 4:31:22 PM
I would give up my car in a heartbeat. But transit is does not work for me. I have to take 4 buses to get to work, even then it would take me over 3 hours one way. But as soon as I can, good bye car and hello taxis or rental when I need to. Preferably taxis, cheaper than renting and you do not have to worry about driving yea
Posted by: SP | Apr 22, 2021 9:13:37 PM
I do drive less than my father, but then again I'm not as motivated to work for the taxman as he was.
That said, your article is missing a few (possibly important factors), including:
1) Gen Y cannot afford to pay for their student debts, Foreign wars and CPP payments while paying for a car.
2) Gen Y cannot afford to purchase a house because many Seniors view their homes located next to schools as their 'nest egg'. Thus for Gen Y to start a family they either have to save longer or do without more to provide for their children the lifestyle their parents provided with ease. No house = no garage/drive = no car.
3) Gen Y cannot afford manditory car insurance. For a new driver with a nice car the insurance costs alone could easily equal the cost of a years transit. What was the cost of car insurance for teens in the 1950's?
4) The war on the young by the older established generation has been successful not only here in North American (including Canada) but also in Japan where the level of car ownership among the young has also plummeted.
The only way my children will be able to legally afford an education, a home and a car when they are 19+ is if I pay for it. And from the financial projections I've seen that isn't looking very likely.
Perhaps their grandparents could take one less cruise a year & helped....
BWHAHAHA Like that's going to happen.
Posted by: Dana | Apr 24, 2021 3:44:20 PM
I am Gen Y and I do own a car. It costs more than my rent though. My insurance is $340/month. I've never been in an accident, but I do have two speeding tickets under my belt. When you add monthly payments for the loan, gas and maintenance....it adds up. I couldn't live without my car though. Most days I have school and then work - or work and then my other work. If I took transit I wouldn't be able to fit it all in one day. However, I would take transit to work if I could.
Posted by: Jack | Apr 25, 2021 2:25:03 PM
@scott... what was the purpose of your rant? You obviously have a self-esteem problem, otherwise you would not feel the need to put other people down. Is there a law against owning more than 1 vehicle? NO! So shut the F up! "A typical response from someone with TOO much money" (notice the correct spelling!) What does that mean? What makes you think that I have TOO much money? I think the problem is that you personally feel that you do not have enough. "If it were all taken away from you in the blink of an eye"... ah yes, the proverbial meaningless comment from your kind. What is the "IT" that will be taken away from me? My work ethic? My education? My drive to do the best that I can at my work so that I can EARN a very comforable life?