The YOLO Generation: The “Zillennials” Who Moved to “Mom and Dad's Hotel”
The YOLO Generation: Meet the 'zillennials' who have gone back to 'mom and dad's hotel' so they can spend their money on designer handbags and TEN vacations a year instead of rent and mortgages. Nearly half of 18-29 year olds still live at home, according to the US Census With their disposable income, many are now supporting the luxury goods market which experts say is "recession proof". as a result Dailymail.com talks to three women who spend their rent on a better quality of life < p class="author-section byline-plain">By
Emily Stone eyeing a cameo beige Prada handbag, adorned with the brand's signature triangle logo in gold - and an exorbitant price tag of $2,300.
It's been just over six months since the 25-year-old bought her last 'treat' - a 2,000 Louis Vuitton handbag. $ - but she's ready for another splurge.
"It's nice to be in this position where if I see something I like I can buy it," said l nurse-turned-content-creator, who lives outside of Milwaukee, Wisconsin.
While it might seem surprising that someone so young could afford designer handbags in today's climate, Stone does part of a growing generation of "zillennials" who are moving back with their parents so they can afford a better quality of life.
'Zillennials' refers to those who are on the verge of being Millennials - born between 1981 and 1996 - and part of Generation Z - born between 1997.
Last year, these two generations combined accounted for 72% of the luxury goods market.
Weary of paying exorbitant rents and disappointed by rising mortgage rates, these professionals have given up living independently and instead favor designer goods and luxury travel.
Emily Stone eyeing a cameo beige Prada handbag, adorned with the brand's signature triangle logo in gold - and an exorbitant price tag of $2,300.
It's been just over six months since the 25-year-old bought her last 'treat' - a 2,000 Louis Vuitton handbag. $ - but she's ready for another splurge.
"It's nice to be in this position where if I see something I like I can buy it," said l nurse-turned-content-creator, who lives outside of Milwaukee, Wisconsin.
While it might seem surprising that someone so young could afford designer handbags in today's climate, Stone does part of a growing generation of "zillennials" who are moving back with their parents so they can afford a better quality of life.
'Zillennials' refers to those who are on the verge of being Millennials - born between 1981 and 1996 - and part of Generation Z - born between 1997.
Last year, these two generations combined accounted for 72% of the luxury goods market.
Weary of paying exorbitant rents and disappointed by rising mortgage rates, these professionals have given up living independently and instead favor designer goods and luxury travel.
What's Your Reaction?
