By Sharon Hackenbracht
As I noted previously in my earlier blog entry the life choices that are being made by millennials are significantly influenced by their parents.
While the recession compelled many millennials to live at home with their parents, a recent study projects that millennials – the largest and most diverse generation in history – will create up to 24 million new households in the next ten years. The Chicago Tribune reports that half of adults between the ages of 18 and 34 report that they plan to ask their parents, and even their grandparents, to help them come up with the down payment needed to purchase a home (as cited by www.trulia.com, 2014).
Where will these households be? How will millennials choose to live? And what furnishings will they decide they need? How will their choices differ from those of their parents, and what, if any, influence will their parents still wield on these choices?