essential knowledge for multifamily
subscribe| advertise| blog

Search:

 


March 2009
I love this town Bon Jovi style
Who says you can't go back?
How to market in a recession
Core values: the new assets
Surety bonds: the un-concession
Change from the ground up
Two Center Street
Strategic alliance
Green standard
Give your technology a KISS
Web sites earning their keep
The art of leasing
Experience matters
CallSource teams with Hire Heroes USA
Lent for rent
A rising tide
THIS ISSUE   |    EMAIL   |    PRINT

Article published: March 1st 2009

Lent for rent

Please, make them stop. Maybe it's just us, but if we read one more story telling us how frugal we now are - and will probably forever be - we're going to take that pair of scissors that we are supposedly using to clip coupons and cut our wrists instead.

You just can't open a newspaper or magazine these days without being bombarded with tales of our newfound thriftiness - and related godliness - which, we are told, signals the end of conspicuous consumption as we know it. According to the media, the recession has changed us all, deeply, profoundly and forever. The New York Times, for one, has gone so far as to dub the young adults who are graduating into the crisis "Generation Recession." Its members will "most likely be shaped by a return to things that matter, a re-definition of values," the paper intones.

Oh, please.

To be sure, it's hard to find anyone who hasn't curtailed his or her consumption in some way or another. And for people who have been out of their jobs or out of their homes for months, the recession is apt be a life-altering experience. But what about the 91 percent of the population that is still gainfully employed? They may have given up, at least for now, spa vacations, $200 jeans and daily lattes, but have their "many decadent impulses" really been "chastened," as a recent story in the Denver Post declared? Is it really "a sign of the times"

when an Atlanta socialite "digs out a 10-year-old dress to wear to a recent society party," as the lead of a page one story in The New York Times surmised?

Well, maybe. But maybe not. Exhibit A for most of the-recession-is-changing-us-all pieces is, of course, the Great Depression and the tremendous affect it had on those born into it. They were a "generally drab lot," The Times' Generation Recession story explains, citing as its source Time magazine's "Silent Generation" essay from 1951.

"Cautious and resigned, uninterested in striking out in new directions or shaping the great issues of the day."

Ergo, the piece reasons, our current recession will also leave a mark on its youth, albeit a different, more positive one. And the Times is anxious to define that mark for us. Generation Recession will be "more civic-minded" and "might feel bolder striking out in more creative directions." The reason: The "assumptions of the past decade," we are told, have been "popped."

The problem with all of this is that

2 

NEXT

TOP   |    THIS ISSUE   |    EMAIL   |    PRINT
LATEST ISSUE
Legacy builder  >>
INDUSTRY LINKS
Apartment Internet Marketing Conf
Institute of Real Estate Management
Mortgage Bankers Association
National Apartment Association
National Association of Home Builders
National Multi Housing Council
PCBC Multifamily Trends Conference
U.S. Green Building Council
Urban Land Institute

ABOUT     |     ARCHIVE     |     ARTICLE GUIDELINES     |     BACK ISSUES     |     ORDER BACK ISSUES     |     ORDER ARTICLE REPRINTS     |     SUBSCRIBE     |     ADVERTISE     |     CONTACT


MEDIA     |     TERMS OF USE     |     PRIVACY