Millennial money myths: The truth about homes, cars and ownership
[Source: CNBC; Accel & Qualtrics] When it comes to trying to get inside the head of millennials, don't buy the buzz about the "don't own" economy.
The success of start-ups like Netflix, Spotify and Uber have led to predictions that future Americans will choose not to own and drastically shape the future consumer society. But when it comes to big purchases — the kind that can be very good or very bad financial decisions — millennnials are not that different than past generations.
Fifty-three percent of millennials own homes and overall, 88 percent of millennials who do not own a home have one on their wish list, according to a survey conducted by Qualtrics, a Provo, Utah-based survey software firm, and venture capital firm Accel Partners (a Qualtrics investor).