Latest news with #Gen-X
Courier-Mail
3 days ago
- Business
- Courier-Mail
Buying a home 5 times harder now than in 1980
It is now five times harder for young Queenslanders to buy their first home than it was for their Boomer and Gen-X parents, according to shock new analysis exposing the enduring impact of the nation's longest property boom. Extensive PropTrack analysis over 45 years shows a typical house in Brisbane, which cost just $32,750 in 1980, is now valued at an astounding 420 per cent more in 2025 when adjusted for inflation. That's because the $32,750 spent on a home in 1980 equates to about $174,600 today, but the current median house price has skyrocketed to $910,000. The analysis reveals how much harder it is for the current generation to buy property compared to their parents' era, and has prompted experts to sound the alarm for first home buyers as saving for a deposit becomes more out of reach than ever before. SEE WHAT HOMES REALLY USED TO COST IN YOUR SUBURB PropTrack economist Angust Moore said young people were taking longer to enter the market, relying more on family support, or accessing government incentives to buy with a smaller deposit. 'The deposit hurdle is just unequivocally harder than it was four or five decades ago, and that has manifested in home ownership rates which have fallen over those years,' Mr Moore said. He said lower interest rates now than the 1980s and early 1990s, when they surged to a high of 17 per cent, had helped drive up property prices in that time due to greater competition and demand. Brisbane's median value surged from $32,750 in December 1980 to $95,000 in December 1990, $152,000 in 2000, $465,000 in 2010, and $910,000 by March 2025. Brisbane units show a slightly less dramatic trend, rising from $38,750 in 1980 to $636,000 today. The trend played out differently across suburbs, with blue-chip as well as entry-level areas included among the most striking examples of real price growth. A typical home in inner-city Hawthorne, priced at $2.125m in 2025, is worth more than ten times its inflation-adjusted 1980 value of $164,500. In Woodridge, homes cost $24,950 45 years ago – equal to about $133,000 today. But the Logan suburb's current median house price is $650,000. The long boom on the back of the Covid-19 pandemic has seen prices rise even more sharply than in the 1990s, when rates plummeted and the real estate market flourished. Newstead locals and engineers Toby Tremain and Georgia Stel, both 25, said they were being pushed out of their preferred suburb by astronomical house prices and currently preferred to rent and live in the city. 'We are both open to owning an apartment, we're not like we must have a house and live in the city,' Mr Tremain said. 'I understand that's not feasible. 'But I think the trade-off is, like living in this area right now for us is really enjoyable.' Rising prices aren't exclusive to the capital, with regional and coastal centres also recording huge real growth. On the Gold Coast, houses in Surfers Paradise were already more expensive than Brisbane in 1980 at $74,500. That figure would be equivalent to $397,200 considering rising living costs, yet a typical home in the Glitter Strip now costs $1.35m. Another Gold Coast example, Ashmore, was closer to Brisbane's median in 1980 at $43,950 — $234,300 in today's dollars. Its current house price is $1.138m. Further north, a house in Aitkenvale, Townsville had a median of $29,625 in December 1980, or $158,000 adjusted. It's now worth more than three times that amount at $514,000. Real Estate Institue of Queensland (REIQ) CEO Antonia Mercorella said price growth was driven by a chronic undersupply of housing. 'Scarcity continues to put upward pressure on prices, particularly impacting first-home buyers who now face a vastly different affordability landscape than previous generations,' Ms Mercorella said. 'If we want to enable sustainable price growth and ensure future generations the same opportunity to own a home, housing policy must be squarely focused on supply. 'Any attempt to improve affordability without significantly increasing housing stock is doomed to fall short.' MORE NEWS Secret tactics of dodgy agents exposed Real estate playboy spills on Aussie market Byron Bay's Beach Hotel sold for $140m Buyers agent Alex Pope said Baby Boomer and Gen X homeowners were unlocking equity in their properties to help younger family members buy through a guarantor loan. 'First-home buyers are often getting support from mum and dad, and in some ways it's very easy for the older generation who have fared really well from the market to do this,' Mr Pope said. 'As a young person who may have just started in a career, recently moved out of home and paying rent, you're in a really expensive time of life while your income is probably still quite low, so getting the deposit is the hardest part.' Mr Pope advised young buyers to treat their first home as a stepping stone – 'your first home isn't your last, but it does catapult you to the next'. By starting in a duplex, unit, or renovator, young buyers could build equity and eventually move into a more ideal property as their careers and incomes grew, he said. Only a tiny number of suburbs across Greater Brisbane remained at 2000 or even 1990 prices. Russell Island was most frequently highlighted in the data as having current prices comparable to historical values of various other suburbs. Prices in a handful of other outer suburbs including North Booval, Logan Central, Goodna and South Brisbane units were now on par with some values from 20-plus years ago. But the overwhelming majority of homes had now well-surpassed those old benchmarks, cementing a major decline in affordability.
Yahoo
27-05-2025
- Business
- Yahoo
If You Think Gen-Z in the Workforce Sucks, Here's Why It's Not Your Imagination
Ever get the impression that Gen-Z is lazy and shiftless? According to a slew of recent studies, you're not alone. Sites from Fortuneto Resume Builder have run stories on how disappointing recent college graduates have been in the workforce, and how their managers are so fed up that they actively avoid hiring them. Companies and hiring managers agree that Gen-Z — which makes up folks born between 1995 and 2012 — is unmotivated, unprepared and unprofessional. They don't have the stamina or the desire to do the work, and worst of all, they don't feel like they should have to. Of course, this disproportionately impacts potential Black hires, according to a study from Oxford Economic Journal that confirms Black folks are scrutinized more in the workplace — as we always have been. Of course, I didn't need any studies to tell me how bad things are with Gen-Z: As a Black, tenured professor at a private university in New York and a hardworking, independent member of Gen-X, I've seen firsthand how so many of my students don't have what it takes even to do an unpaid internship well, much less a job. tiktok-7451234049433013547 During the COVID-19 pandemic, when many classes were held via Zoom, one young man showed up on camera shirtless and reclining in his bed. I had to send him a private message to put a shirt on. Others address me casually in emails by my first name, even though I'm a tenured professor with a Ph.D. I've had students argue with me about assignments and skills needed even though I have more than 30 years of experience in my field. Once, I assigned an important film to a Oscar-winning classic that made its mark on American culture 50 years ago. A student who'd been argumentative all semester — and whose essay response was written with the grammar skills of a small child — complained in response to her low grade that she just didn't like to watch movies. She just couldn't focus her attention on something that long and boring, she said. But none of this compares to an off-campus incident I happened to witness recently. This one took the cake as a mix of Gen-Z entitlement and white male superiority. I was at Burlington's where about two dozen people waited in line. All of them were Black or Latino, several with grandparents and baby strollers. Only three cashiers were working, all of them young, Black women. That's when two tall white male jocks strolled past the line of people and presented themselves to checkout like it was nothing. They waved something at the cashier, maybe a phone charger, and said they 'just had one thing.' They expected to be checked out, right then and there, ahead of everyone else. What was even more shocking was that the cashier didn't register a thing as she lackadaisically started to ring them up. tiktok-7480961681967893790 'Oh, heeeeeell no!' I called out from my place in line. 'Who do you think you are, jumping ahead of all these people?' Jock boys flashed me a couple of dirty looks, turned on their jock heels, and left. If anybody is crazy enough to hire one of these arrogant kids, just know that they're never going to do any kind of real work. Because they just don't want to. And they don't see why they should. There are exceptions, of course. Every semester I have at least one student that blows me away with their kindness and passion for knowledge. I know they have what it takes because they answer emails right away, never have any kind of attitude, and jump right on anything needs to be done. These are students who understand that they're living in a harsh, unpredictable world. They know they need to give 1,000 percent if they're going to survive. For them, I'll do anything I can to make sure they make it. For the latest news, Facebook, Twitter and Instagram.
Chicago Tribune
23-05-2025
- Entertainment
- Chicago Tribune
Las Vegas luring millennials, Gen-Z visitors with pool parties, craft cocktails, influencer experiences
Their grandparents lined up for buffets, and their parents came for Celine Dion. But millennials and Gen-Z are coming to Las Vegas for something else entirely. Nearly half of the city's visitors last year were millennials or Gen-Z, according to the Las Vegas Convention and Visitors Authority's 2024 visitor profile report. Despite the perception that they are still 'only kids,' all but the youngest millennials are in their 30s and 40s, while most of Gen-Z is of legal voting age. And although their spending and gambling habits differ from previous generations, millennials and Gen-Z are a very valuable cohort for Las Vegas casinos. 'In an environment of increasing competition, it is vital that (casino) operators focus on delivering quality, distinctive experiences that not just meet but often exceed patron expectations,' said Sarah Grady, assistant director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at the Stockton University (New Jersey) School of Business. That realization is prompting casinos across Las Vegas to carefully consider how they attract and retain consumers who may be less interested in jackpots and more driven by experiences. Evidence of that shift can be seen in nearly every Las Vegas casino. Massive nightclubs, energetic pool parties featuring world-renowned DJs, celebrity chef restaurants, bars and lounges with craft cocktails designed to be photographed, and slot machines that look more like video games than gambling devices have become commonplace. Jonathan Jossel, chief executive officer of the Plaza hotel-casino in downtown Las Vegas, said non-gaming amenities are 'really important' to operators in 2025. 'It's really events that differentiate us from other places,' Jossel said, listing some non-gaming offerings at the property, such as pickleball, rodeo and free fireworks. 'These events make a big difference in making us more relevant online, and that (attention) is from the younger demographic.' Cliff Atkinson, president of Virgin Hotels Las Vegas, said millennials and Gen-Z visitors are seeking 'well-rounded experiences,' that include a little bit of everything the city has to offer. 'While gaming remains a key attraction, these generations are also drawn to the city's diverse wellness and culinary offerings,' he said. 'For millennials and Gen Z, we've seen that their perfect vacation blends the excitement of gaming with relaxing poolside moments, top-notch entertainment and delectable cuisine.' While that might not sound all that different from what previous generations sought in their Vegas vacations, the data suggests otherwise. According to the LVCVA report, millennials (born between 1981 and 1996) spent an average of $768 gambling, $637 on food and drinks, $63 on shows or entertainment and $47 on sightseeing. Gen-Z (born between 1997 and 2012) spent, on average, $575 in the casino, $541 eating and drinking, $94 at concerts or shows and $62 sightseeing. Comparatively, Gen-X (current ages between 45 and 60) spent, on average, more on gambling ($873) and less on shows/entertainment ($56) and sightseeing ($35) than either of the other two generations. Gen-X's spending on food and beverages ($617) was less than millennials but more than Gen-Z, according to the LVCVA report for last year's visitors. Gen-X also spent less per night for hotel stays ($167) than either millennials ($192) or Gen-Z ($171), likely due to receiving more comped rooms tied to higher gambling spend. Changing consumer behaviors also plays a part in how Las Vegas casinos are attempting to appeal to the two younger generations. For starters, overall attitudes toward gambling as a socially acceptable activity continue to favor casino operators. Bally's Chicago gets green light from Illinois Gaming Board to resume constructionAccording to recent research by the American Gaming Association, roughly 9 in 10 Americans believe casino gambling to be acceptable for themselves or others. Fifty-nine percent (the highest ever) found gambling personally acceptable. More than 55 percent of U.S. adults participated in some form of gambling (including lottery) in 2023. As of August, 49 percent (122 million people) visited a casino for gambling or other entertainment purposes within the past 12 months, the highest level of casino visitation on record. 'There has also been an increase in the number of individuals that believe that the value of casino entertainment is 'excellent/good compared to alternatives' and that casinos are innovative,' Grady said, citing the AGA's research. 'These findings, added to the fact that the average age of casino visitors has dropped from 47.5 in 2014 to 41.9 in 2024, could suggest that younger generations have a generally positive impression of gaming and an interest in participating.' Millennial and Gen-Z gamblers are also drawn to digital options. Online casino gaming, or iGaming, is available in six states and online poker is offered in Nevada. Online sports betting, which is now legal in 34 states and the District of Columbia, is the fastest-growing segment of regulated gaming in the United States. Grady said some casino operators are parlaying that interest into tangible returns. 'While perhaps not a major revenue earner for the industry, sports betting taps into younger generations' familiarity with sporting contests and engages them in a casino experience that does not rely on knowledge of more traditional casino products,' she said. 'Once they've had the chance to experience the casino environment through sports betting or other gaming products, they have an opportunity to explore everything else casinos have to offer.' Not every casino is chasing millennials and Gen-Z the same way. Some, such as Jossel, believe patience and waiting for consumers to age into traditional habits might be just as effective as constant reinvention. 'Everyone gets older, and their tastes evolve. Just because you're doing something in your 20s, 30s or 40s doesn't mean you're going to be doing that in your 50s, 60s and 70s,' he said, leaning on prior discussions with patrons who played bingo today but did not when they were younger and visited casinos in Las Vegas. 'So, this idea of everyone saying we need to adjust our marketing plan to target the young people never really resonated with me.' Jossel admits the newer slot machines, which more closely resemble a computer game than a Vegas-style one-armed bandit, have forced him to look at the situation differently. He said younger gamblers are spending more time, and more money, on these sleek-looking machines with fancy graphics and interactive components. 'Games have bets that range from 40 cents up to $40 or $50, and I see these young people playing $20 a spin, no problem. In the old days, you just never saw that. You just never, ever saw people betting those big numbers,' he said. 'And I got to believe that's the new product, the new games, but also the impact of the influencers on social media.' Even if behaviors are shifting, traditional casino games are still relevant to younger audiences, said Atkinson. 'The rise of gaming influencers on YouTube, Instagram and TikTok has sparked a renewed interest in traditional games among younger generations. These influencers are engaging their audiences on social media, enticing them to visit casinos for an authentic gaming experience,' he said. 'While online gaming and sports betting remain popular, there's still a strong desire for the tangible gaming experiences that Las Vegas offers.' In other words, while their grandparents were piling buffet food on their plates, and their parents sang along to Celine's classics, this new generation is coming to Las Vegas for craft cocktails, video-game-inspired slots and influencer-driven experiences. All of which Vegas has plenty to offer.
Yahoo
22-05-2025
- Business
- Yahoo
New 2025 State of the Cruise Industry Report Shows Cruising is a Vibrant Tourism Sector Growing Steadily to Meet Rising Consumer Demand and Delivering Significant Global Economic Impact
Latest trends in cruising reveal a dynamic sector driven by a breadth of experiences The cruise industry continues to attract passengers of all ages, with Gen-X and Millennials leading the way. From family-friendly adventures to high-end cultural journeys, cruise lines are continuously innovating to fulfill the aspirations of global travelers. Steady and responsible industry growth continues with 37.7 million cruise passengers projected in 2025 and consumers showing strong intent to cruise – 82% of cruisers will cruise again and 68% of international travelers are considering taking their first cruise. With more than $168 billion in global economic impact and 1.6 million jobs supported, the value of cruise tourism to communities is clear. WASHINGTON, May 22, 2025 /PRNewswire/ -- Cruise Lines International Association (CLIA), the leading voice of the global cruise community, has released its annual State of the Cruise Industry report highlighting the industry's vibrancy driven by travel trends, diversity of cruising choices, and innovative travel experiences aligned with increasing consumer demand. "CLIA's 2025 State of the Cruise Industry report shows that cruising continues to be one of the most dynamic and resilient sectors in tourism, growing in line with strong demand for cruise holidays, particularly among younger generations and new-to-cruise travelers," said Bud Darr, president and CEO of CLIA. "The industry is also an essential economic driver, contributing over $168 billion to communities around the world, supporting 1.6 million jobs and investing tens of billions today in the sustainable fleet of the future." 2025 Trends Showcasing a Vibrant Travel Sector First-time cruisers are driving growth with 31% of passengers in the last two years being new to cruise, reflecting the sector's high satisfaction ratings and ability to attract new customers. Intent to cruise: 82% of those who have cruised plan to cruise again. Gen-X and Millennials are among the most enthusiastic cruisers, drawn to the variety of cruise experiences, ability to visit multiple destinations and value of a cruise holiday. Multi-generational travel: Cruise holidays offer experiences for all ages – nearly one third of cruise guests sail with three or more generations. Cruise travel earns higher satisfaction ratings compared to other holiday choices as shown in repeat factors – 25% of repeat cruisers sail two or more times per year; 14% of cruise travelers cruise twice a year; and 11% of cruisers take three to five cruises a year. Expedition and exploration cruises are the fastest-growing segments of cruise with 22% more passengers choosing these voyages in 2024 over 2023. Cruising Features Choice, Value, and Sustainability Variety of choice: With over 300 ocean-going cruise ships and thousands of itineraries to choose from, there is a cruise for everyone. From family-friendly adventures to high-end cultural experiences to expedition journeys, the cruise industry is constantly evolving to fulfill the interests and aspirations of travelers. Responsible tourism: Cruise guests book their trips well in advance and cruise companies reserve port calls a year or more in advance, demonstrating that cruise tourism is managed tourism. Cruise is pursuing a variety of sustainable alternative energy sources and investing in propulsion technologies with conversion capabilities that can be adapted for use of low-to-zero-emissions fuels once they are available at scale. By 2028, 50% of all new cruise ship capacity will have engines that can run on LNG/methanol and are able to switch to bio- or synthetic-LNG with little or no engine modifications. More than 61% of CLIA's fleet is equipped to be able to connect to onshore power, a figure set to reach 72% by 2028. Important Economic ContributorWhile only two percent of global tourism, the cruise sector has significant economic impact in communities around the world, generating over $168 billion in global economic impact in 2023 – the highest on record. In the U.S., the cruise industry supported over $65 billion in total economic impact in 2023, supporting 290,000 jobs and $25 billion in wages and salaries. In addition, the cruise industry's impact benefits communities around the world through local sourcing of goods and services, and spending before and after each cruise as 69% of passengers stay one or more nights in a hotel. Additionally, 6 in 10 cruisers return to a destination they first visited by cruise, extending the economic impact of cruising to communities well into the future. The global cruise industry welcomed 34.6 million cruise passengers in 2024, with 37.7 million expected in 2025. North America remains the top source market for cruise, with a 13% increase in 2024 over 2023. In 2024, Caribbean/Bahamas/Bermuda itineraries remained the most popular, with 43% of all cruise passengers sailing to the Caribbean in 2024, followed by the Mediterranean and other European destinations. CLIA member lines will welcome 11 new ships to the global fleet in 2025; 56 new CLIA member ocean-going ships are on order from 2025-2036, representing a $56.8 billion investment and proof of the confidence in cruising's future. To put the industry growth in context, over 70% of cruise ships are small to mid-size – both now and through the 2030 orderbook. To view the full 2025 State of the Cruise Industry Outlook report, visit here. See CLIA's full Contribution of Cruise Tourism to the Global Economy 2023 report here. About the Cruise Lines International Association (CLIA)Cruise Lines International Association (CLIA) is the preeminent cruise trade association, providing a unified voice for the industry and its members as the leading authority of the global cruise community. CLIA represents oceangoing member lines which comprise more than 90% of global cruise passenger capacity, including the world's most prestigious ocean, river, and specialty cruise lines, as well as a business community of leading ports, destinations, shipyards and maritime product and service providers, and the largest network of travel professionals who specialise in cruise travel. Together with its members and partners, CLIA supports policies and practices that foster safe, secure, healthy and sustainable cruise operations; tourism strategies that maximise the socioeconomic benefits of cruise travel; and technologies and innovations designed to support the industry's pursuit of net zero emissions by 2050. The organization's global headquarters are in Washington, DC, with regional offices located in North and South America, Europe, and Australasia. For more information, please visit or follow us on Facebook, Instagram, X (formerly Twitter), and YouTube with our handle @CLIAGlobal—or on LinkedIn. View original content to download multimedia: SOURCE Cruise Lines International Association (CLIA) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-05-2025
- Entertainment
- Yahoo
Older Adults Are Sharing The Products And Trends That Were All The Rage Back In The Day That Have Disappeared Entirely
Though trends and products are often reimagined and revisited every few decades, many end up vanishing from present-day society completely!! So we recently asked the older folks (Boomers, Gen-X, and older Millennials) of the BuzzFeed Community to share which trends or products were once popular but have since disappeared. Here are their responses! 1."Department store catalogs just before Christmas and going directly to the toy section in the back to circle what you wanted for Christmas." Ames / Via —homeychef856 2."Napkins that fit on your lap. They are all so small and thin now, they don't even lie across your leg, nor do they do the job when wiping your hands. Even using several modern napkins together doesn't really work…so we all look like rude slobs now. Good luck finding a decent hand towel when you use the washroom… if they exist, hope that 3' worth helps, if you can get the dispenser to cooperate." —dizzyking434 3."The decline of civilization began when they stopped putting toys in cereal boxes." —sparklesthecupcake "In the 70s, cereal boxes had single-song cardboard 'records' on the back that you popped out and they played on a phonograph. My first was 'Sugar Sugar' by The Archies." —emoswan12 4."Event television. There were shows or programming that, if you missed it, there wasn't any other way to watch unless there were reruns. You had to watch it at the time it was airing and talk about it the next day." —givemeallthebooksandtea 5."Prank Calls! It was so much fun to make a silly, anonymous phone call to your friends, your enemies, or even your grandmother. It would be hard not to laugh while changing your voice to pretend to be someone else. To this day, Grandma still doesn't know how Elvis got her phone number." —Anonymous, 46, North Carolina 6."The Avon Lady coming to your house and leaving those tiny lipstick and perfume samples." —ginnyjensen 7."Paper maps. I grew up with one of those thick Rand McNally map books in the car when we took long road trips. Navigating in a completely foreign area was a fun activity." —syringistic 8."8-track tapes and their players. Sometimes the song would click to the next track while it was playing, and you couldn't rewind to listen again." —shaboomer 9."Kids will never know the joy of going to Radio Shack and checking out toys, gear, and all the batteries you could buy! Walkie Talkies! Tesla Lightning Globes and Tandy Tandy Tandy toys! It was Best Buy before there was Best Buy!" —tendtomebollocks 10."Remember stores where you could listen to CDs with headphones before buying?" —sparklesthecupcake 11."Play places at fast food establishments. There aren't that many that still have them." —u/justhewayouare 12."Voiceovers in movie trailers. For some reason, I can't think of when exactly they died out. I just remember that they were a thing, and then they weren't." —u/Sugarbear23 13."Does anybody else remember that trend where handlebar mustaches were put on everything? Pillows, shirts, etc. Like, some people even got them tattooed on their finger so they could put it on their lip and pretend they had one?" —u/CalypsoCrow 14."Oatmeal used to contain a small milk glass or dish towel as a free gift, packed inside the oatmeal container. When I was a child, the milk glass was actually made of glass! It's scary to think about it now. By the time I was a teenager, it was a plastic cup. Now you get nothing!" —Anonymous, 59, Texas 15."Salad bars. In the '80s, every restaurant had one, even some fast-food burger places like Wendy's." —u/MarshmallowSoul 16."Cracker Jack boxes had real prizes in them, not paper or little pieces of plastic. I remember the first time my prize was a piece of paper. We stopped buying it. The box before that had a yo-yo in it, and another had a watch." —Anonymous, 64, Idaho 17."Cigarette lighters/ashtrays in cars." —u/Timmy26k 18."Quality of clothing. In the eighties, I wore Forenza, OBR, Benetton, to name a few. In the nineties, I was all about Old Navy and Gap. As I write this response, I'm wearing Gap jeans and a Gap shirt. Years ago, I could get a tear in an article of clothing, and it was barely noticeable. Now, if I get a tiny tear, the material is thinner, so it tears easily." —Anonymous, 52, Chicago 19."One trend I miss is simply being in the moment — before smartphones turned every experience into a photo op. There was a time when vacations, concerts, family gatherings, or even a simple night out felt more genuine because we were actually present. Now, even if I choose not to record something, the moment is disrupted by others who feel compelled to document every second. Let's be honest—no one's going to rewatch that shaky, overexposed video of last year's 4th of July fireworks." —Anonymous, 41, Oregon What other once-beloved products and trends from the past have completely disappeared? Let us know in the comments! Some submissions have been edited for length and/or clarity.
