OPINION: The idea that the young are feckless spendthrifts who can't afford homes because of their designer lifestyles has been laid to rest.
Treasury boffin Mark Vink was the killer.
Vink delved into historic spending figures, and found that the much-maligned Millennials in fact have higher savings rates than baby boomers did when they were the same age.
from
http://www.stuff.co.nz/business/money/90889022/Rob-Stock-Baby-boomers-think-the-young-are-feckless-but-they-re-wrong
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