To rent or not to rent is something millennials have figured out. The renting culture has grown over time and people are renting everything from furniture, cars and houses to clothes, bags and music. Millennials opt for this more, which is why they are knows as the rent generation. Is this practice beneficial? We speak to UAE residents.
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00:38I definitely feel I'm part of Generation Rent
00:40as I feel that there's a growing trend in my generation
00:43to rent everything from big ticket items
00:46like homes and cars
00:48to even the less expensive items
00:51even the disposable items
00:53I personally haven't rented
00:55most of the smaller items I have are bought out
00:59but yes, I still am aware of many people my age and my generation
01:03that do rent clothing, small luxury items
01:07watches, stuff like that
01:09in many cases, houses, it's very popular
01:12if you do the math on it
01:15it proves out that renting is cheaper than owning a house
01:18so in that case, yes, it would be beneficial to rent
01:21but if it's something that's a consumable, discretionary spending item
01:25where whatever money you spend is cash burnt
01:28then maybe not
01:30Generation Rent, do I fit into that bracket?
01:33I don't know, I think it switches with different things
01:37so with clothes, I want to wear my own clothes
01:40maybe I don't subscribe to the party and Instagram dress culture
01:45but I really like to own clothes as if they're an extension of myself
01:49and it adds meaning and stories to my life
01:53so clothes, no, but furniture, yeah
01:56I would love to rent it because I get bored of things
01:59so of course, ownership adds to the permanence of things
02:02if you are making a decision every day to continue in something
02:06whether that's a house or a relationship even
02:09you're more likely to get the repair work done
02:13and paint your house and decorate it because it's yours
02:16it might not happen when it's something that's rented
02:19so I definitely feel ownership adds a lot of grounding and value