Note to Home Builders and Car Companies: Millennials Want Experiences, Not Things

"It's not just cars that millennials question owning," writes Nelson. "Nearly any possession you can think of stopped being an 'of course' and became a 'hmmmm' for millennials. [Jill Hennessy, clinical professor at the Kellogg School of Management at Northwestern University] says they're wondering whether 'it's not so great to own everything anyway.' She says the economy has been a big part of that shift. Millennials have witnessed the worst economic downturn since the Great Depression. They've watched their parents struggle with financial insecurity no matter their education level."

"For someone born before Ronald Reagan was in office, this sounds like a nightmare," adds Nelson. "But Hennessy says that millennials are so gosh-darn optimistic that they put a positive spin on it. 'They're much more likely to find value in experiences than they are to find value in things,' she says."