I came across an article in the Futurist Magazine that shares their top ten forecasts for 2014 and beyond. I was a pleasantly surprised to see their number five prediction:
5. Buying and owning things will go out of style.
The forecast: “The markets for housing, automobiles, music, books, and many other products show a common trend: Younger consumers opting to rent or subscribe to pay-per-use arrangements instead of buying and owning the physical products. Shared facilities will overtake established offices, renting units will become more common than owning a home, and sales of books and music might never become popular again.” From “Consumption 2.0,” by Hugo Garcia, January–February, 2013.
How’s that for an interesting prediction? I could see how this could happen in the future, but I feel like it might take a while before the prediction comes true. There are a number of us that have already found the benefit of renting or borrowing versus buying and owning.
I love all the benefits of renting. We find we have much more freedom when we aren’t tied down with all the responsibilities of owning. I also like subscriptions versus owning things as in the case of using Netflix or Amazon Prime rather than owning DVD movies.
It will be interesting to see where the future takes us in terms of rent versus own. What are your thoughts?