Valentine's Day, according to a recent American Express survey. That's a lot of bended knees and diamond rings; but how many of these proposals will come from members of Generation Y?
Also known as the Echo Boomers and Millennials, the generation born
between 1982 and 1995 is showing a reluctance to tie the knot. As of
only 21 percent of Echo Boomers were married, according to the Pew Research Center, and a
whopping 75 percent had never married. Some 15 percent of adults younger than 35 said they have
postponed getting married because of the recession.
But things are looking up as the unemployment rate goes down and the real estate market looks even more enticing for buyers.
Gen Y now tops out at 30 years old and many are looking to settle down. A survey from Trulia
revealed people between the ages of 18-34 still believe in the concept
of home ownership. For 65 percent of those surveyed, their American
includes marriage and feathering their new nests.
Many Millennials are moving directly from their parents' basements and
into their first homes. That means they haven't collected the bare
necessities, such as linens and kitchenware, much less major appliances.
That doesn't mean they haven't defined their tastes, however. Most
already know what they want and would prefer to select home items for
As a result, Echo Boomers are steadily moving toward requesting money as
wedding gifts. Others prefer to avoid asking for cash by participating
in a wedding registry for gift cards at such websites as CardAvenue. They can sign-up to receive gift cards
from preferred stores, but make the final purchases themselves.
A gift card registry also allows soon-to-be-weds to register for more
unusual stores, where they can find gear to fuel their camping habit or
buy home-renovation materials.
"To celebrate our marriage, we're planning a California road trip - the
first experience in a lifetime of shared memories," says couple Marlene
and Derek, due to be wed in April. "Our CardAvenue registry will help
guests find items for our road trip as well as a few items needed for