WEBVTT - Millennials Buy Homes For Their Dogs

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<v Speaker 1>Welcome to brain stuff from how stuff works. Hey, brain stuff,

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<v Speaker 1>it's Christian Seger here. Millennials tend to get a bad

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<v Speaker 1>rap for being different from the generations that precede them,

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<v Speaker 1>and honestly, what generation didn't. And while there's little evidence

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<v Speaker 1>to back up the stereotypes about Americans roughly aged from

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<v Speaker 1>eighteen to thirty nine, one thing is certain. Millennials make

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<v Speaker 1>up the largest generation in US history, and despite their

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<v Speaker 1>historic low rate of home ownership, thirty one percent of

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<v Speaker 1>millennials owned homes in and this is according to Harvard's

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<v Speaker 1>Joint Center for Housing Studies Improving America's housing as of seen.

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<v Speaker 1>But why they're buying these homes might surprise you, and

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<v Speaker 1>it's it's not after they've gotten married or when they're

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<v Speaker 1>planning for the birth of a child. No, they bought

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<v Speaker 1>a home to have more space and a better yard

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<v Speaker 1>for their dogs. That's right. A survey released in late

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<v Speaker 1>July by Harris Pole and Son Trust Mortgage found that

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<v Speaker 1>as many as a third of millennials who purchased their

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<v Speaker 1>first home say they did it for their furry friends.

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<v Speaker 1>And get ready for this fun fact. Several studies have

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<v Speaker 1>shown that children who grow up in homes with dogs

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<v Speaker 1>are less likely to have allergies and be obese. Researchers

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<v Speaker 1>say the exposure the kids have with dogs gave them

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<v Speaker 1>higher levels of something called gut microbes that help prevent

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<v Speaker 1>allergies and obesity. So maybe we love our dogs because

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<v Speaker 1>they make us healthier. A late sixteen Mentel study found

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<v Speaker 1>that seven and ten millennial men and three and five

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<v Speaker 1>women now own dogs. In fact, seventy five of older

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<v Speaker 1>millennials those are ages thirty to thirty nine have dogs,

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<v Speaker 1>and they're willing to shell out cash for them, which

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<v Speaker 1>is good news for the pet industry. In alone, Americans

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<v Speaker 1>spent sixty six point seven five billion dollars on things

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<v Speaker 1>like pet food, leashes, collars, and vet care. And I

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<v Speaker 1>was right there with everybody else spending money on my dogs.

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<v Speaker 1>Millennials in particular, aren't afraid to spend cash on their pets.

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<v Speaker 1>Seventy six percent said they'd happily splurge on items like

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<v Speaker 1>expensive treats and custom beds and perhaps a new house.

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<v Speaker 1>Today's episode of brain Stuff was researched and written by

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<v Speaker 1>Sarah Glime and produced by Dylan Fagan. For more on

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<v Speaker 1>this and other topics, visit us at how stuff works

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<v Speaker 1>dot com.