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Chapter 13

 Home Depot: Compensatory Consumption by Marycruz 

After reading the chapter, the first thing that came to mind was how popular succulents and plants have gotten at Home Depot. This relates to the topic compensatory consumption because it is the consumer behavior of buying products or services to offset frustrations or difficulties in life. Recently, on social media a lot of videos have come upon people who have felt sad or agitated from being inside their homes for so long like to buy flowers for their home and many of these people have not stopped buying flowers like succulents from Home Depot. 



Social Class Dynamics
By: Niousha Khosrowyar 

For decades, a majority of Americans have been able to climb the economic ladder by earning higher incomes than their parents. These improving conditions are known as upward mobility, and form an important part of the American Dream. However, each consecutive generation is finding it harder to make this ascent. Millennials are often seen as a generation of renters, but many of them want to buy homes — it's just much harder for them to do so. Millennials buying their first home today are likely to pay 39% more than baby boomers who bought their first home in the 1980s. One factor behind America’s deteriorating upward mobility is the sluggish pace at which wages have grown. For example, the average hourly wage in 1964, when converted to 2018 dollars, is $20.27. Compare this to $22.65, the average hourly wage in 2018. That represents a mere 11.7% increase over a span of 54 years. The millennial generation is also working on paying off record levels of student-loan debt, making it difficult to take on a mortgage loan. This directly affects Home Depot as most of their sales are based on home improvements. If millennials aren't able to own homes, or homes as big as baby boomers, this will lead to a decrease in home improvement sales at Home Depot.


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