'Throw-away' society favours renting to buying

  • 07/04/2016
'Throw-away' society favours renting to buying

The mantra, "Why buy when you can rent?" has never been truer than it is for millennials.

But what used to be to relevant just for flats and cars now applies to just about anything.

From bikes to books, to cars and clothes, there's no more buying -- everything seems to be for rent now.

One renter says it's more cost-effective.

"If you're not going to use something more than once, why pay full price for it to use it once?"

Renting is a top consumer trend for 2016 according to marketing expert Audrey Guskey.

She says it's about today's lifestyle.

"We are a throw-away society and we found that people don't want a lot of stuff," Dr Guskey says.

Need a dress? There's Rent the Runway for that. Need some green space? You can rent a backyard. 

"[There are] a lot of things you can rent that you would never dream of renting," Dr Guskey says.

You've heard of AirBnB for vacation homes, how about AirPnP, where you can rent a bathroom?

It can come in handy in busy cities where a bathroom is hard to find.

There are usually dozens for rent along the Mardi Gras parade route in New Orleans.

You can even rent a casket at Lanigan Funeral Home in Pittsburgh. It's US$890 dollars, compared to buying one for a couple of thousand. 

It's an option for someone who wants to be cremated, but also wants a viewing.

"We reuse it a couple of times and then are able to use that casket and present it to someone at a deep, deep bargain rate," says funeral director Patrick Lanigan.

Renting is popular with millenials and the trend is only expected to grow.

CBS News

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