A new survey by Insider and Morning Consult reveals that Millennials are more likely than previous generations to postpone major life events—buying a home, getting married, quitting a job, and more— because they cannot afford them. Money concerns, whether it’s student debt, living costs or still recovering from the Great Recession, are not only affecting their financial and physical fitness but also their romantic lives.
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We often hear that Millennials are currently driving the housing market. This rings true even for those in their 20’s nearing their 30’s, a prime time for first-time buyers. In a recent report, Realtor lists the most popular U.S. cities for Millennial homebuyers between the ages of 20 and 29 by looking at where they took out the highest percentage of mortgages last year from a pool of 200 large metropolitan areas.
A new study by Clever Real Estate indicates that the Millennial generation is well on its way to becoming the driving force in the housing market. Buyers 37 years and younger make up the largest share of homebuyers at 36 percent, despite the fact that homeownership rates remain highest among those aged 65 and older as the U.S. Census Bureau reveals. Millennials still see owning a home as part of the American dream, and real estate agents should prepare themselves to better serve this new generation of buyers.
The National Women’s Business Council (NWBC) has released a new report profiling millennial women entrepreneurs, and the opportunities and challenges they face. The profile includes informative qualitative and quantitative data and research focus groups for a comprehensive look at how the millennial generation, those born between 1982 and 2000, view entrepreneurship and how obstacles such as student debt inhibit millennial women from pursuing running their own businesses.
A paper released by the U.S. Census Bureau reveals that a smaller share of Millennials are getting married, compared to previous generations at their age, due to economic concerns. Labor force participation, wages, poverty and housing costs and living arrangements are strong factors causing young adults aged 18 to 34 to delay marriage.
A recent study from the Boston Consulting Group reports that millennial men are more receptive than older men to women’s issues in the workplace. When compared to their older counterparts, millennial men are more likely to be in a dual-income household, contribute to child care, desire paid parental leave programs, and to “adapt their behaviors in support of their female coworkers.”
A new report from the National Women’s Business Council (NWBC), Millennial Women: The Future of Entrepreneurship in America, examines the perception of this demographic in comparison with their true state, offering a detailed look at millennial women entrepreneurs and their future as influencers in the business world.
Millennials have this enigmatic aura around them. Older generations scratch their heads trying to make sense of them as if they are extraterrestrials with green-and-white colored coffee cups in one hand and smartphones in the other, who bond by laughing together over memes on Instagram.
Millennials comprise individuals between 18 to 34 years old, and, according to a Pew Research Center poll, they are “the single largest generational segment in the United States.” Huffington Post states they are also the most ethnically diverse generation so far, most likely to have lived in more urban areas than their predecessors. While a majority are employed, a third of Millennials are still pursuing various education levels, which means that their spending power will only soar over time.
Just as those in the industry may feel clueless about this nascent, yet influential, generation, Millennials are just as oblivious about the opportunities available to them in this business sector. We look to provide some insight on how to bridge the gap separating Millennials from the housing ecosystem, an invaluable pairing in increasing diversity in the industry.
To figure out how to make the industry stand out to college students gearing to enter the labor force, we must first understand what they want from their jobs. The Harvard Business Review characterizes Millennials as “job-hoppers” and “the least engaged generation,” both of which contribute to their requirements for job satisfaction.
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