2024-05-13 | economy retirement
... etirement (non-retired 18- to 54-year-olds). As a result, nearly 1 in 3 (31%) non-retired investors believe an economic recession poses the most immediate challenge to their retirement portfolio over the next 12 months, and over half (53%) of non-retired investors expect interest rates to be increased 12 months from now. These factors are forcing investors to consider a difficult reality — that the concept of an accessible and absolute retirement is no longer a realistic post-career possibility. More than a quarter (27%) of all non-retired investors would likely be forced to return to ...
2024-04-09 09:25:00 | cryptocurrency demographics real estate
... ghlight the varying financial attitudes and practices across different generations, reflecting broader economic trends and the influence of technology and social media on financial decision-making....
2024-03-12 23:15:00 | consumers economy
... t 3.9%.Median year-ahead expected growth in government debt increased to 9.3% from 8.9%.The mean perceived probability that the average interest rate on saving accounts will be higher in 12 months increased by 0.6 percentage point to 26.1%, remaining below its 12-month trailing average of 30%.Perceptions about households’ current financial situations deteriorated somewhat with fewer respondents reporting being better off than a year ago. Year-ahead expectations also deteriorated marginally with a smaller share of respondents expecting to be better off and a slightly larger share of responden...
2024-03-12 08:42:12 | retirement
... Z and Millennials cite becoming debt-free or reaching career goals as top factors; whereas Boomers say they’ll retire when they emotionally ‘feel’ ready. One-in-10 Gen X respondents have not yet determined when they plan to retire, although they are continuing to save at Fidelity’s recommended savings rate of 15% of their income (this includes employer and employee contributions). Encouragingly, younger generations are currently saving an even higher percentage of their income for retirement, with Millennials saving 20% and Gen Z saving 25%.When it comes time to draw down hard-earned r...
2024-03-12 | healthcare
... cleaning, cooking, and running errands, has gone up 7.1% to $68,600. While the cost of a private room in a nursing home jumped 4.9% to $116,800, the national median cost of a semi-private room in a skilled nursing facility increased 4.4% to $104,000.According to Arland, "we saw increases between 1% and 10% across facility types for this year's survey." "Although this maintains the upward trend observed in the previous surveys, we are actively examining the data to identify patterns and will disseminate our findings in the coming months."The primary cause of assisted living facility cost...
2024-03-08 | technology
... on security, artificial intelligence (AI), machine learning, online and mobile banking, payments, data analytics, and a brand-new field: augmented and virtual reality are among the technological areas in which Bank of America was awarded new patents last year.Because of the global diversity of Bank of America's clientele, the bank was able to grant a record number of patents this year thanks to its inventors. More than 7,300 innovators from 42 states in the United States and 14 other countries work for Bank of America; 26 percent of them are women. Less than 17% of inventors worldwide are fema...
2024-02-26 | demographics housing
... ...
2024-02-15 | retirement financial wellness
... ough money to last throughout their lifetimes. The much-discussed Baby Boomer wave will crest in 2024, with 12,000 retiring every day. With the "Graying of America" and the median age of Americans going up, it is more important than ever to plan for longer, well-lived lives, considering long-term care needs and replacing more of their pre-retirement income."In the U.S., with the exception of Social Security and the comparatively small number of workers with guaranteed pensions, saving for retirement is voluntary. This requires the consumer to know how much to save, where to save it, and how mu...
2024-01-18 | housing
... es are increasing more quickly than average weekly wages. These counties include Middlesex County, MA (outside Boston), Miami-Dade County, FL, Broward County (Fort Lauderdale, FL), Orange County, CA (outside Los Angeles), and Kings County (Brooklyn, NY)....
2024-01-16 | consumers economy spending
... ng since December 2020 but well above pre-COVID levels. The median expected change in spending on non-essential items over the next year instead remained unchanged at 1.9%.The average reported likelihood of making a large purchase over the next four months declined in December for home appliances, electronics, furniture, home repairs, vehicles, and vacations. Meanwhile, it increased for buying a home. This finding is consistent with households expecting a smaller increase in overall spending dollars over the next 12 monthsReported expected spending responses to an unexpected 10% increase in in...
2024-01-09 | economy
... rger share of respondents expecting to be better off a year from now.The mean perceived probability that U.S. stock prices will be higher 12 months from now increased by 0.2 percentage point to 36.7%....
2023-06-01 17:00:00 | housing interest rates
... ...
2023-06-01 | housing
... g their home's location and features on Thumbtack, homeowners can receive personalized guidance on what projects to complete, when to complete them and who to hire to get the job done. This will help homeowners create prioritized maintenance plans that are within their budget to cover everything from the move-in house cleaning to tree trimming and roof maintenance. ...
2023-06-01 | demographics finances
... ntinue to change the world well beyond their youth," said Surya Kolluri, head of the TIAA Institute. "About 20% of them turn to social media as a trusted source of information for retirement planning, but there are more proven ways for younger workers to get help. They should seek out financial advisors to craft plans that meet their short- and long-term financial goals. Employee retirement plan sponsors can also help younger workers by automating retirement plan contributions, offering plans with guaranteed lifetime income and by increasing access to financial wellness tools."The survey ...
... he inventory growth rate continued to slow for the third month in a row. Both newly listed homes (-22.7%) and homes under contract (-18.1%), or pending listings, declined year over year.Compared to last year, active inventory decreased in 21 out of 50 of the largest metros. Markets that reported large yearly declines included San Jose, Calif. (-35.3%), Sacramento, Calif. (-27.3%), and Hartford, Conn. (-26.0%).Among the 50 largest metros, active inventory increased 20.8% over last year, driven exclusively by Southern metros, such as Nashville, Tenn. (+124.7%); Austin, Texas (+112.5%), and San A...
2023-05-24 10:23:10 | investing
... to the population on age, region, race/ethnicity, and gender. In addition, the results in the U.S. and the U.K. are balanced on income. For the UK, participants were sampled to be balanced on gender, age, race, and income (for Gen Z). For Canada and China, participants were sampled to be balanced on age and gender.The research was sponsored by the FINRA Investor Education Foundation and CFA Institute. It was executed in partnership with Zeldis Research Associates.For the full report, visit: https://www.cfainstitute.org/research/industry-research/gen-z-investing About CFA InstituteCFA Ins...
2022-08-09 12:10:00 | consumers economy
... hose earning between $51,000 and $150,000 experiencing the largest rent increases. Due to rising rent inflation, younger customers are feeling the pinch the most. In July, Gen Z's median payment increased 16% year over year, compared to just 3% for Baby Boomers. Average gas spending as a percentage of total card spending per household for lower-income households ($50k per year), which peaked at nearly 10% in June, decreased to 9.3% in June as oil prices fell throughout July. According to internal expenditure and payment data, Anna Zhou, economist with the Bank of America Institute, "c...
2022-08-08 | economy inflation
... growth expectations and year-ahead spending growth expectations continued to pull back from recent series highs. Households’ income growth expectations improved. Source: New York Federal Reserve...
2022-07-27 | consumers economy
... information said that they have taken the advice. Rob Falzon, Prudential Vice Chair, says that the world is changing at an unprecedented pace and complexity. With it comes shifts in financial circumstances and the challenges Americans face. "Prudential's Pulse research helps us better understand Americans' diverse views and needs and supports our mission to become a global leader in increasing access to investment, insurance, and retirement security. Prudential has a long tradition of monitoring Americans' financial health to better understand their needs. The survey, which surv...
2022-05-19 12:02:00 | retirement
... ial goals.” Workplace Plans Help Keep Retirement on Track Despite the immediate impacts of inflation on Americans’ wallets, retirement planning remains top of mind. When asked what prompted them to begin preparing for retirement, both retirees and non-retirees report access to resources through their workplace and feeling they were at the right age to begin preparing as top factors. About two-in-five retirees said that they started preparing because their job provided resources (40%) or they felt they were at the right age (38%), while almost half (45%) of non-retirees said they star...
2022-04-25 14:00:00 | privacy
... his does not include any data we are obliged to keep for administrative, legal, or security purposes.Where your data is sentVisitor comments may be checked through an automated spam detection service....
2022-04-25 10:00:00 | financial planning
... e Bitcoin and other cryptocurrencies (61%). "In this current market environment, we're seeing a distinct shift to increased digitization, whether that's planning for social media accounts, interest in cryptocurrency, or simply exploring digital wealth planning tools," says Donna Walton, Vice President, Wealth Strategist at TD Wealth. "People want their financial planning to advance alongside their day-to-day use of technology and digital integration." The results also revealed that more than eighty percent (83%) of surveyed estate and financial planners said they use digital tools to sup...
2022-04-22 | housing
... a year earlier. On average, 3.3% of homes for sale each week had a price drop. Overall, 13% dropped their price in the past four weeks, up from 10% a month earlier and 9% a year ago. This was the highest share since the end of November. The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, rose to an all-time high of 102.5%. In other words, the average home sold for 2.5% above its asking price. This was up from 100.8% a year earlier. Source: Redfin ...
2022-01-04 09:32:54 | consumers cryptocurrency housing
... ercent of those who own crypto are willing to consider using it for purchases if it were linked to a mobile wallet. Three-in-five subscribers to multiple streaming services expressed frustration with their viewing experiences. 44% of those surveyed indicate they spend more than six minutes searching for something to watch. More than half (56%) say they wish their profile from one service could easily be shared with another service. Source: Accenture ...
2021-12-21 09:22:18 | boomers technology
... opping list, but smart home technology was also key to them. Unsurprisingly, the use of technology made social connections easier during the pandemic. The level of dependence on social media technology is consistently high in all age groups: 76% of people aged 50, 79% of people over 60 and 72% of people over 70 consider technology to be their connection to their families and the rest of the world. ... “The pandemic has changed boundaries: technology has gone from being a welcome element to a necessity for Americans in their 50s, and their new habits will continue,” said Alison Bryant,...
2021-12-06 09:22:18 | advice demographics
... king out financial information and helping others financially succeed. The survey shows that 54% of Generation Z respondents aren't preparing financially for retirement, so if social media can pique their interest, that's a good thing," says Geoffrey Brown, CEO of NAPFA. "However, it's important to note that advice found online isn't personalized or tailored to individual goals and needs, leading to potentially greater risk-taking, consumer harm, and a piecemeal approach." The NAPFA Consumer Survey data also reveals differences in the way generations are contributing to their nest egg. Appr...
2021-10-29 09:08:19 | demographics retirement
... ry" confident that they will be able to fully retire with a comfortable lifestyle (18 percent). Moreover, 18 percent of women workers indicate their retirement confidence has declined as a result of the pandemic. How Women Can Improve Their Long-Term Financial Security "Preparing for retirement involves having a complete picture of your finances and goals. It also requires safeguarding one's health and employability. The cumulative effect of daily actions and small steps over a long working career can profoundly influence a woman's ability to retire comfortably," Collinson said. The survey...
2021-10-20 | housing
... a stake in a neighborhood," said Sheena. "I immediately connected to the vibrant community in Detroit and decided to put down roots." The path to homeownership begins with saving and building credit Homeownership remains one of the most common methods for families and individuals to build wealth, as homes historically appreciate over time. When the home increases in value, so does the amount of equity that is available to the homeowner. It is this equity that can be used to support the next generation. However, the path to homeownership begins long before searching for a home. "The journe...
2021-10-14 | retirement
... income annually over 30 years. This means that many middle class Boomer households may struggle in retirement and could face a sharp reduction in their standard of living." The research indicates that implementing pragmatic policy solutions can help middle class households get on a better path to saving for retirement including strengthening and expanding Social Security; protecting defined benefit pensions; and ensuring access to a retirement savings plan through an employer. For this research, the middle class is defined as those between the 30th and 70th percentiles of net worth, or ...
2021-09-09 | retirement
... have begun saving more, and nearly one-quarter (24%) are delaying their retirement date. Seventy-one percent (71%) say they spent less during the pandemic, especially on entertainment (57%) and transportation (43%) 1 in 3 say their overall living expenses increased, with 24% spending more on medical expenses and 17% offering more financial support to family members Source: Kiplinger/Personal Capital...
2021-08-10 10:08:19 | housing
... altimore-Columbia-Towson, Md. $349,000 -1.7% -18.5% 36.9% 34 -9 Birmingham-Hoover, Ala. $270,000 -1.8% -34.0% 12.4% 35 -21.5 Boston-Cambridge-Newton, Mass.-N.H. $679,000 0.6% -22.6% -10.7% 30 -7 Buffalo-Cheektowaga-Niagara Falls, N.Y. $240,000 -1.0% -14.8% 3.4% 30 -9.5 Charlotte-Concord-Gastonia, N.C.-S.C. $389,000 5.3% -37.0% 6.4% 28 -20.5 Chicago-Naperville-Elgin, Ill.-Ind.-Wis. $350,000 0.4% -21.5% 1.1% 35 -7 Cincinnati, Ohio-Ky.-Ind. $330,000 -3.1% -15.3% 16.0% 30 -17 ...
2021-06-09 12:00:00 | consumers digital pandemic
... e who began smartphone-based retail behaviors during the pandemic, around 70% intend to continue most of those behaviors. The survey also revealed that while connectivity held up remarkably well to the demands of unexpectedly crowded homes during the pandemic, many households had reached the limits of broadband, wireless and Wi-Fi networks. And with reduced movement outside the home during the pandemic, it's not yet clear how well existing smartphones and mobile connectivity will serve post-pandemic behaviors. Since the pandemic began, 19% of those with home internet had upgraded to a h...
2021-06-01 | housing real estate
... les were up 24% year over year, also a record. Asking prices reached a median $361,875, also a record high. A record-high 101.9% average sale-to-list price ratio, which measures how close homes are selling to their asking prices, up 3.4 percentage points year over year. This means that the average home sold for 1.9% more than its asking price. A record low of 17 days on market for homes that sold during the period, down from 36 days from the same period in 2020. The share of homes sold in one or two weeks are both just shy of their record high level, which was set during the four-wee...
2021-05-11 | employment workplace
... lennials were more likely to turn to social media or a new hobby. The survey also found a correlation between employer-provided resources and workers’ mental health. Thirty percent of respondents who believe their employer has provided ample mental health resources also reported that their ability to manage stress improved during the pandemic, and one-third (33%) noted that loyalty to their employer increased. Meanwhile, 42% of workers who feel their employer has not provided enough mental health support said their ability to manage stress worsened during the pandemic, and 29% said loyalt...
2021-05-10 12:00:01 | pandemic
... ly 20 percent report spending the most time watching traditional television. 70 percent also started at least one "trendy" hobby during the pandemic with the three most common hobbies being at-home workouts (46 percent), baking sourdough bread or banana bread (27 percent), making whipped coffee (23 percent), and filming TikTok videos (21 percent). And while some binge shopped and accrued more belongings (32 percent), 30 percent of individuals decreased the amount of personal belongings during the pandemic. Romance and Relationships RedefinedSocial distancing and shelter-in-place measure...
2021-05-10 12:00:00 | demographics travel spending
... ract the purchasing power of this audience now." "The research highlights a positive outlook and several trends that look set to shape the U.S. travel market recovery. Cities are making a comeback as a top destination, and there is a clear desire among more affluent travelers for luxury experiences," said Liselotte de Maar, managing director, travel industry at Accenture. "The focus needs to be on targeting the early "inspiration" of the customer journey with new travel offerings that establish a personalized connection. Travelers choose the brands they trust, so...
2021-05-07 | housing real estate
... e move-up homeowners to finally sell, because they won't be so fearful about being able to find and compete for a home to buy." Source: Redfin...
2021-05-04 | charitable giving
... line giving platform like GoFundMe, and a quarter donated through a social media platform. And as our lives became increasingly virtual due to the COVID-19 crisis, donors turned to digital tools to engage in philanthropy. Nearly six-in-ten donors donated on a charity’s website in 2020, and 18 percent said they did this more often. Priority shift: Donors believe that the most important challenges for society to solve relate to basic human needs. In 2021, 40 percent of donors ranked hunger as one of the top three challenges facing the world—up from 34 percent before the pandemic. While do...
2021-04-30 12:00:00 | housing real estate
... omes that sold during the period were on the market for a median of 20 days, down 16 days from the same period in 2020 and the shortest time on market since at least 2012. An all-time high 46% of homes sold for more than their list price, up 19 percentage points from the same period a year earlier. The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, increased 2.5 percentage points year over year to an all-time high of 101.2%, meaning the average home sold for 1.2% more than its asking price. 58% of homes that went under contract had a...
2021-04-28 12:00:10 | workplace
... ncreasing demand in the area. 9. Las Vegas, Nevada Typical rental rates: $1,275 per month Las Vegas boasts the second highest affordability index score out of all the other metros on our list. More than just the neon lights of the Strip, there is plenty to see and experience in Sin City. From hiking trails in Red Rock Canyon, to shopping at Downtown Summerlin to exploring the Arts District of Downtown Las Vegas. 10. Salt Lake City, Utah Typical rental rates: $1,761 per month Salt Lake City is most-popular for its accessibility to some of the world's most-popular ski runs and othe...
2021-04-27 10:12:22 | economy housing
... decile of historical performance. Housing's strength is reflected across all 20 cities; February's price gains in every city are above that city's median level, and rank in the top quartile of all reports in 18 cities. "These data remain consistent with the hypothesis that COVID has encouraged potential buyers to move from urban apartments to suburban homes. This demand may represent buyers who accelerated purchases that would have happened anyway over the next several years. Alternatively, there may have been a secular change in preferences, leading to a permanent shift in the demand curv...
2021-04-27 | housing real estate
... ies are selling significantly faster than they were a year ago, led by rural single-family homes, which are selling 32 days faster than last year. The increased speed for rural properties is reflective of the pandemic-driven surge in demand for spacious homes outside city centers: In the beginning of 2020, pre-pandemic, homes in rural areas sat on the market longer because fewer buyers were interested in living in far-flung areas with long commutes to the office. Condos are picking up in popularity from a pandemic-driven plunge, even with the outsized popularity of single-family homes Condo...
2021-04-19 12:00:00 | demographics media
... argeted to their interests. Forty-three percent of consumers (39% of Generation Z and 54% of Millennials) say they would associate content that included hate speech with ads that are displayed nearby. Source: Deloitte...
2021-04-15 12:00:05 | housing
... time on record in March. This measure also typically peaks in June, so it may hit additional record highs for the next three months if the market does not cool down. Source: Redfin...
2021-04-14 12:02:02 | consumers luxury
... th smart and sophisticated stories. Luxe Digital's goal is to inspire and empower its readers with clarity and depth of understanding. Source: Luxe Digital...
2021-04-14 12:00:01 | demographics investing
... ...
2021-04-09 14:00:00 | entrepreneurship
... steep, at 19%. The drop was 16% for Black owners and 11% for Latinos. The report incorporates interviews with small business owners from the AARP’s Supporting Small Business Owners 50+ report and draws on data sources including the Census’ Current Population Survey, the Federal Reserve’s Survey of Consumer Finances, and Federal Reserve Banks’ 2020 Small Business Credit Survey, which was fielded in the third and fourth quarter of 2020. Among the key findings among business owners 45 and older: Ninety percent of Asian owners, 85% of Black owners, 81% of Hispanic owners, and...
2021-04-08 12:00:59 | investing
... plan in place, many admit that they have not thought about the tax-efficiency of their portfolio (41 percent) or do not fully understand how fees work (51 percent). Many also say they have important life milestones on the horizon—moving to a new state or home (21 percent), starting a new career or job (24 percent) and preparing to have a baby (14 percent). “Now that they’ve dipped their toes into investing, Gen I is eager to keep learning and evolving its strategies to successfully build wealth for the long-term,” said Andrew D’Anna, senior vice president for Schwab’s retail cl...
... s an area where more than 30% of housing is used for seasonal or recreational purposes. While home prices are up significantly almost everywhere in the country, the fact that they're up more in seasonal towns is an indication that out-of-towners and second-home buyers are impacting those markets, pushing prices up for locals. To read the full report, including charts, please visit: https://www.redfin.com/news/second-home-demand-record-high. Source: Redfin...
2021-04-01 16:00:00 | demographics investing
... the least trustworthy sources for investing advice. Specifically, teens are turning to YouTube (38%), TikTok (33%) and Instagram (25%) for personal finance and investing information. Gender gap emerges as young as 13Financial confidence and experience are not equal for all teens with distinct gaps between male and female respondents. 33% of boys say they are confident in their personal finance knowledge compared to 21% of girls. 55% of boys are extremely or very interested in investing versus 47% of girls. 46% of girls haven't invested because they don't feel confident, while onl...
2021-04-01 15:00:00 | retirement investing
... n broken down by gender, almost 1 in 3 women (30%) consider funds under $100K as real money, significantly less than the $500K median amount cited by almost as many men (28%). Retirement spending A powerful finding is the broad appeal of creating a regular monthly retirement paycheck using investments and savings accumulated during one’s working years. Nearly 9 out of 10 respondents (87%) say creating a monthly retirement paycheck is an appealing option for them — and that holds true for men and women across every generation, including baby boomers, Gen Xers and millen...
2021-04-01 12:00:01 | housing real estate
... ...
2021-04-01 | housing real estate
... ue to sell fast, but increasing interest rates and monthly costs could slow the pace of price gains, unless we see a boost in demand from equity-rich repeat buyers." In March, the median national home listing price grew to $370,000, up 15.6% over last year and a new all-time high, according to realtor.com® records, which date back to 2012. Listing prices in the 50 largest metros grew by an average of 12.1% year-over-year with some markets seeing listing prices grow by nearly triple that amount. Topping the list was Austin where listing prices were up 39.8%, followed by Buffalo, N.Y. (+28.3...
2021-03-31 15:00:00 | pandemic retirement
... t. There is an immediate opportunity for financial professionals to address this need, with half (50%) of Americans reporting they'd switch financial professionals for someone who could help them plan for taxes in retirement. More specifically, Americans would like advice on how to receive a tax benefit from itemizing (46%) and how to adjust investments in case of potential increases in capital gains taxes (42%). Another two-in-five (42%) would also like to get professional advice on how to use annuities and life insurance products that may be less impacted by any increases in capital gains ...
2021-03-30 12:00:02 | economy demographics
... ex has an adjusted baseline score of 100 from when it was established in October 1996. It peaked at +152 in January 2000, at the height of the dot-com boom, and hit a low of -81 in February 2009. Source: Wells Fargo...
2021-03-24 | housing real estate
... ;Within hours of a home hitting the market, the showing schedule is often completely booked up," said Laurene Broccard, a Redfin real estate agent in Raleigh, NC. "We've seen properties get over 70 showings in three days and up to 30 offers. There are frequently buyers who want to see a home, but it goes under contract before they even have a chance to tour it." To view the full report, including charts and methodology, please visit: https://www.redfin.com/news/profile-of-a-pandemic-homebuyer/ Source: Redfin...
2021-03-22 12:00:00 | housing
... 300, up 20.6% from February 2020. The National Association of Realtors® is America’s largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries. Source: NAR...
2021-03-19 12:00:00 | housing real estate
... porting as new data becomes available. To view the full report, including charts and methodology, please visit: www.redfin.com/news/housing-market-update-one-year-pandemic/ SOURCE Redfin...
2021-03-18 14:00:00 | real estate
... ...
2021-03-18 | retirement
... ary 20— 27, 2021. Respondents were fairly evenly split by age and gender; age: 45-59 (367), 60-69 (348), and 70+ (285); male (501), female (499). Source: Schroders plc...
2021-03-16 14:00:00 | housing
... ...
2021-03-04 | housing real estate
... burban areas are selling fastest, and median days on market have fallen by double digits in all three neighborhood types The typical home in an urban area spent 38 days on the market before going under contract in the four weeks ending February 21, versus 31 days in suburban areas and 42 days in rural areas. Homes in urban areas are selling 16 days faster than a year ago. Homes in suburban neighborhoods are selling 24 days faster than last year, and in rural areas they're selling 35 days faster. Homes in all three neighborhood types hit record lows in terms of days on market in the...
2021-02-26 | real estate
... l report, including charts and methodology, please visit: https://www.redfin.com/news/housing-market-update-polar-freeze/ Source: Redfin...
... consumers from becoming victims of fraud. "Building a layered defense is key," Moody continued. "Uniting the best digital identity intelligence with physical identity solutions and behavioral biometrics intelligence can be the gamechanger that organizations need to lessen the unpredictable tides of fraud. "Digital identity intelligence in particular is crucial for businesses to understand the behavior, transaction history and device intelligence of each identity entering their environment. When we can crowdsource real time intelligence across global digital businesses, it...
2021-02-23 | financial wellness financial resilience
... ...
2021-02-22 | investing demographics
... kTok (24%), Instagram (21%), Twitter (17%), Facebook groups (16%) and Reddit (13%). In all, 46% of Gen Zers and millennials have used social media for investing information in the past month. 22% of Gen Z investors say they were younger than 18 when they started investing, versus 8% of millennial investors. In fact, 40% of Gen Z investors say they were encouraged by their parents to begin investing, which backs the earlier start. Only 36% of young investors plan to use that money for retirement. Instead, 35% will primarily use those returns to make additional investments, while 19% will us...
2021-02-17 | real estate
... er, DE at +30.9%. Median Sales Price – Median of 53 metro median prices In January 2021, the median of all 53 metro Median Sales Prices was $285,000, down 1.7% from December 2020, and up +11.8% from January 2020. No metro area saw a year-over-year decrease in Median Sales Price. Forty-five metro areas increased year-over-year by double-digit percentages, led by Boise, ID at +24.3%, Pittsburgh, PA at +21.3%, and Indianapolis, IN at +20.5%. Days on Market – Average of 53 metro areas The average Days on Market for homes sold in January 2021 was 40, up three days from the average in De...
2021-02-09 | investing
... m just 3% in Q2. 5% of consumers in Q4 named global warming their top worry. Eclipsed as an immediate concern by economic and health concerns in the first half of 2020, the share of consumers focused on climate change is now back near the pre-pandemic average of 6%. Unsurprisingly, more than half of US consumers continue to name the economy (26%), health (18%), or job security (9%) as their top concern for the months ahead. Notably, however, focus on all three areas was lower in Q4 compared to Q2, in the early months of the COVID-19 crisis. Source: The Conference Board ...
2021-02-09 | communication
... y on their devices. And the attachment starts early in the day – 67% of consumers check their phones within 5 minutes of waking up in the morning and 34% check them immediately, a 62% increase from last year. We can attribute this changing behavior to COVID-19 and the many other crises that 2020 brought. More than ever before, consumers felt the need to read the latest news and check in with loved ones the moment they woke up. Looking to 2021, one of the biggest opportunities for businesses lies within consumers’ desire to make payments over text. Nearly half (46%) of consumers say they...
2021-02-05 | investing
... e importance of educating investors about risk and reward, costs and fees, tax consequences of investing and other key concepts.” “In early 2020, we began seeing media narratives about an influx of investors into the market. This research moves past the anecdotes and helps to separate fact from fiction, highlighting what is actually prompting investors to open a new account,” said Mark Lush, manager and behavioral scientist in the Behavioral and Economic Analysis and Decision-Making (BEAD) team at NORC. “The reality is that investors who opened their first taxable investment account...
2021-02-01 14:00:00 | banking
... y, Meta EVP and Head of Payments. "Further, our research showed consumer awareness of digital banks is being driven primarily by digital channels, indicating online and social media marketing efforts could bring a return on investment." The Digital Migration: Growing Share of Banking examined how consumers are navigating digital banking, and is based on the responses of 1,800 U.S. adults. Key trends from this research are included below. The "Hybrid" consumer could be key to unlocking digital banking growth. Hybrids are those consumers who maintain both digital-only and traditional ba...
2021-01-28 09:30:30 | pandemic women retirement
... ing savings, such as deferred income annuities (DIAs; 10% vs 12%), single premium immediate annuities (9% vs 16%) and qualified longevity annuity contracts (QLACs; 8% vs 11%). Source: Nationwide...
2021-01-28 | housing
... iew-Fort Walton Beach, FL (up 19.6 percent); Boise, ID (up 18.7 percent) and Hilton Head, SC (up 18.3 percent). The largest median-price increases in metro areas with a population of at least 1 million in 2020 came in Milwaukee, WI (up 15.3 percent); Memphis, TN (up 15.1 percent); Phoenix, AZ (up 14.9 percent); Birmingham, AL (up 13.7 percent) and Seattle, WA (up 12.9 percent). Home prices in 2020 reached new peaks in 129 of the 132 metros (97 percent) analyzed, including New York, NY; Los Angeles, CA; Chicago, IL; Dallas, TX and Houston, TX. The smallest gains among the 132 metro are...
2021-01-25 12:00:30 | pandemic investing
... access point for immediate funds if faced with financial hardship. Cash (20%) and loans from family or friends (12%) round out the other top access points for immediate funds. That number increases for Zoomers, of which 31% of those born in the late 90s and early 2000s (members of Generation Z) indicated they would access funds through a loan from family or friends. COVID-19 sparks interest in stocks, financial learning Interestingly, about 1 in 10 Americans have either increased their investments in stocks and bonds (11%) or started investing for the first time (7%). Often overlooked, ...
2021-01-22 13:00:00 | housing
... Seattle (-0.8%), and New York (-0.4%), the bottom is still to come, but monthly rent decreases are gradually slowing. For-sale listings' median time on market for the U.S. stayed extremely short at 14 days, just one day longer than monthly lows in the fall. Newly pending sales are following seasonal trends, but remain elevated -- up 21.7% compared to last year despite available inventory down 26.6%. Mortgage rates listed by third-party lenders on Zillow reached an all-time low of 2.63% on Dec. 18. Rates entered December at an extraordinarily low 2.71%, hit a monthly high of 2.79% on Dec...
2021-01-22 | housing
... ber, a 17.9% increase from a year ago. The median price in the West was $467,900, up 14.2% from December 2019. Source: National Association of Realtors...
... ing the largest year-over-year declines. These markets also represent some of the most expensive cities in the country, giving rents the most room to fall. In December, the median studio rent in Manhattan was $2,288, down 21.0% year-over-year. Median one-bedroom rent in Manhattan was $3,100, down 18.4% compared to last year. Median two-bedroom rent in Manhattan was $5,200 in December, down 16.1% compared to last year. When it comes to rent increases, Sacramento, Calif. is leading the nation with average monthly rent increasing 20.3%, 12.4%, and 9.1% for studio, one-bedroom and two-bedroo...
2021-01-15 | economy
... owth forecast by 0.4 percentage points to 3.6 percent. Immediate risks to the forecast center around the path of the pandemic and progress on vaccination distribution. Impediments to that process could result in meaningful, adverse impacts to the timeline of projected growth. Otherwise, the ESR Group believes that conditions are favorable for a strong recovery, with inflationary pressure and higher interest rates being the most significant longer-term risks to growth. Housing activity is expected to remain strong in 2021, but sector growth will likely decelerate from the torrid pace set in ...
2021-01-14 20:00:00 | spending entertainment
... pause in live sports caused by the pandemic, almost 39 percent of sports viewers are now watching live sports events via connected TV (CTV) such as ad-supported streaming and social media platforms, according to the survey. Only 30 percent of U.S. consumers cite live sports as a reason for maintaining a cable TV subscription – significantly down from the 60 percent that cited live programming, including sports, just nine months previously. “COVID has accelerated cord-cutting trends that were already underway, to a point where less than 50 percent of U.S. households today have a cable s...
2021-01-13 15:00:00 | pandemic spending
... ng to get vaccinated will splurge on something to celebrate afterward, such as a fancy dinner out or a vacation. That includes 30% who plan to splurge almost immediately after vaccination and 52% who said they'll wait a while before doing so. Millennials are more likely to be planning a celebratory splurge than any other age group. 15% of consumers said they'll never feel secure in their financial position again, even with the promise of a vaccine bringing an end to the pandemic. Women were nearly twice as likely as men to say that (20% vs. 11%). Even after a vaccine, many Americans will c...
2021-01-13 14:00:00 | consumer expectations housing inflation
... ber to 4.3% in December, its highest reading since November 2013. The mean perceived probability that the average interest rate on saving accounts will be higher 12 months from now rose from 24.8% in November to 26.2% in December, the second consecutive increase since reaching a series low in October 2020. While perceptions about households' current financial situations compared to a year ago were largely unchanged, one-year ahead expectations about households' financial situations improved slightly with more respondents expecting their financial situation to improve over the ne...
2021-01-11 18:00:00 | pandemic spending
... elings after nearly a year of living through a pandemic, finding that 53% felt more financially confident approaching the end of 2020, compared to the beginning of the year; 51% would be able to immediately have $2,000 available in an emergency, up from 42% in 2019; and 48% felt more financially aware, as a result of challenges they might have faced during the pandemic. Nearly half (41%) of respondents said they are spending less and saving more since the pandemic began, and among those who say they are doing so, 71% are spending less money on discretionary items—including travel, dining...
2021-01-10 08:24:41 | housing
... nuary 20. While more government spending could lead to moderate mortgage-rate increases, it will also likely include programs to make homeownership affordable to more people." Source: Redfin...
2021-01-08 | housing
... s month over month. Good/Bad Time to Sell: The percentage of respondents who say it is a good time to sell a home decreased from 59% to 50%, while the percentage who say it's a bad time to sell increased from 33% to 42%. As a result, the net share of those who say it is a good time to sell decreased 18 percentage points month over month. Home Price Expectations: The percentage of respondents who say home prices will go up in the next 12 months remained the same at 41%, while the percentage who say home prices will go down increased from 13% to 16%. The share who think home prices will stay...
2021-01-07 | housing
... alif. (+123.8%) and San Francisco (+98.9%), which saw far more new listings this December compared to 2019. Home prices continued to grow at double-digits, with the median listing price growing 13.4% year-over-year, to $340,000 in December. This is a slight step back from its peak of $350,000. While prices increased nationwide, the largest gains were seen in the Northeast (+12.2%), followed by the West (+10.4%), Midwest (+8.6%) and South (+6.7%). Source: Realtor.com® ...
2021-01-07 | housing interest rates
... han renting a three-bedroom property in 572, or 63 percent of the 915 U.S. counties according to the new 2021 Rental Affordability Report from ATTOM Data Solutions. That has happened even though median home prices have increased more than average rents over the past year in 83 percent of those counties and have risen more than wages in almost two-thirds of the nation. Home ownership is more affordable in almost two-thirds of the country following a year when the impact of declining interest rates helped counteract home prices that rose faster than rents and wages. Trends favoring home own...
2020-12-31 | housing
... 64,447 average wage nationwide based on the most recent average weekly wage data available from the Bureau of Labor Statistics, making a median-priced home nationwide unaffordable for an average household with two wage earners. Source: ATTOM Data Solutions press release ...
2020-12-29 | housing real estate
... en your dream home hits the market." To view the full report, including charts and methodology, please visit: https://www.redfin.com/news/housing-market-update-december-20/ Source: Redfin ...
2020-12-28 | housing
... ...
2020-12-20 | housing mortgages
... e payment of $1,112, just $18 more than November. The relatively low median payment in April was due largely to a slump in the housing market caused by buyers' uncertainty about purchasing a home at the onset of a pandemic. Prices rose 4.9% year over year to $304,000 in April, a slowdown from 7% growth the month before. The average mortgage rate was 3.31%, a dip from 3.62% at the beginning of the year. ...
2020-12-14 | income spending credit
... n taxes (at current income level) increased sharply in November from 2.9% to 4.1%, the highest reading since May 2014. The increase was more pronounced for respondents between the age of 40 and 60. The mean perceived probability that the average interest rate on saving accounts will be higher 12 months from now increased 0.5 percentage point to 24.8% in November, remaining below its 2019 average of 30.0%. Perceptions about households’ current financial situations compared to a year ago remained essentially unchanged in November. In contrast, respondents were more pessimis...
2020-11-09 | inflation financial situation
... Median home price change expectations, which have been trending upward after reaching a series' low of 0% in April 2020, were unchanged at 3.1% in October. The median one-year ahead expected change in the cost of a college education declined from 5.2% to 4.9% in October. Median expectations for the cost of rent and medical care both increased from 5.4% and 6.8% to 5.7% and 9.1% in October, respectively. ...
2020-08-10 | inflation household finances
... orizon, increasing from 2.7% in June to 2.9% in July, above its 12 month trailing average of 2.5%. Consumers continue to relatively pessimistic about their household finances with median expected household income growth remained steady at 2.1% in July for the second consecutive month, which is well below its 2019 average of 2.8%. One-year ahead expectations about households' financial situations deteriorated with more respondents expecting their financial situation to worsen and fewer expecting it to improve. Both perceptions and expectations of financial conditions remain weak compared t...
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