Startup plans to allow consumers to purchase homes without a mortgage. Innovative, or risky?

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Innovative, or risky?

One new Los Angeles-based investor-backed startup is claiming it will get Americans into homes without requiring a mortgage.

Fleq will launch next month in Pittsburgh, and instead of originating mortgages, its plan is to simply buy the home a purchaser wants and sell it back to them, bit by bit, in shares. The buyer can choose the length of time that they want to pay for the home.

“We didn’t think that [mortgages] were the appropriate and fair approach to homeownership, and we didn’t think it resonated with Millennials and Gen Zers, who saw their parents wiped out by the financial crisis,” said founder and CEO Todd Sherer, whose background is in real estate finance.

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Gen Z women are less likely than millennial women to want to be reachable at all times, and it might be a sign of ‘tech fatigue’

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Only one-third of women in Gen Z report feeling optimistic about the effects of technology on society. Olivia Harris/Getty

A new study from GfK Consumer Life asked over 37,000 people in 31 different markets and 25 countries about their feelings on technology.

More than 60% of Gen Z women reported that they have difficulty taking even a short break from technology.

But Gen Z women are less likely than millennial women to want to be reachable all the time.

Gen Z women and girls are both more tied to technology, and more skeptical about its possible benefits than their millennial counterparts, and women as a whole, according to a new study from GfK Consumer Life.

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Soaring second home ownership hitting young people

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The number of British people who own a second home, buy-to-let or overseas property has doubled since 2001, says think tank the Resolution Foundation.

  • While the number of millennials who own a home continues to fall, one in 10 people now own an additional property.
  • Just 37% of people born in the 1980s managed to buy a home at the age of 29, compared with half of those born in the 1960s.
  • Wealth from owning a second home has risen since 2001 to almost £1 trillion.
  • Buy-to-let property is now the most common form of property wealth, having grown by 58% since 2006-08, the report found.

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Most Americans agree that this is the age that living at home becomes embarrassing

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A survey conducted on more than 3,000 Americans, by TD Ameritrade, examines how every generation views boomeranging back to the nest after college.

 According to a new survey conducted by Zillow, 14.4 million Millennials (people between the ages of 23 and 38) currently live at home with their parents. This is a staggering 21% of all American Millennials.

Although this figure has continued to rise over the years, the stigma that accompanies it has actually experienced a decline. A survey conducted on more than 3,000 Americans, by TD Ameritrade, examines how every generation views boomeranging back to the nest after college. And according to the study, you shouldn’t feel too bad until your nearing your thirties.

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Chinese millennials are rejecting dull factory jobs — and transforming the economy

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Job seekers check out employment ads at a recruitment fair in Qingdao, eastern China. (STR / AFP/Getty Images)

Life as one of China’s industrial worker ants did not suit Liu Xu: waking up early in factory accommodation, working for 11 hours operating a machine in the tool-making factory, eating all his meals in the factory canteen and going to bed, only to wake up and do it again.

His parents spent most of their lives in deadening jobs — his father on construction sites and his mother in factories — but 23-year-old Liu Xu lasted just a year in a factory in the southern China city of Dongguan. Half of that was the time his company invested in training him to work the machine before he up and quit.

Like Liu, a generation of young Chinese is turning its back on the factory jobs that once fueled China’s growth — and they are helping to transform the economy by doing it.

“Life in the factory was really boring and repetitive,” Liu said. “Every day I walked into the factory, I felt like this was all there was to my life. I was going to end up in that factory forever.

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Americans spend far more time on their smartphones than they think

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If you wonder why you never have any time to do anything, you might want to look at the culprit that is causing the time suck: Your smartphone.

Almost everyone uses smartphones nowadays, they have become a major, vital part of our lives. They help us stay connected to everyone we need to. But how do our smartphone screen time habits vary across the US, and across different age groups?

A new study by St Louis-based senior living community provider Provision Living took a look at American’s smartphone habits.

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Defining generations: Where Millennials end and Generation Z begins

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Michael Dimock, president of Pew Research Center

For decades, Pew Research Center has been committed to measuring public attitudes on key issues and documenting differences in those attitudes across demographic groups. One lens often employed by researchers at the Center to understand these differences is that of generation.

Generations provide the opportunity to look at Americans both by their place in the life cycle – whether a young adult, a middle-aged parent or a retiree – and by their membership in a cohort of individuals who were born at a similar time.

As we’ve examined in past work, generational cohorts give researchers a tool to analyze changes in views over time. They can provide a way to understand how different formative experiences (such as world events and technological, economic and social shifts) interact with the life-cycle and aging process to shape people’s views of the world. While younger and older adults may differ in their views at a given moment, generational cohorts allow researchers to examine how today’s older adults felt about a given issue when they themselves were young, as well as to describe how the trajectory of views might differ across generations.

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Designing homes that appeal to Millenials

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Millennials are more accustomed to an apartment lifestyle than previous generations, spending time in rented properties before making the decision to own a home of their own. In fact, young adults are buying homes an average of five years later in life than they did a decade ago. As a result, their idea of a dream home is different than it was for those purchasing homes before them.

Tapping into the kind of layout and design that appeals to a young homebuyer is a measure of success for architects, builders and developers that want to cater to the current market. Considering the number of young people relocating from an apartment, it’s critical to design a home they’re comfortable in and that gives them a setting they’re familiar with. By pulling elements from multi-family designs and studying ways to apply them to duplexes, townhomes and even single-family houses, the apartment effect can become part of the design and provide young homebuyers with the lifestyle they’re seeking in smaller, more attainably priced homes.

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How Millennials are reshaping the practice of law

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Smart, hard-working but forward-thinking Millennials are changing the culture of law.

Headlines are filled with the impact Millennials are having on the status quo. Said to be changing the way of the workplace, they are typically characterized as less “pushy” than previous generations while holding stronger convictions.

Millennials are now set to define a new generation of business leadership, moving through their 30s and assuming senior positions. The legal industry – known for its aversion to change and tendency to cling to tradition (after all, lawyers were among the first to move from Word Perfect to Word) — is not exempt from this leadership transformation. This should be unsurprising where Millennials practicing aw now outnumber Baby Boomers and Gen Xers – accounting for 43 percent of attorneys. A recent survey by Cushman & Wakefield found that, by 2025, more than 50 percent of practicing attorneys in the U.S. will be Millennials. Boomers and Gen Xers are retiring and with them is going the traditional, strictly hierarchical law firm structure.

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Millennials aren’t going out to drink and date, study says – but why?

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Are apps to blame, or are millennials just lazy and poor?

As a “younger millennial,” I will admit that any negative news about the millennial generation gets my defensive hackles up. But a new study about millennials and our socializing habits doesn’t seem totally off-base to me. Apparently, younger millennials aren’t going out to drink and date, and there are a lot of pretty good reasons why.

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The new magnetism of mid-size cities

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For many millennials, second cities are becoming their first choice.

If, 10 years ago, you had asked 28-year-old Sarah Luckett Bhatia if she’d eventually return to her hometown of Louisville, Kentucky, she “would have laughed in your face.”

Even just a few years ago, the prospects of coming home to Derby City would have seemed slim. Bhatia moved to Chicago for school, studied at Columbia College, and immediately got a job in corporate planning and strategy. Like many 20-somethings, she steered her life and career trajectory toward big cities and the opportunities they promised.

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A third of Millennials aren’t sure the earth is round, survey finds

CBS Local — A new survey has found that a third of young millennials in the U.S. aren’t convinced the Earth is actually round. The national poll reveals that 18 to 24-year-olds are the largest group in the country who refuse to accept the scientific facts of the world’s shape.

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