“Millennials, as it turns out, do want a home of their own—if only so their dogs are more comfortable,” the American Kennel Club reports. In spite of reports that Generation Y is avoiding purchasing homes, a report by CNN Money showed millennials (and their pooches) were the largest group of homebuyers in 2016.
People 55 and older own 53 percent of U.S. owner-occupied houses, the biggest share since the government started collecting data in 1900, according to real estate website Trulia. That’s up from 43 percent a decade ago. Those ages 18 to 34 possess just 11 percent. When they were that age, baby boomers had homes at almost twice that level.
“Investing is different and more involved today than ever before,” Jordan Kasteler writes for Inc.com. “Savvy investors who are planning for retirement should be aware of the evolving landscape. The following are three significant economic trends that will change financial planning for consumers in 2017.”
While one-third of adults recently reported eating out less often, according to a Reuters/Ipsos survey, pizzerias seem to be exempt from this trend. At the end of 2016, it was reported by CHD Expert and Technomic that pizza is a $45 billion industry in North America, having grown even more from the previous year.
Food trucks are again lining up in downtown streets throughout the summer and fall for weekly city events. “While that no doubt brings delight to food lovers and the business operators alike, street events only tell part of the story as an increasing number of mobile food operations see private events as a big source of income,” Jennifer Karpus-Romain writes.
“Get ready for solar eclipse mania,” Beth Harpaz writes for Statesman Journal. “Destinations in the path of the Aug. 21 eclipse, which will be visible in the U.S. along a narrow path from Oregon to South Carolina, are going wild with plans for festivals, concerts and viewing parties.”
Homeowners seeking to tackle home improvement projects are not deterred by political and economic uncertainties and are spending nearly 60 percent more than a year ago on home improvement, according to HomeAdvisor’s 2017 True Cost Report.
“During the economic slowdown, many start-ups got into carpet cleaning but shut down pretty quick,” Same Day Pros reports. “The trends by the beginning of 2015 have seen a great change. Carpet cleaners are setting up new businesses, and investing in improving the operations. It’s facilitated by the consumers who are ready to pay a bit more for great and long-lasting results.”
Retail sales during the back-to-school shopping season of July and August 2017 will grow 4% over 2016, according to eMarketer’s latest forecast. Last year set a record for back-to-school season sales, but 2017 will be even better. U.S. retail sales during those core months will reach an estimated $857.18 billion, accounting for 17% of total retail sales for the year, the editors at eMarketer report.