array(2) { ["ItemsNewsletters"]=> array(5) { ["item_id"]=> string(5) "98597" ["newsletter_id"]=> string(5) "26456" ["section_id"]=> string(10) "Section_01" ["item_type"]=> string(4) "item" ["zone"]=> string(7) "Stories" } ["Item"]=> array(7) { ["id"]=> string(5) "98597" ["subject"]=> string(49) "Report: Millennials Most Rent-Burdened Generation" ["authors"]=> string(16) "By Liz Dominguez" ["data"]=> string(3861) "Editor's Note: This was originally published on RISMedia's blog, Housecall. See what else is cookin' now at blog.rismedia.com: Each generation faces its own set of challenges. When it comes to home-buying, millennials are finding it difficult to reach their homeownership goal, which for many is a huge step in achieving the American Dream. High student loan debt is just one obstacle standing in the way, keeping millennials from saving enough money for a down payment—and the longer they wait, the more they fall behind with rising interest rates and home prices
 
But, with all the focus on homeownership, those who sign a lease every year tend to forget that they're spending a ton of cash on renting. Millennials are spending the most, according to a recent report by RentCafé, which analyzed each generation's total income and rent paid during an eight-year period—from 22 to 29 years of age—using Census data for single people paying the average monthly rent on their own. 
 
The findings? Millennials spend a whopping $92,600 on rent before they're even 30. Gen Xers spent $82,200 and baby boomers paid just $71,000. However, millennials may not be on top for long. Gen Z renters will spend an estimated $102,000 within that same age range, according to the report.
 

 
Of course, rising income plays a role too, having increased from a median of $195,700 for baby boomers to $202,100 for Generation X individuals and $206,600 for millennials aged 22 to 30. However, the small increase of $4,500 between median income for Generation Xers and millennials doesn't make up for the $10,400 increase in rent paid between the two generations.
 
There are also differences in spending within each generation. According to the report, younger millennials between 22 and 29 years of age have paid more in rent than those aged 30 to 40. Regardless of earning a higher income than older millennials, the younger segment paid $6,900 more in rent. According to the report, the recession and social factors are to blame for longer rental periods.
 
With so many funds going to rent, compounded with market challenges and high student loan debt, millennials are struggling to save for homeownership. Will future generations decide to stay at home with their parents longer to save on rent and achieve their homeownership dream?
 
View the full report. 
 
Liz Dominguez is RISMedia's associate content editor. Email her your real estate news ideas at ldominguez@rismedia.com.
" ["preview"]=> string(470) "Each generation faces its own set of challenges. When it comes to home-buying, millennials are finding it difficult to reach their homeownership goal, which for many is a huge step in achieving the American Dream. High student loan debt is just one obstacle standing in the way, keeping millennials from saving enough" ["link"]=> string(65) "http://rismedia.com/cs/{ID}/{AffiliateID}/{SubscriberID}/{ItemID}" ["type"]=> string(4) "item" } } array(2) { ["ItemsNewsletters"]=> array(5) { ["item_id"]=> string(5) "98596" ["newsletter_id"]=> string(5) "26456" ["section_id"]=> string(10) "Section_01" ["item_type"]=> string(4) "item" ["zone"]=> string(7) "Stories" } ["Item"]=> array(7) { ["id"]=> string(5) "98596" ["subject"]=> string(41) "Introducing New REALTOR® Safety Video" ["authors"]=> string(0) "" ["data"]=> string(1008) "NAR PULSE—NAR's REALTOR® Safety Program published a new video, "Personal Safety Tips for Real Estate Professionals," that highlights safety protocols all REALTORS® should implement into their daily routine and follow with every client, every day, every time. Watch the video here and be sure to share it with your agents. 
 
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Failing to track your business mileage is leaving money on the tax table. QuickBooks® Self-Employed has a solution. Easily track your miles, plus capture receipts and categorize expenses. Enjoy a 30-day free trial and then 50 percent off the first year through the REALTOR Benefits® Program. Learn more. " ["preview"]=> string(288) "
NAR's REALTOR® Safety Program published a new video, "Personal Safety Tips for Real Estate Professionals," that highlights safety protocols all" ["link"]=> string(65) "http://rismedia.com/cs/{ID}/{AffiliateID}/{SubscriberID}/{ItemID}" ["type"]=> string(4) "item" } } array(2) { ["ItemsNewsletters"]=> array(5) { ["item_id"]=> string(5) "98595" ["newsletter_id"]=> string(5) "26456" ["section_id"]=> string(10) "Section_01" ["item_type"]=> string(4) "item" ["zone"]=> string(7) "Stories" } ["Item"]=> array(7) { ["id"]=> string(5) "98595" ["subject"]=> string(28) "Consumer Confidence Retracts" ["authors"]=> string(17) "By RISMedia Staff" ["data"]=> string(1234) "Consumer confidence retracted in March, posting a 127.7 reading in the latest Consumer Confidence Index® from The Conference Board. February's reading was 130.
 
The Expectations reading of the Index, which gauges how consumers feel about their business, employment and income prospects six months out, fell to 106.2; in addition, the Present Situation reading, which gauges how consumers feel about conditions currently, fell to 159.9.
 
"Consumer confidence declined moderately in March after reaching an 18-year high in February," said Lynn Franco, director of Economic Indicators at The Conference Board, in a statement. "Consumers' assessment of current conditions declined slightly, with business conditions the primary reason for the moderation. Consumers' short-term expectations also declined, including their outlook for the stock market, but overall expectations remain quite favorable. Despite the modest retreat in confidence, Index levels remain historically high and suggest further strong growth in the months ahead."
 
Source: The Conference Board " ["preview"]=> string(340) "
Consumer confidence retracted in March, posting a 127.7 reading in the latest Consumer Confidence Index® from The Conference Board. February's reading was 130. The Expectations reading of" ["link"]=> string(65) "http://rismedia.com/cs/{ID}/{AffiliateID}/{SubscriberID}/{ItemID}" ["type"]=> string(4) "item" } } array(2) { ["ItemsNewsletters"]=> array(5) { ["item_id"]=> string(5) "98594" ["newsletter_id"]=> string(5) "26456" ["section_id"]=> string(10) "Section_01" ["item_type"]=> string(4) "item" ["zone"]=> string(7) "Stories" } ["Item"]=> array(7) { ["id"]=> string(5) "98594" ["subject"]=> string(29) "Apartment Rents Rise in March" ["authors"]=> string(0) "" ["data"]=> string(1091) "Apartment rents, on average, rose by $4 in March to $1,371, according to data recently released in a report by Yardi® Matrix. The increase is a 2.5 percent rise year-over-year.
 
"It is encouraging to see rents growing at a time when the overall trend is toward deceleration," the report states. "Rents had not moved more than $1 in either direction since last July."
 
The areas that grew the most in March were Orlando, Fla. (7 percent); Las Vegas, Nev. (5.2 percent); California's Inland Empire (4.4 percent); and Phoenix, Ariz. (4.3 percent). They "are experiencing healthy demand due to strong late-stage economies and affordable housing costs," the report states.
 
Get the full report. 
 
For more information, please visit www.yardi.com" ["preview"]=> string(351) "
Apartment rents, on average, rose by $4 in March to $1,371, according to data recently released in a report by Yardi® Matrix. The increase is a 2.5 percent rise year-over-year. "It is encouraging to see" ["link"]=> string(65) "http://rismedia.com/cs/{ID}/{AffiliateID}/{SubscriberID}/{ItemID}" ["type"]=> string(4) "item" } } array(2) { ["ItemsNewsletters"]=> array(5) { ["item_id"]=> string(5) "98593" ["newsletter_id"]=> string(5) "26456" ["section_id"]=> string(10) "Section_01" ["item_type"]=> string(4) "item" ["zone"]=> string(7) "Stories" } ["Item"]=> array(7) { ["id"]=> string(5) "98593" ["subject"]=> string(57) "ICYMI: Facebook Ads Violate Fair Housing, Alleges Lawsuit" ["authors"]=> string(16) "By Liz Dominguez" ["data"]=> string(4055) "Facebook has made headlines this past year for multiple platform changes, such as a modification of its algorithm to prioritize local news and a new system for rental listings within its Marketplace storefront. Now, the company is under fire for possibly violating the Fair Housing Act, which does not allow bias against color, religion, handicap, familial status or national origin in relation to housing. 
 
Four housing groups, including the National Fair Housing Alliance (NFHA), filed a lawsuit last week against the social media giant, alleging Facebook's advertising platform is discriminatory in nature for allowing the exclusion of families with children, women and other protected classes.
 
"Facebook has known for years that its advertising platform violates civil rights laws, but it has refused to change its ways on a voluntary basis," said Diane L. Houk, one of the attorneys representing the groups, in a statement. "Facebook is not above the law and must answer these civil rights claims in court."
 
The lawsuit alleges that Facebook allows advertisers to customize their audience by choosing keywords from a preset list of characteristics, many of which are protected by the Fair Housing Act. For example, advertisers could choose to target only men with rental or home-sale ads, excluding women from the promotional push.
 
To test Facebook's ad system, filers of the lawsuit created a sample real estate firm and submitted housing advertisements for review. Through this process, the housing groups found they were able to exclude specific groups from receiving the ads, such as families with children and moms with children of a certain age. Additionally, an "interests" category included exclusion keywords based on disability and national origin, such as "disabled veterans" and "English as a second language." 
 
Facebook has denied the allegations and says it will fight the lawsuit.
 
"There is absolutely no place for discrimination on Facebook. We believe this lawsuit is without merit, and we will defend ourselves vigorously…We take prompt enforcement action when we determine that ads violate our policies," a Facebook spokesperson said in a statement.
 
The lawsuit is being introduced at a controversial time for Facebook, which has an audience of over 2 million individuals monthly. Facebook is currently embroiled in the aftermath of its misuse of private user data, which it sold to Cambridge Analytica, a political data firm hired by President Trump's 2016 election campaign.
 
"Amid growing public concern in the past weeks that Facebook has mishandled users' data, our investigation shows that Facebook also allows and even encourages its paid advertisers to discriminate using its vast trove of personal data," said Lisa Rice, NFHA's president and CEO, in a statement.
 
"Facebook's use and abuse of user data for discriminatory purposes needs to stop. It is already a challenge for women, families with children, people with disabilities and other under-served groups to find housing. Facebook's platform that excludes these consumers from ever seeing certain ads to rent or buy housing must be changed immediately. Facebook ought to be opening doors to housing opportunities instead of closing them," Rice added.
 
Stay tuned to RISMedia for more developments.
 
Liz Dominguez is RISMedia's associate content editor. Email her your real estate news ideas at ldominguez@rismedia.com.
" ["preview"]=> string(292) "
Facebook has made headlines this past year for multiple platform changes, such as a modification of its algorithm to prioritize local news and a new system" ["link"]=> string(65) "http://rismedia.com/cs/{ID}/{AffiliateID}/{SubscriberID}/{ItemID}" ["type"]=> string(4) "item" } } array(2) { ["ItemsNewsletters"]=> array(5) { ["item_id"]=> string(5) "98592" ["newsletter_id"]=> string(5) "26456" ["section_id"]=> string(10) "Section_01" ["item_type"]=> string(4) "item" ["zone"]=> string(7) "Stories" } ["Item"]=> array(7) { ["id"]=> string(5) "98592" ["subject"]=> string(55) "Relocating: What Renters Look for in a New Neighborhood" ["authors"]=> string(16) "By Ashley Lipman" ["data"]=> string(6087) "Editor's Note: This was originally published on RISMedia's blog, Housecall. See what else is cookin' now at blog.rismedia.com: Nowadays, we're seeing larger cities—like Los Angeles, Calif., and Washington, D.C.—take a backseat to smaller up-and-comers, such as Omaha, Neb., and Dallas, Texas. From 2011 to 2016, Dallas' GDP rose a whopping 26.6 percent, and Omaha consistently has one of the lowest unemployment rates in the U.S. 
 
But no matter which city renters are looking at, everyone wants a neighborhood within their financial means that is safe and friendly. Here are some of the top things renters look for when moving to a new neighborhood:
 
Location, Location, Location
neighborhood that is centrally located is on the top of most renters' lists. At the end of the day, people want to live in an area that's walking distance from a local market or downtown area. It makes it easier to run down to the local grocers after a hard day's work for some odds and ends. 
 
Walkability is one of the most desirable aspects of a new neighborhood. Centrally-located neighborhoods earn some brownie points when they also have smooth, paved sidewalks so renters can quickly get to downtown. 
 
Also, we must factor in easy access to transportation, be it a bus stop, train station or bike path. With the average commute time rising from roughly 21 to 26 minutes, renters want to save all the precious time they have. 
 
Urban Living Minus the High Costs
Urban areas are notorious for their high cost of living. Now that most millennials are in the early stages of their careers and some have started families, you can bet several are pulled towards the urban life; however, affordability may be getting in the way.
 
In which case, more affordable, uptown neighborhoods that are starting to urbanize are a draw. Unlike already-established (and high-end), big-name cities (e.g., New York City), these neighborhoods aren't nearly as expensive, but still have that urban vibe. For renters wanting a cheaper rent and that downtown feel, it's the best of both worlds.
 
Safety Is Always a Priority
It's safe to say (no pun intended) that safety is at the top of most renters' lists. Low crime rates are a huge plus to renters who don't want to worry about who's around when getting something from the car.
 
Renters want a neighborhood that passes the walk/run test—they want to feel safe running around the block in the morning, afternoon or night. Areas that can provide this are hot-ticket housing in the real estate industry. (To check neighborhood safety, renters can use online resources such as Trulia.) 
 
Good Local Schools
Another top neighborhood feature on many renters' lists are good local schools with high graduation rates. It goes without saying that environment is one key factor that plays into human development. Renters want to know that their child's school (not to mention the surrounding area) is a positive influence. As with safety, you can search a neighborhood's school ratings on many real estate sites.
 
It Feels Like Home
Renters want to be able to step into that apartment, condo or house and instantly get that "home" feeling, and a neighborhood definitely plays into that. It could be a neighborhood that has a distinct look, such as streets lined with jacaranda trees, or it could be an area filled with vintage homes.
 
Yes, the small details—such as gated community living or a waterfront view—will change depending on the renter, but the big-picture takeaways are more or less the same: a neighborhood that is in sync with the renter's lifestyle.
 
At the end of the day, if a renter can imagine happily living in that neighborhood for the next several years (if not longer), that rental property may be a keeper. Do you agree? Disagree? Leave a comment below!
 
Ashley Lipman is a super-connector who helps businesses find their audience online through outreach, partnerships, and networking. She frequently writes about the latest advancements in digital marketing and focuses her efforts on developing customized blogger outreach plans depending on the industry and competition." ["preview"]=> string(478) "Nowadays, we're seeing larger cities—like Los Angeles, Calif., and Washington, D.C.—take a backseat to smaller up-and-comers, such as Omaha, Neb., and Dallas, Texas. From 2011 to 2016, Dallas' GDP rose a whopping 26.6 percent, and Omaha consistently has one of the lowest" ["link"]=> string(65) "http://rismedia.com/cs/{ID}/{AffiliateID}/{SubscriberID}/{ItemID}" ["type"]=> string(4) "item" } } array(2) { ["ItemsNewsletters"]=> array(5) { ["item_id"]=> string(5) "12392" ["newsletter_id"]=> string(5) "26456" ["section_id"]=> string(10) "Section_10" ["item_type"]=> string(4) "item" ["zone"]=> string(6) "Footer" } ["Item"]=> array(7) { ["id"]=> string(5) "12392" ["subject"]=> NULL ["authors"]=> string(0) "" ["data"]=> NULL ["preview"]=> string(327) "

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" ["link"]=> string(0) "" ["type"]=> string(4) "item" } } Today's Real Estate News - Wednesday, April 04, 2018
Today's Top Stories
Report: Millennials Most Rent-Burdened Generation
Introducing New REALTOR® Safety Video
Consumer Confidence Retracts
Apartment Rents Rise in March
ICYMI: Facebook Ads Violate Fair Housing, Alleges Lawsuit
Relocating: What Renters Look for in a New Neighborhood
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