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Millennials in the Market
There’s no shortage of articles covering Millennials. Their habits in the worlds of entertainment, retail, community engagements and so many other areas of society have been studied and dissected with sharp focus over the past several years. While some may think it’s a topic that’s been covered enough, I see new trends developing.
As with every generation before, Millennials are growing older and their needs are evolving, including their real estate and home loan needs. Keeping a close eye on who Millennials are and their current needs helps me (as well as my business partners) prepare to provide them service beyond belief. [Have no fear, Gen Xers, Baby Boomers and members of the Silent Generation – I'll provide you service beyond belief too!]
As a quick refresher, Millennials were born roughly between 1982 and 2002 and are estimated to total over 80 million or 25% of the population. Among their many attributes, American Millennials are known statistically for the following:
86% own a smartphone 83% American Millennials smartphone owners text more than talk 18 hours/week on their cell phones 30% use their smartphone for a purchase at least once a week More than 40% of American Millennials are parents (with an estimated 80% being parents by ... more
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