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When it comes to talking about millennials, there are many stereotypes out there that have influenced the way the public feels about the generation. Whether it’s the assumption that millennials are irresponsible with money and would rather buy avocado toast than save for a down payment, or that millennials jump from job to job, the majority of these stereotypes paint the generation in a negative light.

A new study by Bank of America entitled Better Money Habits Millennial Report recently came to the defense of the generation when it reported that:

“Millennials deserve more credit – both from themselves and from others – for their mindfulness when it comes to money and their lives.”

Here are some key takeaways from the study proving that millennials deserve more credit for what they are already doing:

  • 63% are saving – (47% have $15,000 or more in savings)
  • 54% are budgeting – (73% who have a budget stick to it every month)
  • 57% have a savings goal – (67% who have a goal stick to it every month)
  • 46% have asked for a raise in the past 2 years – (80% who asked for a raise got one)
  • 59% feel financially secure – (16% have $100,000 or more in savings)

Many have wondered if millennials even want to own their own homes or if they would choose to rent instead. Well, not only do they want to own their own homes, but many already do and are looking to trade up! A recent study by realtor.com shows that 49% of Americans who plan to sell their home in the next 12 months are millennials!

Danielle Hale, realtor.com’s Chief Economist, gave some insight into why millennials are looking to sell,

"The housing shortage forced many first-time homebuyers to consider smaller homes and condos as a way to literlly get their foot in the door. Our survey data reveals that we may see more of these homes hitting the market in the next year."

Not every millennial fits into the stereotypes that are so prominent in our society. Those who have risen above the stereotype are ready and willing to buy a home of their own, and many others already have!

Every year, Gallup surveys Americans to determine their choice for the best long-term investment. Respondents are given a choice between real estate, stocks/mutual funds, gold, savings accounts/CDs, or bonds.

For the fifth year in a row, real estate has come out on top as the best long-term investment!

This year’s results showed that 34% of Americans chose real estate, followed by stocks at 26%. The full results are shown in the chart below.

Real Estate Tops Best Investment Poll for 5th Year Running | MyKCM

The study makes it a point to draw attention to the contrast in the sentiment over the last five years compared to that of 2011-2012, when gold took the top slot with 34% of the votes. Real estate and stocks took second and third place, respectively, while still in recovery from the Great Recession.

As the real estate market has recovered, so has the belief of the American people in the stability of housing as a long-term investment.

Homeownership is on the rise again!

by

How much water does a running toilet use?

by thewaterscrooge.com

One in five toilets has a leak.

While that number may surprise you, the fact of the matter is that new leaks are constantly occurring—and your tenants won’t always know that they are.

Couple this with the fact that water costs have increased by 200% over the past 15 years and you have a problem you can’t afford to ignore.

As that water sneaks out, so do your chances of saving money in utilities.

The EPA estimates “a toilet alone can use 27 percent” of your average water consumption per day. And that’s when it’s working correctly.

A leaking toilet can lead to thousand of lost gallons every month, making identification vital.

How Leaks Start

The cause of most leaks lies in the factory parts of the toilet. As a toilet gets older, the cheap rubber parts inside will wear down, limiting their functionality.

The most common problem parts are:

  • Damaged seals,
  • Gaps from the flush valve,
  • Flush valves with small cuts, and
  • Fill valves that remain open.

All of these parts are affordable when replaced on a single toilet and can be done immediately to avoid leaks altogether. 

The Unwanted Costs

Running toilets can have different speeds at which they cost you money. A slow leak can waste 30 gallons a day while keeping you oblivious to the problem. A medium leak, on the other hand, is more noticeable and will go through roughly 250 gallons and $3.00 a day.

The worst case is a large leak, where your toilet operates a constant flow of water, spending up to 4,000 gallons and adding a potential $40 to your bill every day

Displaying blog entries 1-4 of 4

Contact Information

The All-Star Team, REALTORS®
Bringing you home...again and again!
4 Willow Bend, Suite 2A
Hattiesburg MS 39402
601.545.3900
800.335.6477

The All-Star Team, REALTORS brings you over 200 years of accumulated experience along with the most innovative marketing strategies in the real estate industry. We specialize in the real estate properties located in Hattiesburg, Oak Grove, Petal, Sumrall, Purvis, Columbia, and the entire Pine Belt region. Put The All-Star Team, REALTORS® to work for you as you consider your next home sale or purchase. Experience the team approach to real estate and make us your REALTOR® for life! See how The All-Star Team, REALTORS® really is bringing the Pine Belt home again and again.