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Recent Survey Results Meaningful to Real Estate Professionals

Published by julia | Filed under Buyer / Seller Tips, Miscellaneous, Real Estate, Shout Outs, Uncategorized

Recent studies made by the Pew Research Center can be used by real estate professionals to shape their marketing and other business strategies.

Internet Use

An estimated 92 percent of Americans use multiple media to get news and 59 percent combine the Internet and another offline medium to get their news. These percentages have put the Internet third behind local TV and national TV as the most popular platform for news.

Getting news from the Internet has become popular because of two developments: People are using social networking websites and blogs to share news or react to them, and they are using smart phones to spread or source news anytime anywhere. About 80 percent of American adults own cell phones and 37 percent of them access the Internet through their phones.

For the millennial generation – those aged 18 to 29 or born after 1980 that currently number about 50 million – online social networking is a big thing. About 75 percent of them have profiles on social networking websites. The Gen Xers and boomers also network online – 50 percent and 30 percent of them, respectively, have online network profiles.

There are also Internet users called by analysts as online economic users. They comprise 69 percent of American adults and 88 percent of all Internet users and they use the Internet to get financial advice and be updated about the economy. But this group is not all about serious things; 75 percent of them turn to the Internet to relax. Their most common online entertainments are videos, music, games and social networking sites.

There’s also a large group using government websites – 82 percent of Internet users and 61 percent of American adults. They go online for forms, statistics, services, benefits and registration.

Household and Marriage

The revival of the multi-generational household has accelerated during the foreclosure era. In 2008, the number of families that contained at least two adult generations has increased to 49 million or 16 percent of the total population.

Gender role reversal has also accelerated. More women in 2007 were married to men with lower levels of education and income, compared to data in 1970.

However, in two-thirds of dual-income families, husbands earned more than their wives. But in 43 percent of families, it was the wife who made decisions in more areas of family life.

Employment

Because of lost savings and investments during the recession, 52 percent of all working adults aged 50 to 64 plan to defer their retirement, and another 16 percent expect to work as long as they live.

Home ownership

The millennials cite owning a home as the fourth most important thing in their lives. For them, the three things more important than home ownership are being a good parent, having a great marriage and helping others in need.

In 2004, home ownership in the country climbed up to 69 percent, up from 64 percent in 1994. After 2004, it declined. In 2008, only 67.8 percent of all American households owned homes.