Millennials are Buying Their First Homes, and Here’s What They Want
Authorities disagree on the exact birth years of the Millennial generation: for example, Pew Research defines Millennials as being born between 1981-1997, the US Census Bureau claims 1982-2000, and the National Association of Realtors says 1980-1995.
However, what all these same sources agree upon is that the Millennials are the largest and most powerful demographic force in North America.
In the United States specifically, Millennials account for a quarter of the entire population with a total of 83.1 million people in the demographic. This is a group that makes up the next generation of investors, continues to struggle with mounting student debt, thinks about money differently, and is now buying homes for the first time.
Marketers in all industries have tried to nail down the preferences of Millennials for some time. Millennials have made things especially more difficult for the real estate industry, as they have delayed common life milestones such as marriage, having children, and home ownership. It is only over the last few years, as Millennials have started to buy homes in significant numbers, that the industry has truly understood what the group wants to see in a home.
Millennial home buyers make up 68% of all first-time home buyers right now, and here’s their average profile: 29 years old, a median income of $76,900, and a typical home purchase (median) of $189,900 for a 1,720 sq. ft home. Of these buyers, 84% believe a home to be a good investment.
Where do Millennials want to buy? About half of the cohort (49%) wants to buy in the suburbs, while 21% would prefer to buy in an urban area. In terms of choosing a specific neighborhood, the most-cited factors affecting Millennials’ decisions were the quality of neighborhood (75%), convenience of getting to job (74%), affordability of home (58%), proximity to friends and family (49%), and quality of the school district (44%).
Today, 32% of all home purchases are made by Millennials, but the reality is that many are still holding off on buying. The major reason for that is student debt, which 54% cited as the biggest obstacle to home ownership. In fact, about one-quarter of all Millennials still live with their parents.
Other reasons cited for not owning a home yet? They include: excessive debt, rising rents, slowing wage growth, tight-lending environment, can’t find home in desired price range, increased college enrollment, and delayed marriage/children.
Original graphic by: UpNest
The 44 Closest Stars and How They Compare to our Sun
This graphic visualizes the 44 closest stars, revealing key facts such as distance from Earth, brightness, and whether potential planets are in orbit.
44 Closest Stars and How They Compare to our Sun
Humans have been fascinated by the stars in the night sky since the dawn of time.
We’ve been decoding the mysteries of celestial bodies for many centuries, but it is only in the last 200 years or so that we’ve been able to glean more detailed information on the lights that dot the night sky. Friedrich Bessel’s method of stellar parallax was a breakthrough in accurately measuring the positions of stars, and opened new doors in the effort to map our universe. Today, high-powered telescopes offer even more granular data on our cosmic neighborhood.
The infographic above, from Alan’s Factory Outlet, categorizes the 44 closest stars to Earth, examining the size, luminosity, constellations, systems, and potential planets of each star.
Our Nearest Stellar Neighbors
Our closest neighboring stars are all part of the same solar system: Alpha Centauri. This triple star system – consisting of Proxima Centauri, Alpha Centauri A, and Alpha Centauri B – attracts a lot of interest because it hosts planets, including one that may be similar to Earth.
The planet, Proxima Centauri b, is a lot closer to its star than Earth is to the Sun. However, because Proxima Centauri is a smaller and cooler red dwarf type star, the planet’s orbit is within the habitable zone. It’s thought that Proxima Centauri b receives approximately the same amount of solar energy as Earth does from our Sun.
Here’s a full list of the 44 of the closest stars to Earth:
|Star Name||Distance (light years)||MoE|
|α Centauri A||4.37||±0.0068|
|α Centauri B||4.37||±0.0068|
|Luyten 726-8 A||8.79||±0.012|
|Luyten 726-8 B||8.79||±0.012|
|EZ Aquarii A||11.11||±0.034|
|61 Cygni A||11.40||±0.0012|
|61 Cygni B||11.40||±0.0012|
|Struve 2398 A||11.49||±0.0012|
|Struve 2398 B||11.49||±0.0012|
|Groombridge 34 A||11.62||±0.0008|
|Groombridge 34 B||11.62||±0.0008|
|Kruger 60 A||13.07||±0.0052|
|Kruger 60 B||13.07||±0.0052|
|Wolf 424 A||14.05||±0.26|
|Van Maanen's star||14.07||±0.0023|
Even though we see many of these stars in the night sky, humans aren’t likely to see them in person any time soon. To put these vast distances into perspective, if the Voyager spacecraft were to travel to Proxima Centauri, it would take over 73,000 years to finally arrive.
The Brightest Stars in the Sky
The closest stars aren’t necessarily the ones most visible to us here on Earth. Here are the top 10 stars in terms of visual brightness from Earth:
|Rank||Proper name||Constellation||Visual magnitude (mV)||Distance (light years)|
|4||Rigil Kentaurus & Toliman||Centaurus||−0.27 (0.01 + 1.33)||4.4|
Excluding our Sun, the brightest star visible from Earth is Sirius, or the Dog Star. Sirius, which is about 25 times more luminous than the sun, visually punctuates the constellation Canis Major.
Filling in the Gaps
The next step in learning more about our surroundings in the cosmos will be seeing which of the stars listed above have planets orbiting them. So far, the 44 stars in the infographic have over 40 planets scattered among them, though new discoveries are made all the time.
With each new mission and discovery, we learn a little bit more about our pocket of the universe.
Visualizing the True Size of Land Masses from Largest to Smallest
Maps can distort the size and shape of countries. This visualization puts the true size of land masses together from biggest to smallest.
The True Size of Land Masses from Largest to Smallest
Is Greenland the size of the entire African continent?
But looking at a map based on the Mercator projection, you would think so.
Today’s infographic comes from the design studio Art.Lebedev and shows the true size of the world’s land masses in order from largest to smallest using data from NASA and Google.
Check out the actual shape and size of each land mass without any distortions.
Distorting Reality: Mercator Misconceptions
Maps can deceive your eyes but they are still powerful tools for specific purposes. In 1569, the legendary cartographer, Gerardus Mercator, created a new map based on a cylindrical projection of sections of the Earth. These types of maps were suited for nautical navigation since every line on the sphere is a constant course, or loxodrome.
Despite the map’s nautical utility, the Mercator projection has an unwanted downside. The map type increases the sizes of land masses close to the poles (such as in North America, Europe, or North Asia) as a side effect. As a result, Canada and Russia appear to take up approximately 25% of the Earth’s surface, when in reality these nations only occupy 5%.
“Things are not always what they seem; the first appearance deceives many.” – Phaedrus
This collection of images above represents the world’s land masses in their correct proportions. Measurements are based on Google Maps 2016 and NASA Earth Observatory maps, with calculations based on the WGS84 reference ellipsoid, or more simply, a specific model of the Earth’s shape in two dimensions.
We take for granted Google Maps and satellite imaging. Making these accurate representations is no small task – the designers went through six steps and many different iterations of the graphic.
Countries are arranged by descending size and shown without external or dependent territories. For example, the total area for the contiguous United States shown does not include Hawaii, Alaska, or overseas territories.
Top 10 Largest Land Masses
Although Mercator maps distort the size of land masses in the Northern Hemisphere, many of these countries still cover massive territories.
|United States (contiguous)||7,654,643|
The top 10 land masses by size account for 55% of the Earth’s total land. The remainder is split by the world’s 195 or so other countries.
Top 10 Smallest Land Masses
Here are the 10 tiniest jurisdictions highlighted on the map:
While the Earth’s land surface has been claimed by many authorities, the actual impact of human activity is less than one would think.
Human Impact: Humbled by Nature
Political borders have claimed virtually every piece of land available. Despite this, only 20% of land on the planet has been visibly impacted by human activity, and only 15% of Earth’s land surface is formally under protection.
The remaining 80% of the land hosts natural ecosystems that help to purify air and water, recycle nutrients, enhance soil fertility, pollinate plants, and break down waste products. The value of maintaining these services to the human economy is worth trillions of U.S. dollars each year.
While some nations are not as big as they look on the map, every piece of land counts.
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