Nearly 9 million millennials expect to be permanent renters, survey says

A recent survey has revealed that nearly 9 million millennials in the United States expect to be permanent renters, with many of them giving up on the dream of homeownership. The survey found that nearly half of millennial renters have not saved any money for a down payment to buy a home, highlighting the financial challenges faced by this generation.

CBS News Business Analyst Jill Schlesinger discussed the implications of this trend on “CBS This Morning,” shedding light on why many millennials could be resigned to renting for the foreseeable future and what it means for the housing market as a whole.

The survey results point to a significant shift in attitudes towards homeownership among millennials, who have traditionally been seen as the generation aspiring to own their own homes. Rising housing costs, stagnant wages, and high levels of student debt are some of the factors contributing to this shift, making it increasingly difficult for young people to save up for a down payment and afford the costs associated with buying a home.

The implications of this trend are far-reaching, not just for millennials themselves but for the housing market as a whole. As more millennials choose to rent rather than buy, the demand for rental properties is likely to increase, putting further pressure on rental prices. This could have a ripple effect on the overall housing market, impacting everything from construction and real estate development to mortgage lending and homeownership rates.

It is clear that the dream of homeownership is becoming increasingly out of reach for many millennials, highlighting the need for policy solutions to address the affordability crisis in the housing market. Without intervention, we may see a generation of renters who are unable to build wealth through homeownership, further widening the gap between the haves and the have-nots in society.

As the housing market continues to evolve, it is essential that we pay attention to the changing dynamics and work towards creating a more equitable and affordable housing market for all. The future of homeownership may look very different for millennials, but with the right policies and interventions, we can ensure that everyone has a chance to achieve the dream of owning their own home.

CBS News Business Analyst Jill Schlesinger joined CBS This Morning to discuss why many millennials could be permanent renters and what it means for the housing market. Schlesinger explained that many Americans in their 20s and 30s may have given up on the dream of homeownership, with nearly half of millennial renters admitting they have not saved a dime for a down payment to buy a home.

Schlesinger pointed out that the high cost of living, student loan debt, and stagnant wages are some of the factors contributing to millennials choosing to rent rather than buy. She also mentioned that the trend of permanent renting could have significant implications for the housing market, as it may lead to a decrease in home sales and a shift in demand towards rental properties.

Additionally, Schlesinger highlighted that the rise of remote work and the desire for flexibility are also influencing millennials’ decisions to rent rather than buy. With more young professionals opting for telecommuting and flexible work arrangements, the need for a permanent home may not be as pressing as it once was.

Overall, Schlesinger emphasized the importance of understanding the changing preferences and financial constraints of millennials when considering the future of the housing market. As more young adults choose to rent long-term, the real estate industry may need to adapt to meet the evolving needs of this generation. The impact of technology on the modern workplace has been profound and far-reaching. From communication tools to automation, technology has revolutionized the way we work and has transformed the traditional office environment.

One of the most significant changes that technology has brought to the workplace is the ability to work remotely. With the rise of the internet and mobile devices, employees can now work from anywhere in the world, allowing for greater flexibility and work-life balance. This has not only benefited employees, but also employers, as it has been shown to increase productivity and reduce overhead costs.

Communication tools such as email, instant messaging, and video conferencing have also drastically changed the way we communicate in the workplace. These tools have made it easier to collaborate with colleagues in different locations and time zones, streamlining the decision-making process and increasing efficiency.

Automation has also played a major role in transforming the workplace. Tasks that were once time-consuming and tedious can now be automated, allowing employees to focus on more strategic and creative work. This has not only increased productivity, but has also led to a more engaged and satisfied workforce.

Another area where technology has had a significant impact is in data analysis and decision-making. With the rise of big data and analytics tools, companies can now make more informed decisions based on data-driven insights. This has led to more accurate forecasting, improved customer service, and a better understanding of market trends.

Overall, technology has had a profound impact on the modern workplace, transforming the way we work and increasing efficiency and productivity. As technology continues to evolve, it will be interesting to see how it further shapes the future of work. Sports are an integral part of society, bringing people together and fostering a sense of community and camaraderie. From the thrill of victory to the agony of defeat, sports elicit a wide range of emotions and reactions from fans around the world. Whether it’s the excitement of a buzzer-beater in basketball or the drama of a penalty shootout in soccer, sports have a unique ability to captivate audiences and create memorable moments that will be talked about for years to come.

One of the most compelling aspects of sports is the way they transcend cultural and geographical boundaries, uniting people from all walks of life in a shared passion for competition and excellence. Whether it’s the Olympics, the World Cup, or the Super Bowl, major sporting events have the power to bring together millions of people from different countries and backgrounds, all rooting for their favorite teams and athletes to come out on top.

But sports are more than just entertainment – they also have the power to inspire and uplift, serving as a source of motivation and determination for athletes and fans alike. From the perseverance of a runner finishing a marathon to the teamwork of a basketball team working together to secure a win, sports teach valuable lessons about discipline, resilience, and the importance of working towards a common goal.

In addition to their physical and mental benefits, sports also have a positive impact on society as a whole. They promote healthy lifestyles and encourage people to stay active and fit, reducing the risk of obesity and other health-related issues. Sports also provide opportunities for social interaction and networking, helping to build relationships and connections among individuals who may not have crossed paths otherwise.

Furthermore, sports have the power to bring about social change and promote equality and inclusion. Through initiatives like the Special Olympics and programs aimed at increasing access to sports for marginalized communities, sports can help break down barriers and create a more inclusive and diverse society.

In conclusion, sports play a vital role in society, bringing people together, inspiring greatness, and promoting health and well-being. Whether you’re a die-hard fan or a casual observer, there’s no denying the impact that sports have on our lives. So next time you tune into a game or head out to the field, take a moment to appreciate the power of sports to unite, inspire, and uplift us all. The Impact of Climate Change on Global Food Security

Climate change is one of the most pressing issues facing our planet today, and its effects are being felt across the globe. One area where the impact of climate change is particularly significant is in the realm of food security. As temperatures rise and weather patterns become more unpredictable, the ability of farmers to grow crops and raise livestock is being increasingly compromised, leading to food shortages and rising prices.

One of the key ways in which climate change is affecting global food security is through changes in precipitation patterns. In many parts of the world, rainfall is becoming more unpredictable, with some regions experiencing more frequent and severe droughts, while others are seeing increased flooding. This can have devastating effects on crop yields, as plants require a consistent supply of water to grow. In drought-affected areas, crops may fail entirely, leading to food shortages and hunger. In flood-prone regions, crops may be washed away, leaving farmers with nothing to harvest.

Rising temperatures are also taking a toll on global food security. Many crops have specific temperature requirements for optimal growth, and as temperatures increase, these requirements may no longer be met. This can lead to reduced yields and lower quality crops. In addition, higher temperatures can also create more favorable conditions for pests and diseases, which can further reduce crop yields. Livestock are also affected by rising temperatures, as heat stress can reduce their productivity and even lead to death in extreme cases.

The changing climate is also affecting global food security through its impact on natural resources. As temperatures rise, water sources are becoming increasingly scarce in many regions, making it more difficult for farmers to irrigate their crops. In addition, deforestation and soil degradation, both of which are exacerbated by climate change, are reducing the amount of arable land available for agriculture. This means that farmers are forced to produce more food on less land, leading to lower yields and increased competition for resources.

In order to address the challenges posed by climate change to global food security, it is essential that we take action to mitigate its effects and adapt to the changing conditions. This includes investing in sustainable agriculture practices that can help farmers cope with changing weather patterns, such as conservation agriculture and agroforestry. It also means supporting smallholder farmers, who are often the most vulnerable to the impacts of climate change, by providing them with access to resources and technology that can help them adapt to changing conditions.

In conclusion, climate change is having a profound impact on global food security, threatening the ability of farmers to produce enough food to feed the world’s growing population. In order to address this challenge, we must take action to mitigate the effects of climate change and support farmers in adapting to the changing conditions. By working together to implement sustainable agriculture practices and support smallholder farmers, we can ensure that everyone has access to the food they need to thrive in a changing climate.