Posts tagged with "millennials"

Beyonce adidas x IVY PARK RODEO collection illustration via Alex Bogdan for use by 360 Magazine

IVY PARK RODEO

adidas and Beyoncé Launch Fourth IVY PARK Collection: “IVY PARK RODEO”

Ditch the ten-gallon hat and say “howdy” to stylish, western wear. adidas and Beyoncé are returning to present the latest adidas x IVY PARK collection. Inspired by the inimitable style and undeniable influence of Black cowboys and cowgirls, the “IVY Park Rodeo” collection celebrates the formidable impact of Black men and women on American Western culture. Beyoncé recently featured the fierce collection on the cover of Harper’s Bazaar. 360 Magazine is impressed at this fashionable collection that brings to light an important history that often goes unspoken. The collection celebrates the oft-hidden history of Black pioneers within cowboy and cowgirl culture and their continued influence and impact on the American Rodeo.

The Collection

A bold celebration of classic Americana reimagined for today, this is a refreshingly contemporary take on classic Western wear. IVY PARK Rodeo is where audacious design meets thoughtfully remixed classic streetwear and athletic wear fused with inspiration from the Black cowboy experience. The collection features 58 adult apparel styles, 5 adult footwear styles, and 13 different accessories. Cowboys and cowgirls of all ages can join in on the fashion show. Boasting dark denim fabrics and washed heavy French terry materials throughout, the apparel and accessories are elevated with unique denim monograms and bold purple glow cow prints. Utilitarian-inspired zips and snap fastenings complete the details.

Highlights from the apparel collection include a denim body suit and wide leg snap pant, a denim tracksuit, a washed French terry hoodie and matching sweatpants, denim chaps, a denim bucket hat, and a small cotton canvas waist bag. The footwear offering is exciting as well, with two colorways of the IVP Ultraboost – one which mimics the look of denim and a new colorway for the IVP Forum Mid. This collection introduces the new IVP Super Sleek “Chunky”, with an exaggerated outsole combined with a classic upper in two dynamic colorways.

The fourth IVY PARK collection launches exclusively on adidas’ website for 24 hours on August 19th and is followed by a wider global launch on August 20th.

adidas x IVY PARK Drop 4 consists of the IVP Super Sleek “Chunky” (priced at $140), the IVP Forum Mid (priced at $150), and the IVP Ultraboost (priced at $200.)

It is clear that adidas x IVY PARK  prioritizes inclusivity and diversity within all of their drops. Within this new capsule, clothing sizes range from XXXS-4XL / 1X-4X. Unisex sizes range from 4 US – 14 US, and specific women’s sizes range from 5 US – 14 US. Clothing prices range from $45 to $200 for adults.

With over 58 adult apparel styles, 5 adult footwear styles, and 13 accessories styles, there are plenty of choices for any wardrobe. Accessories including unisex hats, unisex bags, a denim bucket hat, a durag, socks, and bandanas. Accessory prices range from $25 – $75.

The collection concentrates on centering aesthetically pleasing colors and prints, including Dark Denim, Glory Blue, Dust Purple, Purple Glow, Ambient Blush, Prints are Dark Denim Monogram, Purple Glow Dark, Brown Cow Print. The soft, high-quality fabrics used in this collection include 100% Cotton 16.5oz blue twill denim, 99% Cotton 1% Elastane 10.8oz stretch blue denim, and 100% Cotton 13oz cow print cotton twill denim.

adidas and Beyoncé Introduce Kids’ Apparel for the First time with Fourth adidas x IVY PARK Collection: “IVY PARK Rodeo”

With this fourth launch, for the first time, adidas x IVY PARK introduces their kids’ collection, a capsule line of 16 apparel styles, offering an assortment of looks in sizes 2T-XL. Taking its creative inspiration from the adult collection, the line appeals to fashion conscious grown-ups who have a fresh eye on style and want their ‘mini-me’s’ to enjoy their wardrobe choices with the same enthusiasm and playful attitude towards fashion.

The Collection

A bold celebration of classic Americana reimagined for today, this is a refreshingly contemporary take on classic Western wear. IVY PARK Rodeo is where audacious design meets thoughtfully remixed classic streetwear and athletic wear fused with inspiration from the Black cowboy experience reimagined for the next generation. Highlights from the collection include purple glow cow print tights and a graphic t-shirt which reads ‘brought up rodeo’ in a printed cursive script font, as well as hoodies, shorts, sweatpants, and plain t-shirts.

The fourth IVY PARK collection launches exclusively on adidas’ website for 24 hours on August 19th and is followed by a wider global launch on August 20th.

The adidas x IVY PARK Drop 4 Kids offering consists of 16 kids apparel styles that include foundation and activewear (t-shirts, hoodies, shorts, sweatpants, and tights). Colors used within the collection include Purple Glow, Glory Blue and Ambient Blush and Off-White along with the Purple Cow Print. Clothing sizes range: 2T-XL for kids’ apparel and will be priced from $20 to $65.

  • Foundation: Washed French Terry Hoodie, Sweatpants, Crop and Graphic Tee
  • Active: Base Layer Boys Top and Tight, Woven Windbreaker and Short, Cow Print tight for Girls
Beyonce adidas x IVY PARK RODEO collection image via Kathryn Stelmack at PaulWilmotCommunications via Byl Thompson at Parkwood Entertainment for use by 360 Magazine
Beyonce adidas x IVY PARK RODEO collection image via Kathryn Stelmack at PaulWilmotCommunications via Byl Thompson at Parkwood Entertainment for use by 360 Magazine
Beyonce adidas x IVY PARK RODEO KIDS collection image via Kathryn Stelmack at PaulWilmotCommunications via Byl Thompson at Parkwood Entertainment for use by 360 Magazine
Nechelle Vanias Headshot 2021 via Jonathan Stinson at freedomunitedsocial for use by 360 Magazine

Nechelle Vanias Six Degrees of Influence Q×A

Nechelle Vanias is Chief Strategic Officer of the full-service digital marketing and talent agency, Six Degrees of Influence (SDI). Spearheading the agency, Nechelle looks to elevate professionally managed content. Through SDI’s three curated influencer content houses – The Vault, La Casita, and Twin Flames – the agency looks to offer a unique opportunity to both brands and content creators. 360 Magazine spoke with Nechelle about SDI’s approach to creating viral content, brand campaigns, Gen Z/Millennial trends, and more.

What void do the The Vault, La Casita, and Twin Flames houses fill in the professionally managed content collaboration house industry? 

Six Degrees of Influence (SDI) sought to create long lasting brands when developing The Vault, La Casita, and Twin Flames, not just an influencer hang out or Airbnb. SDI likens this approach some of the popular TV shows, like Love Island and Big Brother, where the audience falls in love with the show platform and may have their favorite contestants each season, but still come back to engage with the next season. In fact, SDI runs each of their content houses like a TV show production set replete with the same operations, including call sheets and writers’ room. This ensures a predictable, consistent and timely amount of content is produced for both the house social media channels and brand partners.

Six Degrees of Influence (SDI) uses a multi-channel content approach. What different channels do you use to promote content?

SDI employs social and live channels to promote the house’s content.  This includes live streaming fan events and on-site brand activations at the houses. The content houses’ reach is amplified beyond the house channels by hosting daily collaboration days with their influencer and Young Hollywood friends. [These collaborations] then create exposure for the guests’ audiences as well.

Is there a specific media channel that SDI influencers are currently focusing on the most? 

SDI knows that content creators can still earn more money that is relative to their follower count and engagement on Instagram and YouTube, than on TikTok. This is because Instagram and YouTube are established platforms from which brands have been able to experience quantitative conversion results over long periods of time.  Brands are still figuring out how to best use TikTok, thus while their marketing spends are increasing for TikTok. [However,] you can still earn more on the other platforms with less followers.  We have a creator with six five thousand followers on Instagram and earns $1,500 on average for one Instagram post, whereas her following of three hundred and fifty thousand followers on TikTok earns her $750 on average. Now, add in the fact that SDI has never seen followers move to other platforms in the way TikTokers are able to move their followers. Therefore, TikTok is still a large focus as it serves as an advertising tool to drive the growth of Instagram and YouTube. For these reasons, SDI focuses on Instagram and YouTube growth for the housemates, but certainly keeps TikTok front of mind.

What benefits does living in a content house offer influencers, as opposed to more traditional housing arrangements?

Collaboration amongst all creative types is a tried-and-true method of growing and being inspired.  Living in a content house offers influencers a tribe to go to for content ideas, support and camaraderie.  When run by SDI, that [support] comes with mental health check ins and encouragement. [Encouragement] is very necessary for influencers who are under an immense amount of pressure to maintain their brand. SDI also provides insight on platform growth, relationships with the platforms for exclusive campaign, and event opportunities, and secures brand deals for the housemates. Overall, in SDI’s houses housemates receive the support, resources and tools to grow their social platforms, increase their revenue potential and get a “masters” in the business of content creators.

Is there a formula/process that SDI follows when attempting to create viral content? 

In order to achieve viral content you have to put out A LOT of content. It is foremost a numbers game – the more content you deploy the more you increase your chances of going viral. The second most important process of creating viral content is to study data, so that you are putting out a lot of purposeful content with the intent to speak to a generation. Have your content resonate with [viewers] and have them respond with affirmation through their views, likes, shares and comments. SDI is a very data driven agency, so we are looking at what the data is telling us, what the comments of the fans telling us, what is trending in pop culture, what do we hear the talent talking most about, what is getting the views.  Once SDI has the “what”, we start looking at the “why” so that we can determine how to leverage the data to create viral content.

SDI creates custom designed campaigns for individual brands. How does SDI go about customizing these campaigns for each brand? 

We curate campaigns for brands that align with their overall marketing goals and what we know will be embraced by the creators. We speak the brands language, but live in the creator’s world, so we know how to create a win-win collaboration. We also leverage the unique setting of a content house in our campaigns.  Most specifically, the ability to do on-site branded activations and signage at the houses themselves.  For example, if it is a beverage brand, we might recommend a branded glass front refrigerator by the pool. If it is a clothing brand, we might recommend a branded master closet with signage that is full of the brand’s clothing. If it were a cereal brand, we might recommend a cereal bar in the kitchen.  All of these concepts would include intentional branded content created by the housemates, but also a more subliminal exposure in the background of content. [This subliminal exposure] has proven to be successful in traditional product placement [methods] used in TV and film. The possibilities are endless, and we look to get as creative as we can. [SDI] pushes the envelope [with] of out of the box ideas that deliver conversations and increase brand awareness.   

Who are some of the most popular content creators that SDI represents?

SDI works with many creators, and the most popular doesn’t always mean the most follower count.

Rave Vanias with 350k is a brand favorite, doing campaigns for brands such as Cinnamon Toast Crunch, HP and Fenty Skin. She also pulls thousands of views when she goes live on her social channels. Her confident personality and accessibility make her a favorite all around.

Alessya Farrugia has strong numbers on all channels (2M on TikTok, 391k on Instagram, 176k on YouTube) and is another talent. [Alessya is also] a brand favorite for campaign activations on TikTok, Instagram and YouTube.  She also is one of the few creators that appear on the gossip sites for her great looks, and not for drama.

Joshua Suarez, with almost 13 million followers on TikTok, is one of our largest creators. [He has] has great chemistry with his girlfriend, Star Abelar, who herself has almost 10 million followers on TikTok.

So many influencers audition to join content houses. What qualities does SDI specifically look for when finding influencers to represent your full-service digital marketing and talent agency? 

SDI is looking for creators that have a great work ethic and want to be great. If someone is doing this as a hobby, they are not a fit for the agency. SDI is looking to go on a journey with talent that are looking to take their careers to the next level, reach their full potential, and aren’t afraid to do the work that is needed to be great!  SDI doesn’t just sign talent with large followings, because we know that doesn’t necessarily translate into big money or meaningful careers. SDI is looking for creators that are coachable and passionate about their art because those are the ones that have the greatest potential impact on the industry!

SDI mentioned that their demographic mainly caters to Gen Z and Millennial fans. Which Gen Z/Millennial trends are SDI influencers currently creating content about? 

The Gen Z and Millennial generations are very confident in their self-expression, and SDI looks to amplify those voices. Relationships and connections are a main theme in the content we create – whether that be romantic, casual, family or friendly interactions. These generations are more connected [to each other than ever before] in history, thanks to technology and social media. So, [these elements] play a large part in their lives and create a universal theme with which they can relate and engage.  

Is SDI looking to create any more content houses in the future? 

SDI does indeed have two more houses in development for 2021, with plans for international expansion in 2022. SDI wants to create an international network of content houses that can incubate future leaders and give brands a platform to weave into the fabric of their customers’ lives.

Rita azar illustration for 360 magazine

Nickelodeon Inspired Pop-Up Bar

Gen Z, step aside – this one’s for the millennials. Chicago’s favorite pop-up bar, Replay Lincoln Park, 2833 N. Sheffield, is bringing back some good ole’ childhood nostalgia with their latest pop up, Nick Arcade, opening this Friday, June 11 just in time for the city’s Phase 5 reopening. Running through Sunday, July 11, the bar will transform all 9,000 square feet of their space, including their outdoor patio, into iconic spots inspired by 90’s Nickelodeon favorites including Rugrats, Hey Arnold, Are You Afraid of the Dark, CatDog, Doug, Rocko’s Modern Life and much more. The pop up will offer an exclusive selection of Nick-inspired cocktails as well as a themed food menu for guests to enjoy as they travel down memory lane. Tickets are now available, and reservations are highly encouraged.

The Nick Arcade pop-up will feature a throwback to some of the best moments from childhood favorites, allowing patrons the opportunity to finally take a selfie that their 90’s selves could only dream about. Along with bright colored decor specific to each show, bubbles will be plentiful and let’s not forget about the slime. Pop up aficionados will also have the opportunity to treat themselves to 90’s themed cocktails, slime shots, along with their favorite childhood lunchroom treats.

“Our fans love opportunities that give them a chance to relive their childhood,” said Mark Kwiatkowski, owner of Replay Lincoln Park. “This one is especially for the millennials looking to get back and enjoy the city officially reopening, and we’re looking forward to some much needed 90’s inspired fun this summer.”

Superfans who can’t wait to see the space, can RSVP for an exclusive first look the evening prior to opening, Thursday, June 10 between 5pm and Midnight. Guests can RSVP by emailing nickarcade610@gmail.com. Every patron who attends that evening and shows their vaccination card upon arrival will also receive a complimentary themed cocktail, Shea Coul-Ale or Fiji water. Valid only on Thursday, June 10 for those who RSVP.

The Nick Arcade inspired pop-up is 21+ after 7pm and costs $20 per person with a $20 beverage credit, for a 90-minute reservation. People under 21 will receive a commemorative t-shirt in place of the $20 drink credit. Covid-19 restrictions will be practiced and protocols will be strictly observed to ensure the safety of patrons and employees. Guests who show proof they have been fully vaccinated will be allowed to remove their masks. Please note, this is not an official event sanctioned by Nickelodeon.

Replay Lincoln Park features over 30 free vintage arcade games, including pinball, air hockey, skeeball and more. With no cover or tokens needed, Replay Lincoln Park invites guests for great fun from 5 p.m. – 2 a.m. Monday – Thursday, Friday 3 p.m. – 2 a.m., 12 p.m. – 3 a.m. Saturday, and 12 p.m. – 2 a.m. Sunday.

For more information or to reserve tickets to select events, please visit www.replaylincolnpark.com, call (773) 665-5660, or follow Replay on Facebook, Instagram, or Twitter.

Friends Door Frame illustration by Heather Skovlund for 360 Magazine

Friends: The Reunion

The One Where They Blew Up Social Media

 Friends Reunion Generates 7.4 Billion Engagements, Talkwalker Says

The Friends Reunion show, slated to start streaming on HBO Max, has generated 2.8 billion mentions and 7.4 billion engagements in the last week alone, according to international enterprise listening company Talkwalker.

Ranking by mentions of Friends cast alongside the reunion

           •   Lisa Kudrow 15K

           •   Jennifer Aniston 12.3K

           •   Courteney Cox 10K

           •   Matthew Perry 9K

           •   David Schwimmer 7.5K

           •   Matt LeBlanc 7.4K

The most mentioned celebrity appearances in the forthcoming reunion show include BTS, Justin Bieber and Lady Gaga.

Demographically it’s almost an even split of who’s talking about the show with 50.3 percent female and 49.7 percent male, Talkwalker reported.

Interestingly, self-described artists are making up 12 percent of the conversation, with

18-24s the largest cohort discussing the reunion online at 48.4 percent of the total, followed by 25-34s at 41.9 percent. So Gen-Z is talking about this more than Millennials, who grew up with the show.

The most excited fanbase for the reunion, as for many things, is Korean super-group BTS. Their posts about their appearance on the show are generating the most engagement.

As a fun aside, the phrase “the one where they” has seen 15K mentions, a huge uptick, over the last month, and in the last week especially, as fans prepare for the show. 

One of 2020’s key social media trends was nostalgia, which continues to be apparent in 2021 as evidenced by reunions and spin-offs like this Friends reunion.  Talkwalker’s Media & Entertainment Report give more details about Friends, along with Fuller House, Sex & the City and Seinfeld/Curb Your Enthusiasm.

About Talkwalker

Talkwalker is an enterprise listening company helping the world’s largest brands to drive revenue by activating the voice of their customers. Through our AI-powered platform, we gather data from the conversations that happen around your brand – online, in the media, and within your company – to uncover, understand, and action consumer insights.

Over 2,000 companies worldwide already use this conversational intelligence to protect their brands, measure their campaign impact, and identify what drives purchase decisions. Building consumer connections and helping to make them globally loved brands.

Talkwalker has offices in Luxembourg, New York, San Francisco, Frankfurt, Singapore, Paris, Tokyo, London & Milan, with 400+ employees across the globe. It is also the home of Talkwalker Alerts, a free alerting service used by over 500,000 communications and marketing professionals worldwide.

Book illustration by Heather Skovlund for 360 Magazine

NIXON LIBRARY REOPENS MUSEUM

AFTER 14 MONTH CLOSURE, NIXON LIBRARY REOPENS THEIR MUSEUM

Announces plans to honor First Responders, open Civic Education Center, expand opportunities for Young Leaders

The Richard Nixon Presidential Library and Museum reopens today at 10:00 AM PT, with a red white and blue ceremony to welcome its first museum visitors since March of 2020. This is the first presidential library to reopen in the U.S. following month-long closures from the Covid-19 pandemic. Eight first responders and frontline workers will cut the ribbon to officially reopen the museum. 

“After 14 challenging months, we couldn’t be more pleased to welcome visitors to the first presidential library in the country to reopen its doors,” Nixon Foundation President Hugh Hewitt said. “I’m grateful to our partners with the National Archives, to our community leaders for their continued support, and to our Foundation members for their dedication to our educational mission.”

Three new exhibitions await visitors to the Nixon Library:

  • The Presidents Club —briefly open for a few weeks last Fall— will reopen today. This originally-curated, storyteller exhibition chronicles the fascinating friendships and rivalries between some of history’s most well-known U.S. Presidents, from our Founding Fathers to the present day.
  • The President and The Planet, an outdoor exhibit perfect for all ages, that explores the consequential environmental initiatives of the Nixon administration.
  • Evening the Odds: Women Leading the Way, a permanent display on the legacy of the Nixon administration’s efforts to advance women in athletics, politics, and business.

The President’s original farmhouse birthplace reopens today as well. The Pat Nixon Rose Gardens continue to burst with color, filled with blooming, picturesque annuals, perennials and more. The Gardens —and the flower-ringed Memorial Site of President and Mrs. Nixon— are open and included with regular admission. 

Additionally, Hewitt announced that Tricia Nixon Cox, on behalf of the Nixon Foundation, will lead a Rose Garden Party salute to scores of frontline workers and first responders on June 12, 2021. The Foundation has invited representatives from charities with which it worked to coordinate its 14 month-long Conquering Covid campaign.

Hewitt also announced the Nixon Foundation’s intention to create and ultimately endow a Civic Education Center at the Nixon Library. 

Hewitt said: “President Nixon was committed to bringing young Americans into the political process; he advocated for the 26th amendment to lower the voting age to 18, and for expanding educational opportunities wherever possible. In that spirit, I’m proud to redouble the Nixon Foundation’s commitment to its educational mission by partnering with Southern California educational institutions to promote civic learning and fill a void that exists in our school systems today.” 

The Foundation will invest in its online distance learning initiatives and in-person civic education programs for high school students and teachers, and plans to operate them frequently. 

“One of the Nixon Foundation’s major post-pandemic priorities is to ensure that the basic pillars of American citizenship are alive and well among school-aged Americans,” Hewitt added. 

 After closing the Nixon Library’s doors in March of 2020, the Nixon Foundation continued its work by having:

  • Coordinated a 14-month campaign to support first responders by hosting more than 40 blood drives, four food drives and acquiring and donating 700,000 masks to schools, small businesses and medical workers. 
  • Migrated its educational mission fully online by adopting new distance learning initiatives.
  • Hosted then-Secretary of State Mike Pompeo and then-EPA Administrator Andrew Wheeler for major policy announcements in July and September 2020, respectively. 
  • Launched The Nixon Seminar on Conservative Realism and National Security, a monthly online gathering of senior statesmen and rising specialists in various aspects of great power competition and American national security to discuss issues of current and continuing importance to the nation’s interests abroad.
  • Enhanced its iconic rose gardens and renewed its partnership with the American Rose Society to keep the flowers looking beautiful. 
  • Introduced “The President’s Society,” a new level of membership support open exclusively to millennials.

The Richard Nixon Presidential Library and Museum is open every Wednesday through Sunday from 10:00 a.m. to 3:00 p.m.

The museum and federal spaces are open according to federal COVID-19 requirements, while requirements in the privately-managed Nixon Foundation spaces will continue to align with guidance from the State of California and the County of Orange.

Visitors are encouraged to purchase tickets online in advance of their visit by going to this website.

Mission-based events, speakers’ series programming and privately-contracted events at the Nixon Library are gradually resuming in accordance with guidelines issued by the State of California. 

'Homme 277' NFT illustration by Heather Skovlund for 360 Magazine

HOFA Gallery NFT Artworks

HOFA Gallery NFT artworks will appear alongside corresponding physical artworks at London exhibition this week

Press preview in gallery and virtually: Thursday 13 May 2021, 10.00 – 18.00 (BST)  

As the NFT artwork phenomenon continues to expand the boundaries of collectible art, HOFA Gallery is boldly reprising their role as pioneers with the upcoming release 15 May release of NFT artworks as digital complements to physical works currently on display in the ‘Matter & Form’ exhibition. 

The planned press preview will take place at HOFA Gallery, Mayfair on Thursday 13 May 10.00 – 18.00 (BST) in gallery or virtually by appointment (photographers and videographers welcome).  

Jan KalabLoribelle SpirovskiGregory Siff and Darian Mederos, four widely celebrated feature artists in HOFA’s latest group exhibition, will release their crypto artworks on via a special collaboration with MakersPlace – the world’s largest art NFTs marketplace.  This move bridges the perceived gap between conventional art and digital art and is part of HOFA’s ongoing effort to put contemporary art within reach of today’s younger, tech-savvy art collectors. 

HOFA Co-founder Elio D’Anna says “Traditional, conventional art has always struggled with the problem of accessibility, which meant that many people were excluded from enjoying and investing in art. Furthermore, it has meant that artists could only reach a fraction of their potential audience.” 

He continues Finally, the world of digital is steadily levelling the field, and today we are seeing the NFT phenomenon address this problem of accessibility in a new way by giving legitimacy and currency to digitally subsisting art.

In 2018, HOFA made headlines when it became the first to embrace the possibilities of blockchain-powered cryptocurrency by making their entire art holdings available for purchase using Bitcoin and Ethereum. Along with innovative partners, HOFA also helped established the world’s first digital asset-based art investment platform which enables full and partial investments in blue-chip contemporary artworks using secure blockchain technology to authenticate and record transactions.  

HOFA Co-founder Elio D’Anna sums up “By embracing the world of collectible NFT art, both the gallery and our emerging and established contemporary artists can exponentially expand their reaches.  We are finding these new audiences, consisting mainly of Millennials and Gen Zs, are enthusiastic about art and keen to have digital-first art experiences that are easily personalized and conveniently accessible via smart devices.”

Press preview: ‘Matter & Form’ at HOFA Gallery, Mayfair on Thursday 13 May 2021, 10.00 – 18.00 (BST), in gallery and virtually by appointment only.  

In compliance with Covid-19 safety protocols, all visits to the gallery will be strictly on RSVP basis.

Matter & Form video

HOFA Gallery Website

HOFA Gallery Instagram

‘Homme 277’ NFT by Loribelle Spirovski drops on MakersPlace 15 May 2021
‘Breathing Turkis Lagoon’ NFT by Jan Kalab drops on MakersPlace 15 May 2021
 ‘Games of Youth & Legend’ NFT by Gregory Siff drops on MakersPlace 15 May 2021

Pandemic Real Estate Trends

5 Massive Real Estate Trends Created by the Pandemic

By: Polina Ryshakov, Director of Valuation at Sundae

Coronavirus has had a huge impact on a number of demographic and home buying and selling trends. Here are 5 of the most noteworthy shifts. The coronavirus pandemic upended daily American life in countless unpredictable ways. Real estate was no exception. Some of the ways in which the pandemic affected housing reshape how we think about homeownership and hint at larger economic shifts down the line.

First-time buyer demographics prior to 2020

The median age of first-time homebuyers was around 33 before the pandemic started. This is the oldest age recorded since 1981 when the median age of first-time homebuyers was 29.  As homeownership is commonly considered a gateway to wealth creation and a key piece of the American dream, an older average first-time buyer age could reflect a lack of economic opportunity for young people. Over the past few decades, there were several factors behind the extra four years it takes on average to buy a first home.

Contributing factors include:

  • A skyrocketing increase in college tuition
  • Delay in household formations (i.e., having children later)
  • Rapid home appreciation causing a lack of affordability
  • Other key demographic trends predating the pandemic

The median age of repeat buyers increased even more rapidly between 1981 and 2020, going from 36 to 55. As with first-time home buyers, multiple interesting factors drove this trend. For example, some studies claim that baby boomers prefer to age in place, identifying 3.6 million unoccupied rooms owned by baby boomers, thus contributing to the housing shortage.

But it’s not that simple.

Since 1980, wage growth hasn’t kept up with inflation for over 50% of American workers. Meanwhile, the dot.com bust and the Great Recession dropped S&P levels 43% and 48%, respectively, which also reduced home equity at a similar level. These essentially trapped boomers because they owed more on their homes than they could get for them, while at the same time suffering hits to their overall wealth. The Great Recession also created an opportunity for older Gen Xers and boomers with cash to purchase investment properties. As home prices dipped following the bubble bust, Americans seized their chance to buy properties for passive income, and with more distressed properties for fix and flip opportunities, real estate became a more popular way for people above-median home-buying age to create wealth, thus contributing to the increased repeat buyer age. The biggest jolt in demand is yet to come

The largest age bracket among millennials, which adds up to nearly 10 million people, has been turning 30 over the last two years. This is the milestone age of starting a family and buying a home; their home-buying appetites are already starting to show. According to the NAHB Trends Report, between the fourth quarter of 2019 and that of 2020, the number of millennials and Gen Xers actively searching for a home increased dramatically, from 46% to 65% and 43% to 57%, respectively.  The relative numbers of Gen Zers and boomers remained essentially flat, with 42% and 32% looking for a home, respectively. With this demographic backdrop, and the continuing economic and social fallout from the coronavirus, what are we likely to see over the remainder of 2021 and beyond?

Trend #1: Median age of first-time homebuyers will decline

Millennials’ desire to own a home has been long debated. A number of long-term trends put millennial homeownership on the backburner:

Interestingly, the COVID-19 pandemic created an attractive new opportunity for this demographic cohort. Several things came together: immediate demand for more space with the need to work from home, record low-interest rates that translate to lower monthly mortgage payments, and the last piece of the puzzle, increased savings. While staying home, there is no need to buy new clothes or daily Starbucks. There is no going out after work or on weekends, and a lot less travel, for work or pleasure. In fact, the virus even put a pause on paying off college debt, since it became a COVID-19 Relief option. The bottom line is that more people will have the ability and interest to buy a house, sooner than they were before.

Trend #2: Median age of repeat home buyers will decline

The median age of repeat home buyers is likely to decline immediately post-pandemic but will revert to the pre-pandemic increasing trend quickly.  The average tenure of homeownership continued to increase and was over 8 years at the end of 2020, up from 4 years in 2007, before the Great Recession. Assuming the median age of the typical “move up,” or second-time home buyer is roughly 40 years old (given the simple math of 33 + 8), a median repeat buyer age around 55 means that a lot more people in their 50s, 60s, and 70s are acquiring third, fourth, or even fifth properties. One of the factors behind the dramatic age increase in repeat buyers since 1981 is the growing popularity of real estate as an investment. During the Great Recession, mom and pop investors who had cash and solid credit were able to build their rental income portfolios by capitalizing on depressed home prices and strong rental demand from distressed homeowners.

Another factor is the baby boomer generation born between 1940 and 1964 has been downsizing. According to the latest Census data, many baby boomers will be single in retirement. Almost a third of men and over half of women are unmarried at 65 or older. With the onset of the pandemic, city dwellers who could work remotely and whose kids started going to school virtually began looking for bigger houses and open spaces in rural areas. With interest rates at historic lows, amid the pandemic, it became a strangely perfect time to buy a dream vacation home away from major Metropolitan Areas.  The annual rise in second-home mortgage applications is more than double the increase in mortgage applications for primary homes, with demand-driven primarily by families with kids.  Aside from vacation homes, working, learning, dining, working out, and self-entertaining at home created the need for more space and put a larger value on the fourth bedroom or larger back yard.

Trend #3: Length of the home search process increased and will keep increasing

Lack of supply sets the trend for buyers to view fewer homes while the home purchase process itself is increasing. Tight inventory results in fewer homes on the market and buyers must search longer for the right home. With fewer homes available, there are fewer homes that fit the buyers’ requirements coming on the market. On top of that, in the Housing Trends Survey the number one reason 40% of home searchers cited, is being outbid by other offers as opposed to not being able to find an affordably priced home, which is a big difference from 19% of home searchers a year ago.

Trend #4: Fewer sacrifices will be made to purchase a home

Financial experts recommend having three to six months’ worth of expenses saved up in an emergency account. But at the end of 2019, according to GoBankingRates survey, 69% of Americans have less than $1,000 in savings. The personal savings rate or amount people are saving as a percentage of their disposable income, soared to 33% in April of 2020. That was the highest savings rate recorded since BEA started tracking it in 1959. People realized the importance of having emergency funds and at the same time, stimulus payments and tax refunds have been distributed to help build up a reserve. Per Generational Trend Report from NAR, in order to save for a down payment, homebuyers had to cut spending on non-essential items, entertainment, clothes, vacations, get a second job or sell a car. But with severe limitations on how money can be spent, savings built up on their own.

Trend #5: Fewer repeat buyers will compromise on the top four reasons 

With so few homes for sale, the additional risks of holding an open house to sell their own, and having crowds doing walkthroughs, move-up buyers are likely to stay put unless a property that meets most of their needs is identified and won in a bidding war. Not only have public health concerns necessitated virtual tours, but homebuyers are getting savvier with online tools. Even before the pandemic, 93% of homebuyers used the internet as a resource in their home search, according to the NAR. Sellers are having to keep up with the trends, too.

Further Reading: Real Estate Shifts to Accommodate Customers in a Virtual Age

What will be the big theme for 2021?

To start, a massive fear of missing out.

The headlines of every major media outlet are screaming about continuous home price appreciation. The thought of home prices reaching the point of being out of reach while interest rates have nowhere to go but up will be the end of the last opportunity to buy that first, or second, or even an investment property.

With a tight, low-inventory market dipping under 2 months of supply, the strongest contract activity in a decade, and historically low-interest rates, buyers’ fear is well-founded and likely to only get worse.

But don’t take our word for it.

Gabrielle Archuleta illustration for gaming article inside 360 MAGAZINE

Classic casino games – why they’ve stood the test of time

One of the largest and most successful industries in the world is the casino industry, both brick and mortar and online. The physical and online casino industry is currently worth an estimated $227 billion, with online casinos alone bringing in $46 billion of that number. If a person were to compare the casino landscape from 20 years ago to today, it is vastly different as the industry continues to move online. 

Even the iconic physical slot machines have been replaced with digitalized slot machines with algorithms predicting a win or loss. Although, in spite of all the technological advancements and the fact that every casino game has now moved online, they’re all practically still the same. It might not be easy to tell they’re the same with the graphics and game modes now offered on popular casinos like Vera & John, according to Manekineko Casino Vera & John offer over 350 slot games. So, it’s clear that slots have stood the test of time no matter the type of casino you play at now, whether in person or at home from your mobile. It is obviously to some degree due to the popularity of the classic casino games, and that they were designed in such a way to withstand the test of time, although there could be other factors that we’re going to look at. 

Familiarity 

When someone brings up the image of a casino in their mind, many people would think of rows of slot machines, table games such as blackjack, poker and the iconic roulette wheel, even without having visited a casino before or played any of the games. This is because these games have become imprinted on people’s memory, whether it be through books, stories, movies or television series; there is an expectation of what a casino should look like, and as a result, these are the games that are provided. In addition to these games becoming iconic, the online casino industry needs them to maintain their initial success. 

This is because the games are familiar to those new to playing casino games, and also for the experienced gamblers moving online, which is critical for online casinos since they are relatively new, and new games might not gain the same traction as the classics. 

Some don’t require skill and are fun 

Some casino games are designed in such a way to be fun and not require skill, such as slots, which is something that every new gambler needs; a simple game to introduce them to gambling. Games like slots, baccarat and bingo are all engaging yet simple, and offer fast gameplay that doesn’t require much in the way of strategy. These games are perfect for someone just looking to pass the time, or to test their luck. 

Although even slot games have changed dramatically over the years to maintain their relevance, whether it be by the added animations or the many themes, such as celebrities, sports or superheroes. Some slot games are even adopting video game themes to appeal to a younger audience, and bingo is vastly different too. 

The odds are better

In terms of people wanting to win money, the classic table games give the best odds, even online. Games like blackjack have an average house edge of 0.5%, video poker has a house edge of 0.46% and roulette is 5.26%. To give an example, a person could play blackjack with a $200 bankroll and bet $2 per hand, and be able to play for over 4 hours if they use basic strategy. 

This kind of low house edge is extremely appealing for many gamblers, especially those who don’t have a lot of experience. In addition to the house edge, all of the games listed above include a social factor, which is extremely important for the entertainment value of the game. 

Things might be changing

With all of that being said, things might be changing though, as the more experienced gamblers become less. Millennials are slowly becoming the main customer base for the casino industry, and because of that, a few games are slowly becoming less popular. Studies show that millennials are interested in games with strategy and skill, and find games like blackjack and slot unfair and uninteresting. 

Even Las Vegas is not really a gambling destination anymore, but a party destination, with room revenue from hotels being almost the same as the revenue from casinos, indicating that millennials are more interested in partying than gambling. Online gambling however shows an increase in the popularity of poker and sports betting, virtual and real, amongst millennials. However, traditional, classic casino games are not going anywhere, any time soon.   

Be sure to check out gclub for more information about the aforementioned.

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TAKE A VIRTUAL ROAD TRIP

By Armon Hayes × Vaughn Lowery

A virtual road trip is a prompt, safe and innovative way to entertain yourself as well as a family when social distancing is the new way of life. With more time spent at home, surveying ways to decompress when working from home and cabin fever sets can be overwhelming. Prowling the web compels imagination and spirit, here are suggestions to consider during your virtual trip. 

Do include online gaming that tests your luck, for starters online poker at Coyote Bob’s casino will stimulate your mind maintaining engagement. Interactive and strategic hence no time for tedium. Gaming is essential to any trip, despite your game of choice, or age online gaming is growing progressively. Approachable to the fingertips with exciting new ways to include friends or foreigners alike on the web. 

Interactive games like Poker and Spades allow you to invite a partner, or take your chances with a virtual opponent. Whether arcade or trivial include socializing part of your routine permitting distance and normalcy from the harsh realities of a worldwide epidemic.

Choose this time to discover new places now when travel is risky and shunned upon. Discover new destinations to check off your bucket list while learning about the universe around you.

360 Magazine shares music playlists and extensive cooking options in detail of a virtual experience. Take a trip to visit the Music City aka Nashville with an online experience which will virtually connect you with such a beloved city. Simply head over to their CVB’s official site and conduct virtual tours of the Omni Hotel, City Winery and the Country Music Hall of Fame.

During your virtual trip, I recommend introducing yourself to emerging social apps. Finding fresh new fun ways to keep in touch sharing your experience virtually or try meditation with friends and love-ones. Emerging social apps keeping it simple and self explanatory like Houseparty and Google Hangouts are virtual room simulators where a happy hour won’t subject you to a deadly virus.

The latest on-camera/voice messenger app is Zoom. Originally made for business and conference calls, is now being heavily used during this period of shelter in place. As of late, two of our team members lost their grandparents. Regrettably the two of them weren’t able to attend the funerals due to the coronavirus lockdown. Thanks to this dedicated video conferencing app, both of them were able to virtually attend while still practicing physical distancing. Other useful ways to utilize this platform includes, but not restricted to, the following virtual experiences: wine tasting, college reunions, organizational gatherings and music listening parties (gives the viewers an opportunity to directly speak to the recording artist while listening to their new EP).

Thus, virtually invite a few friends to meditate, engage in a yoga session as well as share your quarantine experiences and best practices. Even if social media apps aren’t your ideal form of communication, you’ll value the innovative virtual experience. Get in touch with yourself while productively passing time.

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Rileyy Lanez- Beautiful Mistakes

R&B songstress Rileyy Lanez has released her debut EP Beautiful Mistakes via Columbia Records. The 5-track project includes previously released songs, “Foul Play” and “I’m Leaving”, as well as “Left 4 Me” which was released alongside a stunning visual. Listen to Beautiful Mistakes here and watch the video for “Left 4 Me” here.

In speaking about the EP, Rileyy says “I’ve seen so many people around me get their heart broken into pieces. Seeing this and knowing there are thousands of people going through the same shit made me want to write and create something beautiful that expresses these feelings.”

Born and raised in the Bronx, 19-year-old Rileyy Lanez pulls no punches with her heart-on-her sleeve R&B music. In May of 2019, she released her original song “I’m Leaving,” which has over 16M streams and 7.7M+ video views. Rileyy is also featured on Lil Tjay’s album track “Post To Be,” and she launched her vlog series “LANEZ LIFE” – watch the first episode HERE.

Beautiful Mistakes serves as a foreward for what’s to come from one of R&Bs most promising voices and rising stars.