🏠 Axios PM: Millennial milestone

Plus: "Star Wars" returns | Friday, April 07, 2023

Open in app View in browser   Presented By Walmart   Axios PM By Mike Allen · Apr 07, 2023 🌞 TGIF! Wishing you the best holiday weekend, as Passover, Ramadan and Easter overlap. Today's PM — edited by Alex Fitzpatrick and Kate Nocera — is 495 words, a 2-min. read. Thanks to Sheryl Miller for the copy edit.     🏠 1 big thing: Millennial homeowner record Data: RentCafe. Chart: Axios Visuals Millennial homeowners outnumbered millennial renters for the first time last year, despite creeping interest rates and a tight real estate market, Axios' Kelly Tyko reports. The number of millennial homeowners increased by 7.1 million between 2017 and 2022 to 18.2 million — a 64% jump — according to a new RentCafe report. Richmond, Las Vegas and Milwaukee have seen the country's highest spikes in millennial homeownership. The average millennial bought their first home at 34, compared to 33 for boomers and 32 for Gen Xers. Still, 17.2 million millennials continue to rent — and older Americans still have more homes. Baby boomers owned about 32.1 million homes as of 2022. Gen Xers owned around 24.4 million. Home prices have been on the decline, with prices falling in January for the seventh consecutive month, according to S&P CoreLogic Case-Shiller data, Axios' Nathan Bomey reports. But prices were up 3.8% from a year earlier, led by gains in cities such as Miami, Tampa and Atlanta. Go deeper.     2. 👨🏽‍💻 Less work, more life Data: Bureau of Labor Statistics + calculations by Katharine Abraham, Lea Rendell. Chart: Axios Visuals Americans are working fewer hours each week than they did before the pandemic, Axios Markets co-author Emily Peck reports. The average workweek was 36.9 hours in November 2022, down from 37.5 in January 2020, according to a new paper analyzing Labor Department data. About 10% of the decline could be attributable to workers with long COVID, the authors estimate. The rest is "more of a puzzle," they write. But anecdotal evidence points to a "broad-based re-evaluation regarding the balance people wish to strike between their work and personal lives." Go deeper.     A message from Walmart Walmart offers customers an Easter meal at last year's price     Food costs are on the rise, especially for Easter essentials like eggs. Walmart has worked hard to offset the higher cost of eggs by lowering the cost of other Easter essentials. The retailer is offering an entire Easter meal at the same price as last year. Learn how Walmart is keeping prices low.     3. Catch me up Photo: Sebastian Gollnow/picture alliance via Getty Images Above: An actor portraying Jesus carries the cross through Bensheim, Germany, as part of a Good Friday procession — the town's first since COVID. Justice Clarence Thomas acknowledged he failed to disclose luxury trips from a GOP donor — but said he believed he'd done nothing wrong based on guidance he received. "These guidelines are now being changed," Thomas said in a statement. "And, it is, of course, my intent to follow this guidance in the future." Go deeper. The U.S. economy added 236,000 jobs in March. The unemployment rate ticked down to 3.5% — the lowest level in over a half-century, Axios Macro co-author Courtenay Brown writes.     4. 🍿 1 film thing: "Star Wars" returns Lucasfilm President Kathleen Kennedy at a "Star Wars" studio event in London today. Photo: Kate Green/Getty Images Three new live-action "Star Wars" movies are on the way, Lucasfilm announced today: One, set after "Rise of Skywalker," will feature Daisy Ridley reprising her role as Rey on a quest to rebuild the Jedi Order. Another will tie together events of several Disney+ "Star Wars" shows, including "The Mandalorian" and "Ahsoka." The third, taking place well before George Lucas' original films, will focus on the Jedi's genesis. The news follows reports that other planned "Star Wars" films — including a "Rogue Squadron" project helmed by Patty Jenkins — have been shelved.     A message from Walmart An entire Easter meal and basket for less than $100     65% of Walmart customers expect inflation will have an impact on their Easter celebration. To ensure their customers can focus on celebrating, Walmart is offering a curated Easter meal and Easter basket at last year's price. Learn how Walmart is helping customers save money and live better.   Are you a fan of this email format? Your essential communications — to staff, clients and other stakeholders — can have the same style. Axios HQ, a powerful platform, will help you do it.   Axios thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content. Axios, 3100 Clarendon B‌lvd, Arlington VA 22201   You received this email because you signed up for newsletters from Axios. To stop receiving this newsletter, unsubscribe or manage your email preferences.   Was this email forwarded to you? Sign up now to get Axios in your inbox.   Follow Axios on social media: