How a Smart Home Can Save You Time and Money

How a Smart Home Can Save You Time and Money

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By Beth Braverman

More than a quarter of Americans have smart home products and they report that the devices save them an average of 30 minutes a day and more than $1,000 per year, according to a new report by Coldwell Banker and CNET.

Adoption of smart home products is even higher among millennials, with more than half embracing the technology. Additionally, parents of young children are twice as likely to have installed smart home products than non-parents.

“Smart home technology is catching on because it is literally changing the way we live in our homes,” Coldwell Banker Chief Marketing Officer Sean Blankenship said in a statement. “Not only is it shifting the financial perception of the home, but it is also transforming our emotional connection to our homes.”

Related: Want a Smarter Home? You Don’t Have to Wait

More than eight in 10 of those surveyed said they’d be more likely to buy a home if it included smart technology like connected lights, thermostats or security systems. Nearly three-quarters said that smart home products provide peace of mind when it comes to home security.

Those numbers are expected to grow as technology gets better and cheaper, and millennials start purchasing and upgrading homes in larger numbers. A 2013 report by the Organization for Economic Co-Operation and development found that a four-person family had about 10 connected devices, but projected that number to grow to about 25 in five years and as many as 50 in 10 years.

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Are States Ready for the Next Downturn?

A <a href="http://www.rasmussenreports.com/public_content/business/indexes/rasmussen_consumer_index/rasmussen_consumer_index" target="_blank">recent poll</a> taken by Rasmussen found that 68 percent of Americans believe that we are actually in a recession
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By The Fiscal Times Staff

The Great Recession hit state budgets hard, but nearly half are now prepared to weather the next modest downturn. Moody’s Analytics says that 23 states have enough reserves to meet budget shortfalls in a moderate economic contraction, up from just 16 last year, Bloomberg reports. Another 10 states are close. The map below shows which states are within 1 percent of their funding needs for their rainy day funds (in green) and which states are falling short.

Chart of the Day: Evolving Price of the F-35

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By The Fiscal Times Staff

The 2019 National Defense Authorization Act signed in August included 77 F-35 Lightning II jets for the Defense Department, but Congress decided to bump up that number in the defense spending bill finalized this week, for a total of 93 in the next fiscal year – 16 more than requested by the Pentagon. Here’s a look from Forbes at the evolving per unit cost of the stealth jet, which is expected to eventually fall to roughly $80 million when full-rate production begins in the next few years.

Wages Are Finally Going Up, Sort of

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By Yuval Rosenberg

Average hourly earnings last month rose by 2.9 percent from a year earlier, the Labor Department said Friday — the fastest wage growth since the recession ended in 2009. The economy added 201,000 jobs in August, marking the 95th straight month of gains, while the unemployment rate held steady at 3.9 percent.

Analysts noted, though, that the welcome wage gains merely kept pace with a leading measure of inflation, meaning that pay increases are largely or entirely being canceled out by higher prices. “The last time unemployment was this low, during the dot-com boom, wage growth was significantly faster — well above 3.5 percent,” The Washington Post’s Heather Long wrote. The White House Council of Economic Advisers this week issued a report arguing that wage gains over the past year have been better than they appear in official statistics.

Quote of the Day: Time to Raise Taxes?

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By The Fiscal Times Staff

“Tax revenue as a percentage of gross domestic product is expected to be 16.5 percent next year. The long-term average in a full-employment economy is 18.5 percent of GDP; if revenue were at that level for the coming decade, debt would be $3.2 trillion lower and the 10-year fiscal gap would be halved. Returning to past revenue levels, however, will be inadequate over time, because an aging population will increase Medicare and Social Security costs. This need not pose a problem: Revenue was roughly 19 percent of GDP in the late 1990s, and economic conditions were excellent.”

– Former U.S. Treasury Secretary Richard E. Rubin, writing in The Washington Post