GOLDENDALE, Wash., Aug. 07, 2019 (GLOBE NEWSWIRE) -- Auscrete Corporation (OTC QB: ASCK) (the “Company”) Management surmised that for Millennials, affordable & energy efficient homes are not cheap, they’re “Priceless”.
Never before in the USA has home ownership became so hard for the Millennial age group of around 22-37 years. Some are even naming it “The Generation of Renters”.
Today’s Millennials have all been priced out home ownership and achieving the long-lasting all-American Dream.
However, through Auscrete’s economically priced hybrid-concrete technology, Auscrete Corporation is beginning to walk that back for the Millennial generation, by giving them the opportunity to buy & own the largest single asset that most families will ever own.
While the Financial Crisis of 2008 – 2010, impacted all but especially the Millennials by creating a generation of renters, thus changing the Financial Planning for a generation for decades to come.
Besides the Financial Crisis, (1) new findings from the New York Federal Reserve reveal that Millennials have now racked up over US$1 trillion of debt. This troubling amount of debt, an increase of over 22% in just five years, is more than any other generation in history. With the student loan debt service being so high on a monthly basis, causing the Millennials, while becoming the largest segment of the labor force, are being forced to rent instead being able to enjoy the asset appreciation of home ownership like previous generations did, thus changing the Financial Planning of an entire generation.
According to an article and study in Bloomberg on July 19th, 2019, (1) “Millennials are flocking to the Pacific Northwest, study finds.” The study shows the top 10 Metropolitan areas being sought out by Millennials, 6 of the top 10 are within the serviceable range of ASCK. That is, 60% of the top Metro areas booming with Millennial growth. While moving to these areas the Millennials are competing with other Millennials for housing, thus driving up markets that were already overheated in valuation.
This will create a distinct advantage for ASCK with any developer or builder, due to the affordability that ASCK brings to the table. it will allow those developers and builders to be very competitive in those markets by signing contracts with ASCK for its cost-efficient construction panels, which are then erected onsite. Generally, they will be completed on-site, from start to finish, in about 2 weeks, well below the industry average of 6 months.
Presently, the Auscrete Management team has been working with a client on finalizing the blueprints for the already committed project of having $1 Million in revenue. This looks to be completed within the next 10 days to 2 weeks and gearing ASCK for production. The developer has a long-standing relationship with the ASCK Management and could provide an additional 8-12 homes next quarter as well.
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(2)https://www.bnnbloomberg.ca/millennials-are-flocking-to-the-pacific-northwest-study-finds-1.1289773
SAFE HARBOR
“Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: Certain statements contained in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by their use of forward-looking terminology such as “may,” “expect,” “intend,” “estimate,” “anticipate,” “believe” and “continue” (or the negative forms thereof) or similar terminology. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results or those implied by such forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results may differ materially from those contemplated by such forward-looking statements. Auscrete Corporation assumes no obligation and has no intention of updating these forward-looking statements, and it has no obligation to update or correct information prepared by third parties that is not paid for by Auscrete Corporation. Investors are encouraged to review Auscrete Corporation’s public filings on SEC.gov and otcmarkets.com, including its unaudited and audited financial statements and its OTC markets filings, which contain general business information about the company’s operations, results of operations and risks associated with the company and its operations.
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CONTACT: For more information, please contact:
Investor Relations
Lee@auscretehomes.com
305-853-8404
www.auscretehomes.com