More examples of of what the Millenial Generation is thinking... They are no longer interested in monster homes that exceeds their physical needs. Just as car sales have plummeted among their age cohort, the share of young people getting their first mortgage between 2009 and 2011 is half what it was just 10 years ago, according to a Federal Reserve study in the US. Since the end of World War II, new cars and suburban houses have powered the world’s largest economy and propelled our most impressive recoveries. Millennials may have lost interest in both. Moreover, retirees also are increasing demand for low-maintenance, lower operating cost accommodation. Boomers and millennials, the two largest demographic groups in the country, are converging in a time-of-life moment where what they want is smaller homes on smaller lots in walkable, compact, higher density, service-rich, transit-oriented communities. Nevertheless, both the automobile and home-builders sector are still trying to hook the young generation and return the older generation into the inefficient urban sprawl model of development. This is reminiscent Kodak pushing film as we entered the digital age.
Posted on: Sun, 23 Mar 2014 23:43:44 +0000
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