ome buying preferences of
large demographic groups According to Gadi Kaufmann,
have a lasting influence on Managing Director and CEO of
the housing market. The impact of Robert Charles Lesser & Co., a
Generation Y or echo boomers - Maryland firm that focuses on
the people born in the United real estate trends, echo boomers
Stats between 1981 and 1999, on increasingly gravitate to more
the housing market is undeniable. affordable second tier and third
With the echo boomers now coming tier cities if they are
of age and buying homes, their well-provided with enough
home buying preferences have entertainment and recreational
assumed greater importance. This amenities.
article is a brief summary of the
home buying preferences of people The coming decades are likely to
born between 1981 and 1999. witness more high-rise housing in
an increasing number of small
According to industry experts in cities to accommodate the housing
the recently held Urban Land needs of the echo boomers. People
Institute (ULI) annual fall born between 1981 and 1999 are
meeting in Denver, Gen-Y more likely to be attracted
homebuyers do not prefer a home toward home designs that
in the suburbs like their baby emphasize bright, open spaces,
boomer parents did. Echo boomers with plenty of windows and those
do not want to limit themselves that offer flexible use of rooms
to major metros. Instead, Gen Y and spaces.
buyers are more likely to be
drawn to urban infill locations. Wireless Internet access is
Moreover, Gen Y homebuyers want indispensable for this "most
to live in culturally and connected generation”. Since the
ethnically diverse neighborhoods. echo boomers are an
environmentally conscious lot, Unlike baby boomers who were home
this generation prefers homes owners at a much earlier age,
that have incorporated green home ownership could be possibly
building features. This could delayed among people born between
have a positive influence on the 1981 and 1999, just as they are
green home market and is putting off until a later age
indicative of future trends that other commitments such as
have considerable growth marriage and childbirth.
potential for green housing.
About the Author:
San Diego Condos
Scripps Ranch Real Estate
Tierrasanta Homes
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