WSJ.Com 1/14 - No McMansions for Millenials
Guess what? Babyboomers aren't the only market out there! According to this Wall Street Journal article, Gen Y (Millennials - 1980-2000) represent an even larger market than boomers (80 vs 76 million), and they're just coming into their own.
But apparently they don't want those suburban big lawns and big homes. They want amenities and conveniences. They like walking, and are willing to pay for it. They want to be able to "congregate"; common areas and shared facilities are important.
They seem to be urbanites, but without the budget for big-city living. The recession is going to keep budgets smaller than what might have been expected. Small places - with lots of inexpensive amenities.
Green Builders - does this sound like an opportunity? Urban villages? Small homes, walkability, limited landscaping, higher density? Do these sound like green points?? Capturing Millennials may be easier than you might think, given these criteria.
Creative infill and imaginative development may be your ticket with this demographic!