How the emergence of Generation Y, the aging of baby boomers, and immigration trends will impact the multifamily industry in the next decade.
NUMBERS MAY NOT LIE, BUT SOMETIMES they can make a liar out of conventional wisdom.
Throughout the recession, demographics have served as a beacon of hope to apartment owners. “Things may be bad now,” went the refrain, “but just wait until Generation Y comes along.”
Turns out, we didn’t have to wait long. The demographic trends that will shape the next decade arrived this year, with absorption rates so strong they turned conventional wisdom on its ear. A hefty 77,000 apartment units were absorbed in the first half of 2010, the strongest demand in a decade. But where did all of those renters come from? continue reading>>