Posts tagged ‘household’

Market Movers

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>>

Source: HousingFinance.com

Happiness Is a Full House

Picture of a multi-generational familyWritten by Lynn Schnurnberger (Parade.com) 05/02/2010

It Takes a Village

Multigenerational living is on the rise. A recent AARP study found that 6.6 million U.S. households had at least three generations of family members in 2009—a whopping 30% increase since the 2000 census. More than a third of Coldwell Banker real-estate agents recently reported an uptick in buyers looking for homes to accommodate multiple generations, and 70% expect to see even greater demand in the year ahead.

The trend is fueled in part by the economy, with “baby boomerang” kids returning to the nest after college, along with 30- and 40-somethings who have lost their jobs or homes or both. But Andrew Cherlin, a professor of sociology and public policy at Johns Hopkins University, sees an upside. “Parents and grandparents are like the National Guard—they’re called up to active duty when there’s a crisis,” he says. “But while families may be moving in together to save money, they’re discovering the advantages of shared child- and elder-care and an enriched family life.”

(more…)

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