Monday, April 15, 2013

The changing tides of real estate

Interesting article on the changing tastes of real estate.  It predicts that baby boomers will sell off their homes for smaller sized residences.  But it also touches on the changing tastes of the younger demographics.

Many current households with children will want to move up to these houses, but demographics and preferences have changed — about a quarter of those who would be considered in their prime buying years now want something else, like condos or town houses. And that's a significant change, because that kind of preference (from that buying group) used to be nonexistent.

This of course poses interesting challenges for cities.  Can cities accommodate a flood of seniors looking for quality rental units?