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Reviving Multifamily Housing Development: - page 8 / 28

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DEMOGRAPHIC TRENDS GEN Y AND BOOMERS INFLUENCE ON MULTIFAMILY DEVELOPMENT

¾ Gen Y will be the key demographic to focus on for multifamily over the next 10 years

  • Large number entering the rental market starting in

2009 and thereafter

  • Becoming first-time homebuyers in 2012 and thereafter

¾ Baby Boomers are larger in numbers than Gen Ys but reduced turnover with age diminishes demand; major force for upscale condo living

  • Have more options (in terms of product, location, and setting) than Gen Y; Multifamily is only one of their many options

  • Demonstrated interest in condo living – product has to have a marketing hook to heighten interest

March 23, 2010

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