An interesting article written by Kris Hudson discussing the living preferences of millennials (Generation Y).
Some economists have argued that the millennials’ will continue to prefer city living, offsetting the inconvenience of small living quarters for the proximity to downtown work and entertainment. However, a recent survey by the National Association of Home Builders found otherwise. This survey of 1506 people born since 1977 indicated that 66% of the group would prefer to live in more spacious single-family homes outside of the urban center. In the US, this generation includes an estimated 70-80 million people; and, if the survey proves representative, this group would have a significant impact on future demand for the suburban single family home. This raises the questions of future building preferences – single-family home or condominiums?
Read full article here: https://www.wsj.com/articles/millennials-prefer-single-family-homes-in-the-suburbs-1421896797
