GENERATION "Y" INFORMATION YOU NEED TO KNOW

About Generation Y.........

Let me just say for starters that I have never liked this tendency
to lump broad swaths of the population together and then pretend
that there is some coherent whole. Based on my experience of
dealing with them for 59 years, I'd say that the baby boomers are
a fairly diverse bunch. Shared experiences are nothing more than
that - shared experiences.

So.....I read with interest this:

"I’m proud to be part of Gen Y which will change the face of
America. Born between 1979 and 2000, there are over 80
million members of Gen Y which represents nearly 25% of
the U.S. population. ULI recently published an article
discussing what developers are doing to cater to the
characteristics of my generation."

"Based on a survey of 1,241 18-34-year-olds, here’s a list of
Gen Y traits and how real estate developers are meeting this
changing demand.

-Tech savvy, yet financially challenged due to the economy
and heavy debt load from student loans

-We will change careers (not just jobs) multiple times
throughout our life – we need to go where the jobs are,
making renting more desirable

-We’re driven by proximity to work, walkability of a
neighborhood and price – developers need to find a way to
make housing interesting, yet affordable. Developers are
making units smaller, with flexible interior components and
open floor plans

-We’re comfortable with mass transit and want to live
amongst the action

-We prefer a studio apartment to a roommate situation
(I differ on this one)

-We have high expectations for interior finishes – hardwood,
stainless steel appliances, granite counter tops etc.

-We’re very social, so we demand housing in vibrant, active
urban neighborhoods with amenities that enhance the social
experience – developers are putting in active rooftops
where residents can congregate

-We’re animal lovers – developers are putting in pet
amenities like dog washes and parks

-We value non-profit organizations and causes. Marketing
companies are using causes to generate foot traffic at a
property

-We’ll likely buy homes when we enter our 30s -the need to
connect with others will influence our purchase decisions
and we’ll continue to demand urban, walkable communities
near transit.

This was stolen from Steve Layman's blog. Click here to read more of what Steve has to say.