Skip to comments.No McMansions for Millennials
Posted on 01/17/2011 9:21:45 AM PST by Gena Bukin
Here's what Generation Y doesn't want: formal living rooms, soaker bathtubs, dependence on a car.
In other words, they don't want their parents' homes.
Much of this week's National Association of Home Builders conference has dwelled on the housing needs of an aging baby boomer population. But their children actually represent an even larger demographic. An estimated 80 million people comprise the category known as "Gen Y," youth born roughly between 1980 and the early 2000s. The boomers, meanwhile, boast 76 million.
Gen Y housing preferences are the subject of at least two panels at this week's convention. A key finding: They want to walk everywhere. Surveys show that 13% carpool to work, while 7% walk, said Melina Duggal, a principal with Orlando-based real estate adviser RCLCO. A whopping 88% want to be in an urban setting, but since cities themselves can be so expensive, places with shopping, dining and transit such as Bethesda and Arlington in the Washington suburbs will do just fine.
"One-third are willing to pay for the ability to walk," Ms. Duggal said. "They don't want to be in a cookie-cutter type of development. ...The suburbs will need to evolve to be attractive to Gen Y."
Outdoor space is important-but please, just a place to put the grill and have some friends over. Lawn-mowing not desired.
(Excerpt) Read more at realestate.yahoo.com ...
Temporary until they have kids and want to send them outside to jump on the trampoline to get some quiet.
Yes. No mention of school quality/availability. Idiot real estate article.
That’s what I thought too. These young people are between age 20 and 30. Many haven’t yet had children or married or settled down. Give them a few years, and when children come along, they will want a suburban environment to raise their kids.
Anecdotal evidence for years has been that people move out of the cities when they have kids. Of those who remain in the city after having babies, many will move by the time the kids start school.
So I figure Generation Y will probably follow the same trends. As they have kids and get married, big numbers will want the traditional house with a backyard, similar to what they themselves grew up with.
Yes, the basements are enough.
when they breed, they will want good schools that you simply can’t get in the city center. As they age, they will want a little more space and a little less nightclub
When my wife and I were younger, I worked for the government (we are both retired now), and we moved quite a bit. We used to say, we didn’t buy houses, we bought school. That was our first criterion (we have 3 children, now grown, etc.). Later, my wife was a real estate broker for several years; I will have to show her this article and see what she thinks about it.
When Generation Y starts to age and gets the inevitable aches and pains, they’re not going to be so keen about walking everywhere.
“Temporary until they have kids and want to send them outside to jump on the trampoline to get some quiet.”
When you’re 25, what you want in a home is dramatically different than when children arrive. Heck - even “urban areas” don’t seem so fun anymore. Forget about “walking” everywhere when it’s raining, 100+ degrees, or snowing and you’re towing 100 lbs of stupid baby stuff. :)
‘Tis hard to pack in all the groceries.
They’ll figure it out.
Oh yes, these people want to be living in the middle of the feral urban yutes...good luck with that.
Well, maybe this is a rejection of the Rat Race, or perhaps it’s just an example of reduced expectations, which, unfortunately, can be a self-fulfilling prophecy...but I definitely can see that younger people have a different set of values, and that’s not ALL bad.
no HOA period.
This is nothing but environmentalist propaganda. And if it is true, it's because they brainwashed the little buggers in government-propaganda schools.
I agree this is developers pushing the BS of people wanting to live in overpriced rabbit hutches.
It’s not that they are “self-denying” for the right reason,
they are “self-denying” because of their pagan, earth worshipping worldview,
whose only real intent, on their part, is to feel good about themselves as morally superior to others (conservatives/Christians) who “don’t care” about the erf.
I have said for years that the REALLY big houses (3500+sf) will become very much less desirable...cost of heating, lighting, maintenance will be part of the problem,....However...I do NOT believe Gen Y will not want a car....ha....skiing? hiking? travel? this is some loons idiot interpretation of the narcissitic child’s mind...they will grow up. PS I have 7 Gen Y’s in my family...WHEELS are VERY important.
Many suburban areas where a family of modest means can afford to live have almost as many feral yutes as the inner city, i.e. Prince George’s County, MD and Clayton County, GA. The same goes for parts of the outlying Houston metro, where I live.
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