Generation Y Will Raise Rents

Generation Y Will Raise Rents

Posted on 04. Nov, 2011 by in News

According to a report compiled by Urban Land Institute, Generation Y will alter the housing market while creating a multi-generational household trend. The report, “What’s Next? Real Estate in the New Economy,” finds that the group will be relatively comfortable living in smaller homes, preferring an overall better lifestyle that may include an easier commute to work. Generation Y’s will no longer prefer a larger space to reside. The demand for rentals will also increase, causing the price of rents to rise. Researchers expect people to continue to share housing, leading to some multi-generational households in order to save money. It’s no surprise that the preferences of the largest generation in American history will have an impact in driving market trends in the near future.

Source: http://www.marketwatch.com/story/gen-y-will-drive-rents-higher-seek-smaller-homes-2011-10-28

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