Gen X buyers have different priorities
MarketWatch has a nice description of prevailing trends among Generation X buyers and insight into the perspectives of the emerging Generation Y market.
Many [Gen Xers are] forgoing master suites and separate wings for kids and adults and instead seeking smaller footprints with space designed for family usage rather than individual usage, Chung said.
The market has yet to catch up with their particular demands, he said. “What we’re seeing is a fundamental mismatch between what these buyers are wanting and what the market is offering. They’re settling for what’s available vs. finding what they really want.”
Other predictions/trends include more compact living quarters in urban areas “where they can interact with their neighbors” and more “solo dwellers”.
Here in the city of Atlanta, we’ve enjoyed a nice spike in our intown population thanks in no small part to these emerging buyer preferences and the foresight of a handful of prescient developers. And even in the face of a market downturn, at least one of our significant urban infill developers remains bullish about prospects for the city’s near-term growth.