Generation gaps are as old as time. Demographers like William Strauss, Neil Howe and David Foot brought demographics mainstream with labels such as Generation X and Boomers. Living through different economic conditions and social influences, each generation has evolved to have different expectations and attitudes than their parents before them and homebuilders are taking a note of this.
Not unsurprisingly, what baby boomers want from a house is not the same as what millennials want from their homes (when they begin to buy them). For example, those born in the 1950’s want family-friendly homes, whereas those born in the 80’s are more likely to rent and live urban. Based on trends in Florida, realestateconsulting.com breaks down the different points that builders are focusing on by decade.
See how Lesley Deutch from John Burns Real Estate Consulting defines each generation and how builders are catering to them.
Read the original article here.
