January 23, 2015

CITIES WERE A MISTAKE:

Generation Y Prefers Suburban Home Over City Condo (KRIS HUDSON, Jan. 21, 2015, WSJ)

 The [National Association of Home Builders] survey, based on responses from 1,506 people born since 1977, found that most want to live in single-family homes outside of the urban center, even if they now reside in the city.

"While you are more likely to attract this generation than other generations to buy a condo or a house downtown, that is a relative term," said Rose Quint, the association's assistant vice president of survey research. "The majority of them will still want to buy the house out there in the suburbs."

The survey, which was released at the association's convention in Las Vegas, found that 66% want to live in the suburbs, 24% want to live in rural areas and 10% want to live in a city center. One of the main reasons people want to relocate from the city center, she said, is that they "want to live in more space than they have now." The survey showed 81% want three or more bedrooms in their home.

Posted by at January 23, 2015 3:57 PM
  

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