Could some of the most in-demand housing markets be cooling off?
Urban Living Is Popular Among All Ages, Millennial to Baby Boomer
Urban centers are attracting multiple generations by offering diverse lifestyle options and amenities
Photo Credit: George Milquilena, Flickr Creative Commons
Maybe Baby Boomers can’t quite understand the appeal of some aspects of today’s youth, like electronic music or the constant need to be connected at every moment of the day. And maybe Millennials can’t quite seem to wrap their heads around reading an actual print newspaper or leaving the house without their phones (gasp!). But Millennials and Baby Boomers can at least agree on one thing: urban living.
Urban living is growing in popularity and much of what is appealing about the lifestyle it offers are characteristics and aspects that multiple generations find attractive. Cities are packed with culture, activities, and entertainment options, all of which are very diverse, meaning there is something for everyone, young or old, reports Construction Dive.
Many Baby Boomers find they enjoy the low maintenance of an apartment or condominium and can splurge a bit on luxury items if they made some money on the sale of their homes. Meanwhile, Millennials are the talent pool, so cities are making sure they have what it takes to attract members of this group in order to improve the outlook for local companies.