The Changing Face of the Multifamily Housing Industry

If you're a Millennial, you probably think this blog is about you.It's not. IfMillennials are self-focused it's got to be partly our fault.We keep talking about them!So, to do my part, I'm taking a break.This is not about you, Millennials.

Baby Boomers--yes, your grandparents--are poised to produce some major changes in the industry according to Multifamily Executive writer, Lindsay Machak.Amenity must-haves include adaptable space for their changing needs and more manageable space without losing luxury.But community is key to this demographic.Boomers want to be able to walk to grocery stores, restaurants, and gyms and they want to be near their friends.This is where the multifamily industry has an advantage.These responsible, stable residents are much more likely to renew if they have personal connections with others in their community.

At CARES, our research has shown a link between the number of friends a resident has on his or her property and the likelihood of renewal.This seems particularly true for Baby Boomers.So don't forget this important group of residents when planning events or considering amenities.It's not all about Millennials.

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