New Condo Towers Pit 'Boomers' Versus 'Echo-Boomers'

"Developers across the country are appealing to young buyers -- many of them single, almost all without children -- with buildings that promise not just an affordable first home but also a great social life. The amenities tell the story: videogame lounges and outdoor fire pits, rooftop soaking tubs, on-site bars and poolside drinks."

"But it's not so easy to control demographics in the open market. Some of the buildings are drawing unexpected buyers: people old enough to be the parents of the kids down the hall. And that's leading to territorial conflicts, social snubs -- even planned boardroom coups."

"The new developments are a throwback to the sort of singles-oriented complexes that were popular in the '60s and '70s. But unlike those rental projects, the latest iterations are geared to young people hankering to buy, not rent. Condo developers see opportunity in the demographics. According to a study by the National Association of Home Builders, 'echo boomers' -- those born after 1978 -- are twice as likely as people ages 46 to 64 to be house-hunting in the next two years. At the same time, as Americans marry and have children later, the purchases of first-time home-buyers are more likely to be townhouses and downtown condos, not suburban ranches."

"Regardless of who's signing the contract, many of the condos targeting singles are selling."

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