Writing for Retail Traffic Magazine, David Lynn claims that a renewed urbanization movement in the United States will drive retailers and investors to change their strategies to fit a more urban market.
Lynn writes, "changing demographics and shifting land use patterns will significantly influence development of retail investment strategies going forward."
The "changing demographics" Lynn refers to specifically addresses the Baby-Boomer population - of which 25% will be senior citizens within the next decade. According to Lynn, "many Baby-Boomers exhibit empty nest syndrome when their Generation Y children leave home. In real estate, this typically is thought to entail leaving behind their large suburban home for smaller, more manageable living quarters in vibrant, entertainment-driven environments."
This demographic swing, along with rising transportation costs and a general preference for mixed-use communities, is driving the renewed urbanization of the USA, according to Lynn.
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