Nathan Norris explores what planners need to know about the trends driving Generation Y's quest for urban living and America's evolving housing market.
We've been surrounded with buzz over the last week regarding the decline of the suburb and the ascendency of cities. Norris looks at the motivators driving Generation Y's "Great Migration" back to the cities in search of adventure, convenience, freedom and connectedness. As planners gear up to design for new market dynamics, Norris describes Generation Y's inspiration:
"While the answer is complex, it comes into focus when you contrast the childhood lifestyle of Generation Y with the childhood lifestyle of previous generations. Like those before them, Generation Y currently finds themselves attracted to things they did not have growing up. Four that stand out are: 1. Safety to Adventure; 2. Isolated to Connected; 3. Inconvenient to Convenient; 4. Car Dependent to Car Independent."
With a little help from Boomers, gas prices, and need for higher Return-on-Investment to governments, serious change agents are reshaping markets while supply scrambles to catch up.
Thanks to Hazel Borys
FULL STORY: Why Generation Y is Causing the Great Migration of the 21st Century
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