Millennials have had an incredible impact on the real estatemarket this cycle. The massive demographic group, which has come ofage during the Great Recession, has triggered the rise of creativeoffice design, mixed-use development, experiential retail andonline shopping. They have touched every asset class in a new wayand driven growth across them all. Still, there is more to come.The latest segment of the millennial generation is now graduatingcollege and entering the workforce, but this younger group has amuch different experience and perspective than its millennialpredecessors.
“The younger millennials really grew up in a different era,”Matthew Mejia, senior manager atRSM, tells GlobeSt.com. “They are entering theworkforce post recession and when the conflict in the Middle Eastappears to be dying down. As a result, they have a differentperspective on life. I think a lot of the millennials that livedthrough the recession remember 9-11, and they grew up during themajor conflict in the Middle East. This new group coming out ofcollege has a lot of the same attributes in terms of technology andthe virtual world but with the benefit of living in apost-recession environment.”
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