The Boomer Wars: Which Generation is Really Driving the Market?

The prevailing belief is that the multifamily industry is not yet prepared for the wave of demand that's set to hit the market. In looking at the demographic trends that are most impacting the industry, there are two forces at play. There are Millennials, or Echo Boomers, who will be entering the market in droves. However, this cohort has yet to mature and unless job and wage growth picks up, their strength as a consumer group won't surface for some time. There are also the Baby Boomers, who have much more disposable income than their younger counterparts and are expected to sell their homes and downsize to low-maintenance apartments. Yet with a cloudier homeownership climate and the retirement age being pushed back, just how many will be able to take advantage of the kind of lifestyle high-end apartments provide? Our group of experts will weigh the two groups to see which Boomers have the most bang, and what to expect for the multifamily market in the near to medium term.