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Real Estate


Tom Kelly
Tom Kelly
The Real Estate Adviser
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June 23, 2005

The Real Estate Adviser: Bigger than Boomers: Here comes Gen-Yers

By TOM KELLY
Special to the Journal

If you think the baby boomer group was immense and steered the housing market plus every element of the retail industry, get ready for their consumer-crazy children, the proud members of Generation Y.

Who’s who
Generation Y, or “Millennials”: Born 1979 or later
Generation X, or “Echo Boomers” or “Nexers”: Born between 1978 and 1965
Baby Boomers: Born between 1964 and 1946
Seniors: Born before 1946

Source: NAHB

These youngsters, born in 1979 or later, will have 74 million members (an estimated three million more than the boomers) and make up 34 percent of the population by 2015. Their homes will be preferred for their utility, not prestige and they will be willing to trade size and curb appeal for lifestyle and convenience.


 
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