Let me preface this by saying that since I’m too young to be a boomer, and just a little too old to be part of Gen Y, I may perhaps have a bitter taste in my mouth since apparently I’m not really a part of either of these much chatted about demographic groups. That disclaimer aside, the SF Business Times has an interesting article today about Generation Y and their decision (although decision might be a generous word, since it doesn’t sound like they could buy a house even if they wanted to) to delay home purchasing.
Generation Y — people born between 1977 and 1989 — are a larger group populationwise than the Baby Boomers, but may have less economic impact thanks to a delay in buying real estate.
I attended a panel Wednesday evening sponsored by the Urban Land Institute titled, â€œWill they Ever Grow Up? Generation Y’s Uneasy Transition to Adulthood and Impacts on Residential Real Estate Markets.â€
The speakers included an impressive bunch: Nina Gruen, executive vice president and principal sociologist with Gruen Gruen + Associates, Tim Cornwell, engagement director for the Concord Group San Francisco office, Alan Mark, founder and president of the Mark Co., and Meg Spriggs, senior development director for Avalon Bay Communities.