Space Echo

Home buying preferences of large population groups have a lasting impact on the housing market. The impact of baby boomers to generation Y or echo - people born in the United Stats between 1981 and 1999, the housing market is undeniable. With the echo boomers are maturing and buying houses, their home buying preferences have become more important. This article is a brief summary of the purchase of a house on the preferences of people born between 1981 and 1999.

According to industry experts the recent meeting of the Urban Land Institute (ULI) annual fall meeting in Denver, Gen-Y buyers do not prefer a house in the suburbs as their parents baby boomers did. Echo Boomers do not want to be limited to major metros. Instead, Gen Y buyers are more likely to be attracted to fill places in urban areas. In addition, Gen Y buyers want to live in diverse cultural and ethnic neighborhoods.

According to Gadi Kaufmann, Managing Director and CEO of Robert Charles Lesser & Co., a Maryland firm that focuses on trends, real estate, the echo boomers increasingly attracted to more affordable second level and third level cities if they are well supplied with enough entertainment and recreational facilities.

The decades ahead are likely to attend more public housing high-rise in a growing number of small towns to meet the housing needs of the echo boomers. People born between 1981 and 1999 are more likely to be attracted to home designs that emphasize bright, open spaces with lots of windows and those that offer flexible use of rooms and spaces.

Wireless Internet access is essential for this "most connected generation". Since the echo boomers are a lot environmentally conscious, this generation prefers houses that have incorporated green building features. This could have a positive influence on the market green and is an indication of future trends that have significant growth potential for green housing.

Unlike baby boomers who have owned the house at a much earlier age, the property could possibly be delayed in people born between 1981 and 1999, as they put off until a later age to other commitments such as marriage and childbirth.