The children of Baby Boomers are very practical, self-reliant, and independent. That is why this group – Generation X (those born between 1965 and 1980) – are choosing to live in apartment communities all over the U.S.
The independence and practicality of this group of 51 million Americans are fueled by the fact that many of them grew up as “latchkey kids”, or the parents of divorce. This has caused Gen Xers to learn to rely on themselves and make decisions for their lives – and those of their children – based on their own experience, not what someone tells them is best. Read the rest of this entry »
Millennials (20 to 35-year-olds) are heading to apartments in droves, not only for the value they offer but also because the apartment lifestyle matches their personalities. This massive group of approximately 77 million consumers is important in part because of its incredible buying power. The only demographic group closest in size is the Baby Boomer population.
Many of these children of Baby Boomers grew up in single-parent households and, as such, had more responsibility than any generation before them. This led to not only a greater sense of value, but also a greater sense of their own self-worth and independence. Some millennials are still in college or have just graduated. They are not interested in buying a home; instead, they are seeking apartments that offer them the convenience, value, and lifestyle they want. Read the rest of this entry »