Emerging ‘era of less’ in real estate markets

Next generation wants cities

Jay Blazek Crossley, Nov 22, 10.

The coming generation of home buyers are going to want to live in dense, walkable cities and are not expected to buy up the drivable suburban homes that the Baby Boomer generation may soon be trying to sell as they seek to trade the empty nest for better access to culture and community, according to the Bryan Ellis Real Estate Letter, which summarizes the findings from ULI’s 2011 Emerging Trends in Real Estate report.

Last year’s report focused on real estate players concentrating on planning for future growth while weathering the economic downturn, while this year’s report emphasizes investors engaging in a “flight to quality” to build homes in the coolest cities. Houston and Dallas were included in the top ten markets to watch, with ULI saying that “Houston is expected to come out stronger from the recession than most states, creating more real estate demand.”