Changing Housing Requirements

There was an article in the Wall Street Journal this last week talking about a new kind of housing development targeted at young singles. They are generally condos in urban environments with small living spaces and a larger than usual amount of common space. The common space features ammenities and activities designed to attract the residents to mingle.

Apparently some of these developments have been discovered by baby boomers and have become quite a draw for that demographic as well. The article's focus is on the clash between the two generations in these buildings. I think that's less interesting than the clearly underserved need for this kind of housing for baby boomers.

Again and again I'm hearing the desire to downsize. I hear it from baby boomers, from Gen Xers. It's amazing the consistency with which I'm hearing this message. But I think a lot of what they would like to downsize to doesn't exist. That's particularly true with the baby boomers with empty nests. They want smaller, one-level living within walking distance of public transportation and basic shopping. They want a community feeling, but not necessarily the pre-planned, gated, far-from-everything communities we typically see.

To bring this down to a local level, where would you find that kind of housing in this area? I'm really not seeing it.

The Gen-Xers often have young famlies and yet would still prefer smaller spaces. But they don't want to sacrifice luxury or convenience to have it. They want a well-built, nicely-appointed small house. Again, community is important to them. And they don't want to spend huge chunks of their lives commuting!

These are of course, generalizations. There are and always will be individuals and families with much different idea of their ideal house. Some will continue to look for the McMansions. Some will want the huge gated communities far out in the suburbs.

But I think there's an underserved need here and the article in the WSJ just reinforced what I'd already come to believe.

Any of you seeing (or feeling) the same things?