The Other Side of the Coin
If we had a nickel for every article written about the Baby Boomer generation, we would most likely be living in the Caribbean sipping umbrella drinks and thinking about an afternoon nap. The ubiquitous Boomers have influenced modern America like no other generation and continue to do so as they move into retirement. As we have noted before, Baby Boomers will have a significant impact on apartment investing as they are now moving into a stage of life when they are more likely to become renters and remain that way for the rest of their lives.
But for apartment investors looking to capitalize on demographic trends, the Baby Boomers are only half the story.
Is there an Echo in here?
There is a second generation of Americans not as frequently mentioned but just as impactful on the future of housing in America, specifically in the apartment sector. The mainstream media might not be talking about them as much as their older counterparts (yet), but apartment investors should pay heed to this new generation. They are called Echo Boomers and they are just now entering the housing market. Industry experts predict that 15 million Echo Boomers will enter the prime “renter age” of 18-34 this decade.
The Echo Boomers are coming and they are going to be staying for a while.