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| February 10, 2012 |
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 Boomers, Kids, Minorities Drive Real Estate
by Broderick Perkins
More than ever, demographics are driving the types of homes and other dwellings developers are erecting. Baby Boomers, Echo Boomers (Baby Boomers' kids) and ethnic minority populations are prompting developers to raise the roof on the kinds of housing and shopping centers the special populations want, according to a major media outlet. "The commercial real estate community has always weighed the importance of demographics in any development undertaking, but it is clear that the industry has only begun to realize the opportunities reflected in the 2000 Census numbers," said Matt Valley, editor-in-chief of PRIMEDIA's National Real Estate Investor, a commercial real estate trend publication. PRIMEDIA, a traditional and new media conglomerate, publishes other special interest magazines including American Demographics, Seventeen, American Baby and New York among some 250 others. The Investor's "How Demographics Shape Development" by Amanda May highlights several examples illustrating the building trend. May writes, while Baby Boomers tend to stay in their homes as they age rather than move to multifamily properties, a small percentage of people who do sell their large primary residences will have a great impact on multifamily housing because of the generation's sheer size. May's story says many Echo Boomers, aged 6 to 23, will soon be first time renters and represent huge demand to the specialty mixed-use multifamily housing industry which often includes hip ground floor retailers in building design. May reports expect to see greater focus on Hispanic needs as that population swells to a nearly 20 percent share of the nation's population by 2030. "Going forward, I think you're going to see more development, particularly retail and multifamily housing, catering to these three demographic groups. Keep in mind historically, that commercial real estate products are a response to broader demographic trends. As changes occur in the makeup of the population, commercial real estate will respond accordingly," Valley said. Published: October 9, 2002 Use of this article without permission is a violation of federal copyright laws. 
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A journalist for 35-years, Broderick Perkins parlayed an old-school daily newspaper career into a digital news service offering editorial content and consulting services. Perkins' San Jose, CA-based DeadlineNews Group includes the flagship news site,