Using insights from ULI Spring Meeting’s housing panel, The Philadelphia Inquirer‘s Al Heavens describes how firms aim to design housing that appeal to a wide array of buyers. From Millennials looking to buy for the first time to Baby Boomers who are looking to downsize, its clear that housing aspirations are evolving.
While among the millennials, there are strong concerns that buying a house is a risky investment because of the drop in prices, “the appeal of home buying for them has nothing to do with financial considerations,” said Kermit Baker, AIA’s chief economist and ULI Spring panel member said.
“Millennials are as strong as future or current home buyers as past generations,” Baker said.
Yet in designing homes, there is a need for flexibility to make it financially possible for millennials to afford ownership, said Linda Mamet, vice president of corporate marketing at TriPointe Group of Irvine, Calif.
One solution is the “responsive home,” built in Henderson, Nev., as a collaboration between TRI Pointe Group’s Pardee Homes and Hanley Wood’s Builder magazine (read Builder’s article at http://goo.gl/ulyQjp).
Read more about how housing design is changing to accommodate new living situations and amenities at Philly.com