Interesting study on Gen Y housing preferences (Coraopolis: renting, houses)

[BrianTH]

Here is the link:

No McMansions for Millennials - Developments - WSJ

The bottomline: large percentages of them want housing in walkable/urban settings, they don't like cookie-cutter developments, and they don't need huge places with large yards. But they want (and in many cases need) for it to be cheap. This is a problem because many central cities are expensive, so the prediction is that suburbs will have to adapt.

Which makes sense, but I might also have a city in mind that could suit them . . .

[Copanut]

My guess is that they want NEW smaller houses, not older ones, of which the Pgh area has a ton. The next 20 years in this country should be fun.

[DaBurgh]

More room out in the countryside for the rest of us

[ctoocheck]

Originally Posted by Copanut

My guess is that they want NEW smaller houses, not older ones, of which the Pgh area has a ton. The next 20 years in this country should be fun.

I recon it would depend. Some of the youngfolk on here (ahem...RestonRunner and AllgeghenyAngel) obviously prefer older ones. I might myself as well; they just don't make em like they used to (at lower budgets). I think I'd prefer a refurbed/expanded old rowhouse over a new one in any case.

[Caladium]

Originally Posted by Copanut

My guess is that they want NEW smaller houses, not older ones, of which the Pgh area has a ton. The next 20 years in this country should be fun.

To be honest, I think you're correct (even though I think it's great to see so many young people choosing to restore the older ones). What I think we'll probably see is a reverse of today's trend of tearing down small houses to build larger homes. Soon enough people will start tearing down McMansions to build smaller homes, just like my parent's generation tore down the huge Victorians to build cozy little ranch houses. Then, the next generation will tear down the small houses and build big again. Everything cycles.

[Pitt Chick]

Originally Posted by BrianTH

The bottomline: large percentages of them want housing in walkable/urban settings, they don't like cookie-cutter developments, and they don't need huge places with large yards. But they want (and in many cases need) for it to be cheap.

Pretty much why my 24 year old son bought a older house in Coraopolis last spring...
plus, he liked the original woodwork and view of the river.

[Copanut]

Bottom line with me is LOW OVERHEAD. And in the Pgh area you can own/rent very cheaply. I had some great deals renting when single. Best ever was a 1 Br in Mt. Lebo for 220/month, heat included. Granted, this was in the late 80's, but was a steal. I left there after buying a duplex and sometimes I still regret it.

As to McMansions, a lot of people make money off of them. Builders, Realtors, lawn care, security systems, window washers, furniture companies. They do a lot to keep the economy going.

[h_curtis]

I hope that is true. It would give me much more hope for our future to know the next generation won't be nearly as wasteful and hopefully more streamlined than mine. Maybe they won't drive huge SUV's and trucks nearly as much? One can only hope. Hurray for them.

[ctoocheck]

Originally Posted by Copanut

As to McMansions, a lot of people make money off of them. Builders, Realtors, lawn care, security systems, window washers, furniture companies. They do a lot to keep the economy going.

If these professions were not in as high demand due to fewer McMansions, wouldn't the workload theoretically just be shifted somewhere else? Perhaps more urban living would increase demand in other areas?

[RedBall]

Originally Posted by h_curtis

I hope that is true. It would give me much more hope for our future to know the next generation won't be nearly as wasteful and hopefully more streamlined than mine. Maybe they won't drive huge SUV's and trucks nearly as much? One can only hope. Hurray for them.