Boomers Will Drive MF Demand: Yardi
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The report shows a “compelling” need for more supply, Adler says.
SANTA BARBARA, CA—The Baby Boom generation will lead the way in apartment demand growth, followed by Millennials, says a new research report from Yardi Matrix. The report also notes that demand for rental housing seems likely to increase strongly “for another decade or more.”
Prepared by Paul Fiorilla, associate director of research at Yardi Matrix, the report says Boomers have been “underrated” in the discussion around multifamily demand, which has tended to focus on Millennials. Yet the 50-plus age cohort is projected to grow twice as fast over the next 15 years as the number of Americans ages 25 to 49, and Boomers have been renting in increasing numbers as they approach retirement age…
