No McMansions for Millenials -- Gen Y Says NO!

Source: Wall Street Journal
By S. Mitra Kalita and Robbie Whelan, Jan 14, 2011

Here's what Generation Y doesn't want: formal living rooms, soaker bathtubs, dependence on a car.
In other words, they don't want their parents' homes.

Much of this week's National Association of Home Builders conference has dwelled on the housing needs of an aging baby boomer population. But their children actually represent an even larger demographic. An estimated 80 million people comprise the category known as "Gen Y," youth born roughly between 1980 and the early 2000s. The boomers, meanwhile, boast 76 million.

"One-third are willing to pay for the ability to walk," Ms. Duggal said. "They don't want to be in a cookie-cutter type of development. ...The suburbs will need to evolve to be attractive to Gen Y."

Outdoor space is important-but please, just a place to put the grill and have some friends over. Lawn-mowing not desired. Amenities such as fitness centers, game rooms and party rooms are important ("Is the room big enough to host a baby shower?" a millennial might think). "Outdoor fire pits," suggested Tony Weremeichik of Canin Associates, an architecture firm in Orlando. "Consider designing outdoor spaces as if they were living rooms."

Smaller rooms and fewer cavernous hallways to get everywhere, a bigger shower stall and skip the tub, he said. Oh, but don't forget space in front of the television for the Wii, and space to eat meals while glued to the tube, because dinner parties and families gathered around the table are so last-Gen. And maybe a little nook in the laundry room for Rover's bed?

In his presentation, KTGY Group residential designer David Senden showed slide after slide of dwellings that looked like a cross between a hotel lobby and the set of "Melrose Place."

He christened the subset of the generation delaying marriage and family as "dawdlers."

"A house in the suburbs is not for them," Mr. Senden said. "At least not yet."

Places to congregate are more important than a big apartment, he cautioned. He showed one layout of a studio apartment-350 square feet, as big as Mom and Dad's Great Room. Common space has migrated to "club rooms," he said, where Gen-Y residents can host meals and hang out before heading to a common movie-screening room or rooftop swimming pool that they share with the building's other tenants.

The Great Recession and its effects on young people's wages will affect how much home they can buy or rent for years to come.

"Not too many college grads can afford a lot of space in the city," he said. "Think lots of amenities with little tiny units-and a lot of them to keep (fees) down. ...The things these places are doing is constantly coordinating activities. The residents get to know each other and it makes for a much livelier and friendlier environment."

Walkability

Are you a slave to driving the kids everywhere and worry that they aren't safe either walking or riding bikes from your home to school or sport activities? Would you prefer to live where you can walk to church, the grocery or the local Coffee spot? While some clearly adore living behind secure gates in an exclusive enclave, increasingly "Walkability" is becoming a factor that savvy Real Estate Buyers are considering.

Source: The following is excerpted from www.walkscore.com Go to this website and put in your address to see how "walkable" your residence is!!!

What makes a neighborhood walkable?

A center: Walkable neighborhoods have a discernable center, whether it's a shopping district, a main street, or a public space.

Density: The neighborhood is compact enough for local businesses to flourish and for public transportation to run frequently.

Mixed income, mixed use: Housing is provided for everyone who works in the neighborhood: young and old, singles and families, rich and poor. Businesses and residences are located near each other.

Parks and public space: There are plenty of public places to gather and play.
Pedestrian-centric design: Buildings are placed close to the street to cater to foot traffic, with parking lots relegated to the back.

Nearby schools and workplaces: Schools and workplaces are close enough that most residents can walk from their homes.