Friday, July 9, 2010

For Gen Y, Tiny Is the New Small

Condo and apartment developers in cities nationwide are thinking small in an effort to keep prices low and satisfy Gen Y buyers who are more concerned about location than they are about spacious accommodations.

The more expensive a city, the smaller the new developments. In San Francisco, there are a number of complexes where units range from 250 to 350 square feet. In Vancouver, British Columbia, there is a “micro-loft” building where apartments are 270 square feet.

“For Gen Y, the home is a place to live out of, not to live in,” says John McIlwain, a senior fellow for housing at The Urban Land Institute in Washington D.C. “They don’t think of this as a sacrifice. It’s just their lifestyle.”

Source:, Jane Hodges

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