31 Dec Millennials and Baby Boomers Both Find City Appealing
Everyone’s making a fuss about the young, hip, Gen Y that wants technology and convenience. Are we missing out on another vital trend? Although Millennials and Boomers have a list of differences, these two groups have one major thing in common: they are moving to cities. And the large migration of these two largest generations is driving other changes.
Millennials tend to support causes and businesses that hold meaning for them. Many of these businesses provide some sort of social good. Connectivity is also something else that Millennials value. They like to share and crave experiences more than possessions. Believe it or not, they desire connections in real life, not just online 🙂
Boomers are driven by practicality and find is little reason for them to hang on to their large, expensive, suburban homes once their children leave. The aging of the Boomer population has also placed an increased premium on acquiring health and wellness products and services.
What does this mean for cities?
The end result is a demand for sustainable communities that are walkable, energy efficient, and integrated. Mass transit and urban farming and local food movements are increasing in popularity, as they satisfy the eco-conscious Millennials and the health-conscious Boomers.
Cities will be forced to adopt more flexible land use policies as increasing numbers of residents demand convenient access to the products and services that they require. The same holds for public infrastructure as large backyards are no longer as important as public parks for green space access.
Millennials and Boomers together account for almost half of the American population and the combination of their needs and wants is set to drive many markets for the foreseeable future.
How is your city planning for this huge demographic trend shift?