Below are some trends that may have the biggest impact on housing in 2011.
1. There are 81 million Echo Boomers who were born from 1981 to 1999, compared to just 78 million Baby Boomers born from 1946 to 1964. These children and grandchildren of Boomers will drive home-building for years.
2. By 2015, demographers say, more than two out of every five households occupied by Generation Y people born between 1981 and 1999 will be women with incomes and no kids.
3. The Sandwich Generation - Baby Boomers living with both their kids and their parents. These families like having two master suites, a second cooking area, and lots of storage.
4. Big builders are wringing the extras out of construction costs and dropping the national average cost-to-build 36 percent to $52 per square foot.
5. Baby Boomers want to keep working and continue to live where they have always lived. They want a first-floor master bedroom near the washer and dryer and lots of convenient storage.
5. Sheds are the next evolution. As homes get smaller, a separate shed will become a popular home addition.
All The Best,
Herb
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