Several recent studies are showing that owning a house,
driving a car and saving the planet are not high priorities for Millennials; those
people born between the early 1980’s and 2,000. There are more of them than
Boomers by millions!
Housing: If you are a single family residential home builder
talking to a young person or couple about building a new home you may find your
message falling on deaf ears. Only 19% of Millennials, ages 18–34, have any
desire for home ownership. Most want to live in multi-family situations where
they can be around their peers. Connectivity is through their phone or tablet. They
will be buying homes but it will be condos and townhouses, not single family
homes on lots that need mowed or manicured. Home is where their cell phone is.
Driving: Millennials don’t need cars as much as the Gen X or
Boomers do. They are job hoppers that in a lot of cases means working from home
networking with other Millennials to complete projects. In just the last 8
years, applications for a driver’s license has dropped 24% for that age group
compared to others. Working from home, interacting with others on their phone
and taking public transportation is growing. Let’s hope that you don’t sell new
homes and used cars as it may start getting tough to make a living.
Green Living: Save the Planet! Fugetaboutit….Millennials are
not big on anything green or energy saving. Only a third as active in helping
the planet as their Gen X or Boomer brothers and sisters, these young people
are more active in concerns involving their own priorities through social media
than they are about saving whales, energy or trees. They assume that the newly
built condo they buy will be energy efficient. Pray that you don’t sell Green,
Energy Star new homes and used cars as your days are numbered.
Other trends for this age group are the decline in the use
of land lines.
Chicken with no bones. I know this sounds silly but they
were raised on McNuggets and don’t want to pick around bones. That’s why KFC
just introduced the “No Bones” chicken.
If your company doesn’t make an effort to market to these
young people on social media that they use every day, you might not get any of
the dwindling new home business they will provide. As they age, new single
family home construction, something they don’t need or want, will begin to
suffer.
2 comments:
Boy that's the truth. The modular industry missed the boat on these youngsters a long time ago. And they can't change! They are so wrapped up in being the next best thing & how fast can we move the line.
Perhaps they will retire these old lap dogs that still think like old men and allow smart younger minds to work for the next generation.
Innovation and modular building are rarely mentioned in the same breath... what a shame. Blu Homes appears to have what it takes: the possibility of innovative construction and design at least has attracted plenty of investment $.
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