To begin this post I wanted to introduce popular trends in current lifestyles which lead me to create this blog. I recently read a few articles concerning Millennial culture which lays the foundation for the challenges associated with a variety of gardening and farming types. According to Zillow, the average new home has gotten 24 percent larger and the lot has gotten 10 percent smaller over the past 15 years. More specifically, new single-family homes currently offer approximately two feet of yard space for every one foot of finished indoor space. Construction data informs us that Americans prefer large homes with ample sized bedrooms and bathrooms near job centers; however, accessibility to these types of homes comes with a tradeoff. Zillow Chief Economist Svenja Gudell suggests that this trend in housing is a compromise between what builders can profitably build and what consumers will actually purchase.
Lee, Jordyn “New Homes are Getting Bigger, and Lots are Getting Smaller.” Zillow Porchlight. Zillow Group, 1 Oct 2015. https://www.zillow.com/blog/bigger-homes-smaller-lots-184558/. 3 July 2017.
A study conducted by Trulia found that older millennials ages 26-34, minorities, especially Hispanics, men, and the wealthy in housing markets along the seaboards were disproportionately shifting from homeownership to renting. Much of the decline in homeownership was attributed to the disruption of the housing market in 2008 and the rate of inflation between 2006 and 2014. During this period the amount of renters in the 50 largest metropolitan areas within the U.S. increased 5 percentage points. Additionally, in the top 50 markets average rent paid increased 22.3 percent while the average income nationally decreased 5.8 percent. In total, 71.6 percent of young adults ages 18-34 were renting as opposed to purchasing homes in 2014.
In conclusion, the statistics referenced above clearly illustrate that the landscape Millennials will experience could be much different than that of prior generations. This landscape will challenge younger generations to evolve from the antiquated cities of the past and introduce nature to a metropolitan setting. Efficiency will be a top priority in the future and clean cities will require effort from every resident. Innovation is key! Please get involved in your community, I will be posting interesting and innovative techniques to assist in the generation of new applications and new ideas.
Thank you and I appreciate your interest in my page.
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Uh, Mark “From Own To Rent, Who Lost The American Dream?.” Trulia. Trulia, Inc., 11 Feb 2016. https://www.trulia.com/blog/trends/own-to-rent/. 3 July 2017.
Lee, Jordyn “New Homes are Getting Bigger, and Lots are Getting Smaller.” Zillow Porchlight. Zillow Group, 1 Oct 2015. https://www.zillow.com/blog/bigger-homes-smaller-lots-184558/. 3 July 2017.