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Sat July 26, 2008

Busy Generation Y looking for efficient, open homes

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Carrie Vanderford, 27, an economic development project analyst for the city of Kansas City, Mo., displays her dream home, a prefabricated modular home made of green materials. The 20-something generation has definite views on where to live and how to live. McClatchy-Tribune
Who is Generation Y?
Those born between 1978 and 1994. They're also called Millennials, the Internet Generation, Echo Boomers, Nexters and the Digital Generation. Generation Y follows Generation X, a term coined by fiction writer Douglas Coupland to describe those born after boomers, roughly 1965 to 1978.

On the horizon?
Demountable wall panels might be a future feature in Gen-Y homes. The panels, which allow walls to be broken down and moved, work like office cubicles with metal-grid foundations. They allow you to easily change wall material (fabric, glass, etc.) and rewire as technology evolves.

The residential system by DIRTT (Doing It Right This Time) of Calgary, Alberta, shown at the International Contemporary Furniture Fair in Chicago, can be purchased through architects and interior designers. One panel, used in a kitchen, allows users to easily rearrange modular cabinetry.

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By Stacy Downs
McClatchy Newspapers
Generation Y is growing up fast.

The average age of a first-time home buyer is 26, three years younger than for Gen X or baby-boomer buyers. So what's up with that?


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Sure, favorable rates and terms make buying a house easier for young people these days, but the trend may be most affected by the characteristics of this generation:

They are tech-savvy. Generation Y can't remember life without a computer.

This means they are consumers who research everything, including buying houses.

They are confident. Parents told them they were special, challenging their children's teachers on poor grades and negotiating with their coaches for more playing time.

Stores like Baby Gap, channels like Nickelodeon and numerous magazines and catalogs have catered to them their whole lives.

So Gen Y'ers don't doubt themselves or their decisions, including buying a house.

They don't believe in paying their dues at work. They want respect at the office now and if they don't get it, they'll move on. Similarly, they don't wait to buy homes.

To find out more about their housing preferences, we spoke to three Gen Y'ers. Each is a housing expert. None has yet turned 30.

•Generation Y'ers grew up with soccer games, tennis practice, swimming lessons, French class. They've carried that overscheduling tendency into adulthood. How has that affected the type of home they want?

•Carrie Vanderford: "Growing up, I did dance lessons, cake decorating, French horn, drama, soccer, softball, T-ball, gymnastics, piano. I'm still busy like that, so I'm not a homebody. That said, I want a place that's simple and free of clutter and that has a connectedness through technology.”

•Stephen Colin: "Because of my busy schedule, I'm not willing to do a long commute. I want to be close to work, close to friends and close to local services.”

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