There has been much talk surrounding Millenials and Living Green. The “Millennials” or “Generation Y” (those born between the early 1980’s – the early 2000’s) and their lifestyle choices including home buying habits – such as renting vs. owning, single family homes, condos, and rental apartments in particular markets (for example, Chicago, NYC, San Francisco or other major cities). Urbanization – the changing trend from suburban home ownership to rental apartment living in cities. Brian Sullivan from CNBC, publicly used and may have in fact popularized the term, “Locationonomics” – where people are moving. The move from suburban to urban locations and in terms of areas of future growth and the business (retailers) that will follow. The notion of Access, Access, Access (as opposed to Location, Location, Location).
Discuss what you believe to be the relationship between urbanization and sustainability and the effects it is having on real estate from the suburbs to the cities. Identify and explain at least (1) primary effect and (1) secondary effect.
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