SAN FRANCISCO: Echo Boomers Driving Multifamily Decisions
Echo Boomers, made up of 80 million people ages 18 to 31, are a generation to watch, according to Guggenheim Real Estate co-founder Scott Muldavin. (They certainly like to watch themselves.) His daughters, ages 23 and 26, value mass transit and are willing to trade size for an urban location. About 25 years ago, he did a project with 250 SF units near San Francisco's theater district but never got the money for it. Now that's the norm; a micro-housing pilot in New York calls for 55 units ranging from 270 SF to 350 SF. Google realizes boomers want to live in the city (even if their jobs are in Silicon Valley) and will bus downtown dwellers to and from work, he says.