What do Millennials, the laidback digital natives dubbed “Generation Me” by social scientists, have in common with the driven, disciplined Baby Boomers who spawned them? Quite a bit when it comes to lifestyles. As Boomers downsize and Millennials finally enter the real estate market, both generations are gravitating towards the same type of housing: multifamily homes in vibrant urban areas.
Ironically, Boomers are opting out of large, high-maintenance homes at the same time their budget-conscious Millennial children are finally buying first residences. Both generations want smaller dwellings in culturally rich cities and suburbs, with restaurants, shopping, services, entertainment and public transportation nearby, notes realtor.com. Multifamily condos fill the bill for both groups.