David Brauer It's true people leave cities, especially downtowns, when they start families. However, the writer ignores the OTHER major group flocking to downtowns - empty nesters. The 50-60-year-olds are a MAJOR driving force behind Downtown Minneapolis growth, and at least half come from the suburbs, according to research I've seen.
Also, here's a little tidbit from local research firm DSU: nine of the 10 fastest-growing demographic groups in America are people without kids. So kidlessness is a growth industry. Jeanne Massey: It's about a twenty year growth industry as baby boomers pass through the empty nester age cohort - kidless AND (relatively) wealthy as baby boomers will be in their peak earning years. It's phenomenal to watch the condo industry trying to capture this booming market. Once it declines, we might be seeing these units converted to assisted living to capture the aging baby boomer market. According to state forecasts, the fastest population growth will be among people aged 50 to 64 through 2010. By 2015, this age group begins to decline rapidly as the retirement of the baby-boom generation gets underway. The baby-boom population will begin turning 75 in the 2020s and 85 in the 2030s, rapidly increasing the demand for housing (combined health care) geared towards the very old. By the 2020s, baby boomleters (kids of baby boomers) will be having kids and likely buying homes in big numbers (though not as big as in their parents' generation), filling in some (but not likely all) those homes built for their parents' generation. Between now and then, the state projects continued in-migration of families of child-bearing age (primarily within the United States, not from abroad), which may take up some of the surplus homes. But the growth corridor in the Twin Cities is the very outskirts (4th and 5th ring burbs) of the metro area, not filling in the suburbs that grew up during the baby boomer housing buying era of the 80s and 90s. I haven't done the market research to know the forecast of what's going to happen to all the suburban housing of the Twin Cities as baby boomers age out of the homes they raised their children in. I'm assuming foreign-born immigrant populations will become increasingly suburban as they increase their wealth and buy homes, but excepting Latinos, the growth in this market has more or less stalled since 911. Does anyone of the List have insight into the future suburban housing trend? Jeanne Massey Kingfield REMINDERS: 1. Be civil! Please read the NEW RULES at http://www.e-democracy.org/rules. If you think a member is in violation, contact the list manager at [EMAIL PROTECTED] before continuing it on the list. 2. Don't feed the troll! Ignore obvious flame-bait. For state and national discussions see: http://e-democracy.org/discuss.html For external forums, see: http://e-democracy.org/mninteract ________________________________ Minneapolis Issues Forum - A Civil City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[email protected] Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls
