Millenials and Baby Boomers are setting the way our homes are designed and built. Millennial have encouraged builders to decrease their carbon footprints, use more green materials, and promote energy saving. Unable to set tech down, these devices have been integrated into the kitchen and bath, and their love of customization has increased the options available at design centers so homes are built exactly as desired. As they enter careers in architecture and design, Millennials use new design software and innovation to create city centric homes that are economical and cleverly built for ultimate functionality - no space wasted! Lost is the classic neighborhood and in place of it is the rise of master-planned communities - everything from the homes to the play areas and retail spaces is planned together for the ultimate convenience to residents.
As Boomers age, they are looking for harmonious spaces to entertain comfortably. Formality is out and with it, formal living and dining areas. Open spaces are in, with the center of the home changing from living rooms to kitchens. When they reach retirement age, America will have the largest retirement group it has seen (only to be toppled by Millennials down the road) and housing developments will adjust with the demand. Over the last decade, new home construction has been the demand versus maintaining existing structures. Within the next decade this structure is slated to flip as Boomers need to add accessibility to their spaces with DIY flair.
The missing link? Gen Xers. Incredibly adaptable, Gen Xers had just entered the housing market during the last economic collapse, then had to find smaller spaces. Now in their prime working and earning years, these are the buyers currently supporting the age old concept of the American Dream, a concept that may be fading as they work toward the classic dream home of their childhoods. They are the most likely generation to still consider the white picket fence, 2.5 children, and family dog as the pinnacle of life, and likely the last.