Urban Pull of Downtown San Diego

Here come the Millennials!

The pressures of urbanization will also affect how we live, bringing, no doubt, a change in housing structures, acceptable house sizes, and necessary amenities. Leigh Gallagher’s book, “The End of the Suburbs,” details a migration back to the city.  The younger generation is flocking to buy now that rents are soaring.  I have been shocked by the number of buyers who want little to no yards, think granite is "going out" and fireplaces are "dated".  They want walkability and garages and move in ready properties.  Staging is a key.  The buyers want quality not quantity. Even if you're not ready to move here--rent it.
Already, the popularity of micro-homes, sharing, and close-to-the-action location choices are scratching an environmental and anti-consumerism itch. So who’s going to want those big Boomer homes? Dowell Myers, a demographer and urban planner at the University of Southern California told Reuters that of those “who do move, many will downsize—and it’s a big demographic group.” Myers added, that “an age-driven wave of sellers could put significant downward pressure on home prices, especially in suburban markets far from city centers that are less attractive to younger buyers.” At the very least, a horde of Baby Boomers itchy to sell will keep housing markets across the country from simmering once again.
I'm so excited about the changes that are happening and how they affect Downtown San Diego.  The disparity between the haves and have nots is ever widening but what will make the difference is Millennials (a person reaching young adulthood around the year 2000) and immigrants. Did you know that over 60 percent of immigrants own homes?  I have heard the term, Delayed Adulthood.  This is causing the younger generation to shy away from the larger family homes of the suburbs and rush into the planned unit developments that offer walkability and low maintenance.  Attention retirees!  If you want the lowest prices and best selection especially in downtown San Diego, now is the time to invest.  Take a look at the towering rentals that are being built.  Those investors know that downtown San Diego housing is in high demand.  To search what is available for sale or lease in all of San Diego go to my website at:  www.MarshaShepard.com