The "Gen Z Effect" on retail and work space
For brick and mortar stores to succeed, they will need to transform to meet the needs of the “gadgeteria” ethos of this generation with omni-channel, social media worthy shopping experiences. Workplace design will also be affected. Where millennials were all about collaborative, open workspaces, gen Z appears to want more structure, suggesting a return to offices (with doors) and more personal office space.
A housing shortage
With millennials and Gen Z numbering 150+ million and the baby boomers remaining in their homes longer, the younger generations are meeting a housing shortage, an opportunity for homebuilders willing to scale product to their preferences—smaller and more energy-efficient homes, townhouses, condos, and “affordable” starter homes.
Multifamily remains a strong investment
With a need for more affordable rental units for the millennials and gen Z, multifamily housing prospects remain strong, especially in secondary markets like Pittsburgh, Salt Lake City and Fort Lauderdale.
Senior housing momentum growing
A demand for more senior housing tops the list of all residential segments as present inventory does not meet the needs of this group that is projected to grow by 25 million in the next 15 years.