Baby boomers are having a significant effect on reshaping the Florida and Georgia Multi-Family housing market and economy. As baby boomers age and downsize, they move into apartments, condominiums and assisted living facilities, this has caused an enormous shift in the multi-family housing demand.
“The long-term outlook is especially positive for multi-family construction, reflecting the aging of the baby boomers and an associated shift in demand from single family to multi-family housing. By the end of the decade, multi-family construction is likely to peak at a level nearly tow-thirds higher than its highest annual level during the 1990’s and 2000’s,” according to a recent article in ‘Economic Review’ written by Jordan Rappaport, senior economist at the Federal Reserve Bank in Kansas City.
“More generally,” Mr. Rappaport wrote, “the projected shift from single family to multi-family will likely to have large, long-lasting effects on the U.S. economy. It will put downward pressure on single family relative to multi-family house prices. It will shift consumer demand away from good and services that complement large indoor space and a backyard toward goods and services more oriented toward living in an apartment. Similarly, the possible shift toward city living may dampen demand for automobiles, highways and gasoline but increase demand for restaurants, city parks, and high quality public transit. Housing, firms and governments that correctly anticipate these changes are likely to especially benefit.”
SWET Construction Group is an industry leader in the construction and renovation of multi-family housing, apartments, condominiums and commercial building throughout the Southeastern United States, offering cost-effective plans, fast and attractive flooring, interior design services, drywall, metal framing, paint and waterproofing. Contact SWET Construction Group for your next project.
We highly recommend that you contact us to discuss your building project. Our professionals will show you, examples and discuss options. We are able to work within your budget and will suggest cost saving options for your project. We specialize in multi-family designs, both interior and exterior projects.