Millennials Supporting Apartment Demand Growth
By
Tony Seruga
A new Fannie Mae commentary points to Millennials, rather than Baby Boomers, as the driving force behind recent multifamily demand growth.
Patrick Simmons, Economic & Strategic Research, Fannie Mae (Photo credit: Fannie Mae)
The real driver of U.S. apartment demand in the years after the recession was Millennials, according to Patrick Simmons, who specializes in economic and strategic research at Fannie Mae. Not, as he pointed out, Baby Boomers. Simmons came to that conclusion after a detailed review of 2009 and 2014 American Community Survey data, and reported his findings recently in a
Fannie Mae commentary called, “Housing Myths, Debunked: Millennials, Not Baby Boomers, Are the Driving Force Behind the Recent Surge in Apartment Demand.”…
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