The Real Signal # 152 - Strong Case for Multi-Gen Workforce Housing
Plus: BLS Employment Downward Adjustments, Electricity Rates Increasing And Financial Distress Meets Days On Market In The South
Strong Case for Multi-Gen Workforce Housing
”Over the past decade, a noticeable shift has occurred in the generational breakdown of multigenerational home buyers. Gen-X buyers, often referred to as “the sandwich generation” in the housing market, have increased their share of this market from 12% in 2013 to 21% today.
Older millennial buyers appear to be following suit with a steady increase in multigenerational home buying, growing from 9% in 2018 (the first recorded year of “older millennial” buyers) to 12% today.
Unlike the steady increase seen in older millennials and Gen X, the percentage of younger boomers buying multigenerational homes has decreased from 22% in 2013 to 15% currently.”
Scott Choppin Note: Strong case for multi-gen workforce housing like our Urban Town House 5-bedroom 4-bathroom housing model.
BLS Employment Downward Adjustments
“Over 900,000 jobs they claimed the economy added, were…..revised data shows just how corrupt the previous head of the Bureau of Labor Statistics was.“
Electricity Rates Increasing
Total growth rate of 35.7% over a 6 year period. YOY rate 5.95%.
Scott Choppin Note: Rate growth at or above inflation. What has not had its full impact yet, is electricity rates increasing due to AI Data Center electricity demand. I read a recent article that described most AI growth may be outside the national electrical grid, as that grid is not sufficiently robust to supply AI needs over the long run. Examples were given of data centers co-locating to nuclear power plants, utilizing electricity direct and not through the grid. Either way, buckle up.
Financial Distress Meets Days On Market In The South
Do You Know a Land Owner, Business Owner, or Developer That is Stuck on Their Development Project?
We Can Help Them Succeed
We have expanded our team for our project management and development services offer, to help us serve more clients in the future.
Our project services clients include:
non-developers
new developers
folks who have gotten stuck in their development and planning process.
Some of our recent work includes helping the San Pedro Fish Market with their Phase 2 project at the LA Harbor in San Pedro, including design management and entitlements. We are also the real estate advisor on their redevelopment of a brand new location on the historic Fisherman's Wharf in Monterey, and we completed a project for them at the former Joe's Crab Shack in Long Beach at Alamitos Bay (see flyer below)
We are working on numerous housing deals as an advisor as well.
Send me an email if we can be of help on your project: choppin@urbanpacific.com
