Millennial's are driving a plethora of trends in the modern markets. Social media, and other easily accessible technologies reflect most of this. Lifestyle and quality of life are common considerations upon the determination of relocation. Millennial's are starting families, establishing careers, and relocating. If we analyze millennial interest, there are a few recurring trends:
- Healthier Lifestyles
- Walkability and Public Transit
- More Amenity Availability
As reported by ULI, The U.S. Census Bureau documented more than 2.6 million Americans relocating from the city to the Suburbs in the last 2 years. The research and data has renewed investor interest, as well as motivation. As an investor you may ask yourself, what would be good here_ however, I believe the better question would be what do the people want here?
Elizabeth Kneebone’s published article “Suburban Poverty is Missing Conversation About America’s Future” in September of 2016 stated,
“As of 2014, 46.7 million people in the United States lived below the federal poverty line (then $24,230 for a family of four) — a number essentially unchanged from poverty’s recession-era peak. Poverty is affecting millions more people — 9 million more than before the recession began and 15 million more compared with 2000 — and its reach has spread rapidly beyond its historic urban and rural homes. The poor population in America’s suburbs climbed by 65 percent between 2000 and 2014, more than twice the pace of growth in core cities. Amid that rapid increase, suburbs became home to the nation’s largest poor population for the first time, outstripping the urban poor population by more than 3 million.”
You can find that link here:
Hence, we have the newly Qualified Opportunity Zoning; but how does this new zoning truly help? This new zoning accounts for underdeveloped areas in need of growth, expansion, and further development in relation to the other better developed areas. Meaning, as an investor, you have the opportunity to not only benefit from these; but also, allow other individuals and collective communities to benefit from these, as well. Don’t miss out on the chance to make a difference in the development of your city/state, job creation, affordable housing, and improved community establishments are needed.
Check out our Qualified Opportunity Zone Properties at Hodgescommercialrealestate.com