There is a lot of talk about the coming demographic wave of the millennials, and rightly so. They make up approximately 27% of our national population, which is the same size as the baby boomer population that changed the face of housing, business and transportation. This means that the millennial generation will have as large of an impact on the housing market, transportation, taxation, environment and economy as the baby boomers.
However, it is critical for investors, builders and home buyers not to forget about the other generations as they build their strategies. For instance, each generation is demanding completely different attributes to a home (whether they're buying or renting) and when you can create a property that matches your target market, you will gain higher prices, shorter sell/rent times and lower turn-over.
Don R. Campbell began his investing career in 1985 with a house purchased in Mission, BC. He is Founding Partner and Senior Analyst at The Real Estate Investment Network and currently owns nearly 200 doors in BC and Alberta. A seven-time best-selling author, Don’s expertise and passion for teaching Canadians how to create wealth through real estate are far-reaching and have made an impact on the lives of thousands. You can follow his daily thoughts on Twitter –www.twitter.com/DonRCampbell and on Facebook at www.facebook.com/thereinman.