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We have been writing about the impact 20-34 year-olds' have on the Puget Dound region's apartment investment market for the past few years. The last time we discussed this was during a speech to the Washington Multi-Family Housing Association on September 29th.
Then on September 30th, an article in The Wall Street Journal ranks Seattle the #1 "youth-magnet" city (in a tie with Washington DC). [Wall Street Journal article]
In the past seven years (2003-2009), this age group grew by 70,000 people in King, Pierce, and Snohomish counties. In the next seven years it is expected to grow by another 88,000 people.
Why does it matter? Most people in this age group rent.
The October issue of The Apartment Advisor will go into more detail on this and other trends that will impact apartment investors in the next few years. Some are good, some are bad. This is a good trend if investors recognize it and capitalize on it.
