With their wide-bottomed , hip-hugger jeans, colorful tie-dyed tops, platform shoes, longish hair and extreme sideburns, the current crop of teens and college students look a good bit like the Baby Boom generation from which they sprang. And, demographically and economically speaking, they are likely to have an impact on their surroundings similar to that of their parents.
Born between 1977 and 1994, the "Echo Boom" generation now accounts for 26 percent of the United States population. The leading edge of this very significant age group began to graduate from college just a couple of years ago and the rear guard won't finish college until 2017.
Among commercial real estate sectors, the first to feel their impact will likely be the apartment sector, as these newly minted young professionals start jobs and look to move out on their own. In this issue, our "Boom Times" feature focuses on this trend and how it may affect an apartment marketplace currently geared toward the much smaller Generation X group that immediately preceded them and the soon to be retiring Baby Boomers.
Other Features
In our feature on ecologically sensitive buildings, "It's Easy Being Green," we take a look at the advantages and costs associated with this burgeoning trend in construction and design. A large number of buildings are now being built that incorporate new technologies that help to decrease their ecological footprint, and one building, the Chesapeake Bay Foundation's new headquarters, incorporates virtually all of them.
"Worth the Price" examines the value that so-called "trophy properties" can add to a company's portfolio through stable income and increased prestige and notoriety.
Finally, in "Safe and Secure" we peruse the various aspects of building security that owners and operators from a variety of real estate sectors feel are vital to the smooth operation of their facilities and to the peace of mind of their tenants.
Christopher W. Murphy
Editor-in-Chief
