1. Talkin’ ’bout My Generation: C HANGING D EMOGRAPHICS AND E CONOMIC I MPACTS

2. The American Dream Z IMMERMAN /V OLK A SSOCIATES, I NC.

3. The American Family Z IMMERMAN /V OLK A SSOCIATES, I NC.

4. The American detached house 62% of US dwellings 72% of Michigan dwellings Z IMMERMAN /V OLK A SSOCIATES, I NC.

5. America (and the American dream) has changed. Z IMMERMAN /V OLK A SSOCIATES, I NC.

6. Married couples with children – now 22% of American households. 20% in Michigan.

7. Traditional(one-worker) family – less than 10 percent of all U.S. households. Z IMMERMAN /V OLK A SSOCIATES, I NC.

8. Zimmerman/Volk Associates, Inc. 21st Century Non-Traditional Family

9. Emergence of the “grandfamily” 3 million grandparents are raising their grandchildren. Z IMMERMAN /V OLK A SSOCIATES, I NC.

10. The immigrant effect: 12.9% foreign-born 6% in Michigan

11. The 21 st Century housing market has been dominated by The 21 st Century housing market has been dominated by the two largest generations in American history. Z IMMERMAN /V OLK A SSOCIATES, I NC.

12. The Baby Boom 77 Million 1946-1964 Z IMMERMAN /V OLK A SSOCIATES, I NC.

13. A Pig in a Python Entered Kindergarten: 1951-1969 Elementary schools Entered High School: 1960-1978 High schools Entered College: 1964-1982 Dormitories Entered Job Market: 1964-1986 Apartments Entered Job Market: 1964-1986 Apartments Married with Children: 1970-2000 Detached Houses Married with Children: 1970-2000 Detached Houses Empty nesting: 1991-2024 Apts./Condos/TH/Detached Retirement/2nd Careers: 2008-2034 Apartments/Condos; CCRCs, etc. Death: 2026-2054 Mortuaries, crematoria, cemeteries Birth Years:1946-1964 Ages Today:49-67 Z IMMERMAN /V OLK A SSOCIATES, I NC.

14. Mostly couples The “Me Generation” Heading for retirement Settled at last More likely to be owners Politically and spiritually diverse The new “old” The Baby Boom

15. What they like.

16. And not so much...

17. Boomers joined by the Boomers joined by the largest generation in American history. Z IMMERMAN /V OLK A SSOCIATES, I NC.

18. TheMillennials 78 Million 1977-1996 Z IMMERMAN /V OLK A SSOCIATES, I NC.

19. An Even Bigger Pig in the Python Birth Years:1977-1996 Ages Today:17-36 Entered Kindergarten: 1982-2001 Elementary schools Enter High School: 1991-2010 High schools Enter College: 1995-2014 Dormitories Enter Job Market: 1997-2021 Apartments/condos Enter Job Market: 1997-2021 Apartments/condos Married with Children??: 2003-2036 Detached Houses?? Married with Children??: 2003-2036 Detached Houses?? Empty nesting: 2024-2060 Apts./Condos/TH/Detached Retirement: 2047-2066 Apartments/Condos; CCRCs, etc. Death: 2057-2086 Mortuaries, crematoria, cemeteries Z IMMERMAN /V OLK A SSOCIATES, I NC.

20. Age at First Marriage 198024.722.0 1960 Men 22.8 Women 20.3 201228.626.6

21. Mostly single. Highly social. Early/unsettled careers. Huge college debt. Very mobile. Most likely to be renters. Ethnically and culturally diverse. Green. The Millennials

22. What they’re into.

23. And not so much...

24. Two Generations Converge 2004-2024 Boomers Move Down/Move Back Millennials Move Out/Move In Both Seek Community Z IMMERMAN /V OLK A SSOCIATES, I NC.

25. The Great Convergence: 2004 to 2024 Basic demographic support for walkable neighborhoods Z IMMERMAN /V OLK A SSOCIATES, I NC.

26. Growing market preference for compact, pedestrian-oriented, mixed-use neighborhoods 55% in 2004 56% in 2011 60% in 2013 Z IMMERMAN /V OLK A SSOCIATES, I NC. —National Assn. of Realtors

27. Michigan’s Divergence Michigan’s Divergence HouseholdsMIUS HouseholdsMIUSEmpty-Nesters/ Retirees53%46% Families29%30% Younger Singles/Couples18%24% Z IMMERMAN /V OLK A SSOCIATES, I NC.

28. The two largest generations The two largest generations are mostly one- and two-person households. Z IMMERMAN /V OLK A SSOCIATES, I NC.

29. 59% of all 59% of all U.S. households contain just one or two persons— Z IMMERMAN /V OLK A SSOCIATES, I NC. 62% in Michigan.

30. Nationally, Nationally, nearly two-thirds of all homebuyers are singles or couples. Z IMMERMAN /V OLK A SSOCIATES, I NC.

31. Zimmerman/Volk Associates, Inc. 8 - 9 percent of home purchases made by single men.

32. Zimmerman/Volk Associates, Inc. 22 - 24 percent of home purchases 22 - 24 percent of home purchases made by single women.

33. Zimmerman/Volk Associates, Inc. 30 - 32 percent of home purchases 30 - 32 percent of home purchases made by couples.

34. 35 - 37 percent of home purchases 35 - 37 percent of home purchases made by traditional and non-traditional families Z IMMERMAN /V OLK A SSOCIATES, I NC.

35. Housing stock for families in a market of singles and couples? Z IMMERMAN /V OLK A SSOCIATES, I NC.

36. Targeting the 21 st Century Market Housing and unit type variety.Housing and unit type variety. Z IMMERMAN /V OLK A SSOCIATES, I NC.

37. The Loft Z IMMERMAN /V OLK A SSOCIATES, I NC.

38. Hard Lofts Z IMMERMAN /V OLK A SSOCIATES, I NC.

39. Soft Lofts Z IMMERMAN /V OLK A SSOCIATES, I NC.

40. Mezzanine Lofts Z IMMERMAN /V OLK A SSOCIATES, I NC.

42. Housing and unit type variety. Housing and unit type variety. Historic preservation. Historic preservation. Targeting the 21 st Century Market Z IMMERMAN /V OLK A SSOCIATES, I NC.

44. Housing and unit type variety. Housing and unit type variety. Historic preservation. Historic preservation. Walkable, mixed-use neighborhoods. Walkable, mixed-use neighborhoods. Targeting the 21 st Century Market Z IMMERMAN /V OLK A SSOCIATES, I NC.

45. People like to walk to work. Z IMMERMAN /V OLK A SSOCIATES, I NC.

46. … or not.

47. People like to walk to parks. Z IMMERMAN /V OLK A SSOCIATES, I NC.

48. Zimmerman/Volk Associates, Inc. People like to walk to restaurants.

49. Zimmerman/Volk Associates, Inc. People like to walk to entertainment.

50. People like cool places to hang out. Z IMMERMAN /V OLK A SSOCIATES, I NC.

51. And cool places to live. Z IMMERMAN /V OLK A SSOCIATES, I NC.

52. Housing and unit type variety. Housing and unit type variety. Historic preservation. Historic preservation. Walkable, mixed-use neighborhoods. Walkable, mixed-use neighborhoods. Sustainability. Sustainability. Targeting the 21 st Century Market Z IMMERMAN /V OLK A SSOCIATES, I NC.

55. Housing and unit type variety. Housing and unit type variety. Historic preservation. Historic preservation. Walkable, mixed-use neighborhoods. Walkable, mixed-use neighborhoods. Sustainability. Sustainability. Social and economic diversity. Social and economic diversity. Targeting the 21 st Century Market Z IMMERMAN /V OLK A SSOCIATES, I NC.

57. The Great Convergence: 2004 to 2024 Z IMMERMAN /V OLK A SSOCIATES, I NC.

58. Targeting the 21 st Century Market Create a sense of place. Z IMMERMAN /V OLK A SSOCIATES, I NC.

59. “What attracts people most, it would appear, is other people.” —William H. Whyte Z IMMERMAN /V OLK A SSOCIATES, I NC.