With developers focused—even obsessed—with the often single, urban and transient millennial generation in the last decade, families were neglected as one of the largest and most critical rental segments.
That neglect may have come at a cost and will likely force developers to catch up with new demand for family-rental housing, according to a new report by RCLCO and the ULI Terwilliger Center for Housing called, Family Renter Housing: A Response to the Changing Growth Dynamics of the Next Decade.
With the dual trends of declining homeownership and rising housing costs, developers may now have the incentive they need to focus on families over the next decade, according to RCLCO senior managing director Adam Ducker, vice president Jack Ross and analyst Monica Corley, who wrote the report.
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Suzette Parmley
Trenton Correspondent who covers the N.J. Supreme Court, Governor, Legislature. She also contributes to The Legal Intelligencer and law.com. Suzette joined New Jersey Law Journal in Jan. 2019 from the Philadelphia Inquirer where she was a former Trenton Statehouse Correspondent and Business Reporter/Columnist. Awards: 1st Place for 2020 coverage of NJ Supreme Court; 2019 Specialized Writing Category, 5-time winner of the Business Financial Writing Portfolio Award from the New Jersey Press Association. Graduate of the Fels Center of Government/University of Pennsylvania. Email: [email protected] or follow on Twitter: @SuzParmley
