Wednesday, April 15, 2009

Generation Y: Bullish on U.S. Housing Market

First major national housing survey during current downturn reveals surprising results

NEWPORT BEACH, CA--(BUSINESS WIRE)--The first major survey into Generation Y’s perception of the U.S. housing crisis reveals a surprisingly strong sense of optimism about the future despite cautious near-term sentiment.

While the housing industry is readying for this wave of future homeowners (approximately 80 million strong), there is little data on what this influential buying group actually wants in their next home or how the current downturn has affected their future plans.

According to the national survey conducted by The Concord Group:

·50% say they are likely to purchase a home within the next three years
·50% say tax credits or lower interest rates would motivate them to purchase a residence sooner
·70% believe home prices will be higher or at today’s levels in two years
·62% say wealth creation is a very big advantage of real estate ownership

Although economic conditions factor strongly in their decision-making process, survey respondents say that lower home prices and/or a raise at work would be the top motivations for buying a home sooner than planned.

"Generation Y is going to have more impact on the national housing market than any group since the early Baby Boomers.

"We wanted to better understand their preferences and expectations especially as they will have such an impact on our future,” said Emma Tyaransen, (top right photo) Principal of The Concord Group, a national real estate advisory firm.

The majority of respondents to The Concord Group’s survey say they are:

·Willing to pay a premium to live closer to their job
·Seeking out a larger space for their next residence
·Interested in living near alternative modes of transportation
·Likely to put down less than 20% on their next residential purchase
·Planning to eventually abandon the cities for a life in the suburbs

“What’s so interesting about this data is that it supports our prediction that transit-oriented development will command a premium in the near future. It also proves that suburban development will continue to play an important role in the housing market that emerges from the downturn,” said Tyaransen.

The Concord Group is a premier national real estate advisory firm with offices in Newport Beach, CA; San Francisco, CA; Portland, OR and Boston, MA. The Concord Group provides developers, investors and public planning agencies with vital analytical input throughout all phases of real estate financing, development and operations.

To receive the complete survey and for interview requests, please contact:
Ellis Strategies, Inc.Matt Ellis, 617-278-6560,

Nature's Table Renews 6-Year Lease at One Orlando Centre

ORLANDO, FL--Cushman & Wakefield of Florida, Inc. (C&W) announced a new six year lease for the One Orlando Centre (top right photo) location of Nature’s Table restaurant.

Retail Brokerage Associate Mindy Boehm (bottom left photo) negotiated the lease, representing the tenant in the transaction, and C&W office team Richard Solik and Betsy Owens represented the landlord, Eola Capital.

Nature’s Table representative Krista Lehn said the location is scheduled for complete renovation including a brand-new interior design, all-new fixtures and new furniture.

The overhaul will necessitate the closure of the restaurant beginning the last week of April and continuing through July.

During the renovation, temporary food service will be available on the first level of One Orlando Centre.

In addition to updating their space, Nature’s Table will also strengthen the consistency of menu offerings, renewing their commitment to the core selections of gourmet wraps, salads, homemade soups, smoothies and bakery items.

C&W negotiates lease for Pro-Neon and Art Design relocation

The Orlando office of Cushman & Wakefield (C&W) announced that Allison Reynolds, Associate of Industrial Brokerage Services closed a deal in March for the relocation of commercial signage fabricator Pro-Neon and Art Design from 1586 North Goldenrod to 1696 and 1700 North Goldenrod. Reynolds represented the landlord, Selwo Investment Group in the transaction.

Contact: Brook Hines, 407-541-4401,