High Debt at Graduation

From the pages of the St. Louis Today; Many in the next generation of workers will be so debt-burdened they will have to delay home purchases, limit vacations, even eat out less to pay loans off on time. Kristin Cole, 30, who graduated from Michigan State University’s law school and lives in Grand Rapids, Mich., … Continue reading “High Debt at Graduation”

Numbers
From the pages of the St. Louis Today;

Many in the next generation of workers will be so debt-burdened they
will have to delay home purchases, limit vacations, even eat out less
to pay loans off on time.

Kristin Cole, 30, who graduated from Michigan State University’s law
school and lives in Grand Rapids, Mich., owes $150,000 in private and
government-backed student loans. Her monthly payment of $660, which
consumes a quarter of her take-home pay, is scheduled to jump to $800
in a year or so, confronting her with stark financial choices.

Anyone who knows me, knows I am not a pessimist by nature but this may be a trend that will drive the age at which our coveted demographic chooses to lease an apartment home.


How to stop working and live a life of inspiration…

"Choose a job you love and you will never have to work another day in your life." -Confucius

Attitude
"Choose a job you love and you will never have to work another day in your life." -Confucius


Why did you lease?

We should be asking new residents why they leased in lieu of asking  prospects why they didn’t lease. We could quickly identify our  strengths and then market those heavily.

Question_mark
We should be asking new residents why they leased in lieu of asking 
prospects why they didn’t lease. We could quickly identify our 
strengths and then market those heavily.


Building Meaning on your Blog

Our world has quickly morphed into a quest for meaning or has it always been that way? Maybe we are just now taking hold of the philosophy and giving it the press it deserves. That being said Seth, in his truly infinite wisdom guides us on the authentic creation of meaning when crafting a blog. … Continue reading “Building Meaning on your Blog”

Our world has quickly morphed into a quest for meaning or has it always been that way? Maybe we are just now taking hold of the philosophy and giving it the press it deserves.

That being said Seth, in his truly infinite wisdom guides us on the authentic creation of meaning when crafting a blog.

For those of you that have thought about starting a blog for your property or about the industry in general or for those who have taken the plunge these principles will be very helpful.

Have an amazing Friday!!! M


Echo Boomers and the propensity to rent…but from whom?

I pulled the following excerpt from an AP story over at [Yahoo] "The so-called Echo Boomer generation, which is loosely defined as the children of Baby Boomers, will help drive business for Equity Residential and the apartment market as a whole, Neithercut said. He said the population, estimated at 80 million, will have a high … Continue reading “Echo Boomers and the propensity to rent…but from whom?”

Gen_y
I pulled the following excerpt from an AP story over at [Yahoo]

"The so-called Echo Boomer generation, which is loosely defined as the
children of Baby Boomers, will help drive business for Equity
Residential and the apartment market as a whole, Neithercut said. He
said the population, estimated at 80 million, will have a high
propensity to rent and will be attracted to the company’s core markets."

That is, in part, David Neithercut’s, sentiment on the multi-family market and more specifically the core markets that EQR manages property in. Mr. Neithercut is the CEO and President of Equity Residential Properties based in Chicago, IL.

I’ve read the estimates that the EB crowd numbers in the 75 to 80 million range, I have also read that 57% or greater are staying home and or going back to live with Mom and Dad after college graduation. [Read Here] And, note that affordability not only seems to be a driver for more renters in lieu of buyers  but it is also a driver for doubling or tripling up and or staying home a few more years. The Echo Boomer’s are ambitious and driven not to mention more responsible than most think. If they can live at home with little to no overhead and pay down college loans and otherwise get their financial affairs in order then they will do it.

I’m not so sure I share the same optimism as Mr. Neithercut although I consider Equity Residential to be the absolute best PM firm in America.