Is love between us consumer and their single-family homes coming to an end? For consumers who are younger, this seems to be the case. And for Sam Zell, real estate celebrity and chief executive officer of the Chicago equity investment group, this means one thing: young consumers are smart enough.
“There was a time during the housing boom when people come out of College, find a job and then buy a condo the next day,” says Zell. ‘ I remember thinking, ‘ what do these young people who do the tying themselves down? ‘ That changes now. Young people who realize that they don’t have to get on track. “
Zell made the comments during his fireside chats with Debra Cafaro, chief executive officer of Chicago-based senior housing and healthcare REIT Ventas Inc, for 10 Commercial Real Estate forecast annual Conference on 24 January.
During the show in Chicago, Illinois Real Estate Journal and Real Estate Publishing Group, Zell and interesting crowd Cafaro over 1,000 attendees to kick-off discussion of them.
The power of multi housing plays a role in this chat. The fact that Zell is pronounced as a multi business segments of the strongest commercial real estate is not surprising. But his thoughts on the future of the single family houses and home ownership.