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March 13, 2012 at 08:43 AM
While not as large a demographic as their baby boomer parents, echo boomers are proving to be a powerful customer base, according to a new IBISWorld research report. It finds that the generation is expected to exert “considerable influence” over many industries in the United States.
Although echo boomers hold the highest post-housing collapse unemployment rate of any demographic, they are actually highly educated and hold substantial buying power.
Consider that echo boomers are delaying homeownership and, consequently, revenue for the apartment and condominium construction industry is projected to grow an average 10.6% per year to $44.95 billion in the five years to 2017.
This generation also wants to live in metropolitan areas. Therefore, the commercial building construction and real estate industries are expected to benefit. Commercial real estate industry revenue is expected to hit $860.18 billion in 2017, up from an estimated $602.61 billion in 2012.
