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News for Product Manufacturers from Hanley Wood CEO Frank Anton
A New Generation Gap
On Dec. 19 I turned 60, making me an AARP-card-carrying member of the Baby Boom generation. On Feb. 8 my oldest daughter Emily will turn 30, making her a full-fledged member of the Millennial generation. Every eight seconds another Baby Boomer turns 60; every seven seconds another young American turns 30. There are more of them (75 million) than there ever were of us (60 million).
And that's just one difference between the generations. Consider childhood. We grew up with the World Book Encyclopedia; they grew up with Google. I grew up knowing Wonder Bread built strong bodies in 12 ways, and that dinner without red meat and potatoes wasn't really dinner at all. Millennials grew up worried about wheat allergies and skipped the steak for an extra portion of zucchini. We did our homework; we did their homework. A Boomer family of five shared one bathroom; every Millennial had her or his private bath as a kid. We grew up with black and white television and three channels that showed test patterns after the 11 o'clock news; they had cable with hundreds of choices, 24/7.
Think about sports. Mickey Mantle and Willie Mays. Boomers will still argue about who was the better all-around ballplayer. The younger crowd wonders why A-Rod dated Madonna instead of somebody closer to his own age, like Jessica Simpson. Then there's soccer, which for us came down to Pele. Period. Many Millennials can name the starting lineup of the USA's women's World Cup Team. We remember the Purple People Eaters and the Steel Curtain; they think spread offense.
The lifestyle differences are profound. They have tattoos; for the most part, Boomers do not. Male Millennials shave their heads in order to be bald; Boomers are bald -- naturally. Boomers go out to dinner around 7 or 8 on Saturday and are tucked into bed around 11, or about when Emily and her friends are walking out the door. When Boomers talk about drug use, they're talking about Lipitor. The drugs Millennials use have a considerably higher recreational dosage. When they visit a new city, Boomers get pretty excited when they find the Oldies station on the local FM dial; Millennials carry their own playlists on their iPods, and the playlists do not include Stairway To Heaven or Light My Fire. Boomers wear Dockers; Millennials do not. Male boomers, when young, had girlfriends. Male Millennials have girls as friends.
And you can't ignore the divide around technology. Virtually all Millennials can program any remote control; Boomers worry that hitting the wrong button on the remote could launch a U.S. missle strike against a friendly country. Boomers, when nostalgic, will thumb through their high school yearbook. Millennials log onto to Facebook, 120 million times a day. Boomers have landline phones and actually call friends and relatives; Millennials text each other, 16 billion times a month.
So, at this point, you might be asking, "What's the point?" The point is this: For the last 30 years, the Baby Boom has dictated housing trends, but now that's about to change. Millennials are set to take over, and they'll become your customers' (dealers) customers' (builders and remodelers) customers (new home buyers and homeowners). Remember that they're different. They'll want new choices and new products. They might even want your job. Are you ready? Or are you hoping for a return to the good old days of meat and potatoes and Top 40 list with a Beatles song at No. 1?
Send e-mail to Frank Anton |
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News and Trends from Hanley Wood Magazines
New: Local Markets Report on BUILDER Online
BUILDER and Hanley Wood Market Intelligence launch the Local Markets section online, with details including market hotness, top builders, local economic conditions and more. (BUILDER Online)
Shea's Game Changer
Shea Homes' introduction of its Spaces brand takes dead aim at home buying's Generation Next of entry-level singles and couples ages 25 to 40. It's the story of slaying this three-headed dragon and moving toward redemption. (BIG BUILDER, January 2010)
Special Report: Starting Over
The remodeling industry ain't what it used to be. The recession has brought about deep change — a new way of doing business. This collection of feature articles shows what that reorganization looks like. (REMODELING, January 2010)
Ante Up
ProSales' latest survey finds dealers betting cautiously on better conditions in 2010. (ProSales, January 2010)
The Most Innovative Home Never Built
The Builder Concept Home 2010: A Home for the New Economy, exemplifies a dramatic shift in how homes are designed, built, maintained, and lived in. Inexpensive to build yet classically detailed, it is a model of adaptability, sustainability, and livability for the current housing economy and its future. And, it's entirely virtual. (BUILDER Online)
The 57th Annual P/A Awards
The 57th annual P/A Awards recognizes nine projects that exemplify the speculative value of progressive design. (ARCHITECT, January 2010)
A sneak peak: 2010 World of Concrete's most innovative products
Now in its eighth year, the contest showcases tools, equipment, and materials that help make jobs easier for those working in concrete, masonry, and general construction, as well as in facilities maintenance and operation. (PUBLIC WORKS, January 2010)
2010 Builders' Show Preview
Hanley Wood's product experts highlight innovative new products debuting at the 2010 International Builders' Show. (ebuild) |
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Housing Statistics and Analysis from Hanley Wood Market Intelligence
- The NAHB Housing Market Index declined again in January and slipped back to its lowest levels since June 2009. The index fell to a reading of 15, which is a one-point drop from a reading of 16 in December. Lower mortgage rates and the extended home buyer tax credit have helped resales, but have not had such a positive impact on the new-home market. The winter months are typically the slowest months for home buying activity, although many hoped that low rates and the home buyer tax credit would help spark demand.
- Two of the three component indexes reported monthly declines, while another remained unchanged. The index for present conditions in single-family home sales fell one point from the previous month to a reading of 15. The index for single-family home sales in the next six months remained unchanged from the previous month at a reading of 26. The index measuring traffic of prospective buyers declined one point from December levels to a reading of 12.
- All four regions posted monthly declines in home builder confidence. The West region posted the largest monthly drop, declining three points from December levels to a reading of 16. Home builder confidence in the other three regions all declined by one point from their December levels, with the Northeast declining to 22, Midwest falling to 11, and the South falling to 16.
For more from Hanley Wood Market Intelligence, vist our Web site. |
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