High Amenity Living trend

senseless

macrumors 68000
Original poster
Apr 23, 2008
1,787
179
Pennsylvania, USA
There appears to be a new, mostly rental, lifestyle trend towards community living with shared amenities. Group entertaining spaces, gyms, dog washing stations, barbecues, lavish pools etc. Is this going to replace the old American dream of single-family home ownership and what’s driving this trend?
 

Scepticalscribe

macrumors Sandy Bridge
Jul 29, 2008
48,497
32,278
The Far Horizon
There appears to be a new, mostly rental, lifestyle trend towards community living with shared amenities. Group entertaining spaces, gyms, dog washing stations, barbecues, lavish pools etc. Is this going to replace the old American dream of single-family home ownership and what’s driving this trend?
I suspect a number of factors may be driving this trend (if trend, it is).

Firstly, high rents in cities, and the fact that many people can no longer afford the sort of apartment or flat that would have with their reach a few decades ago, - and , likewise, they cannot afford to buy - as, while the cost of living has increased in some ways, wages static or have risen a lot less, and employment a lot less secure and stable.

Secondly, because of the expense of space, smaller flats or apartments have been increasingly designed, flats and apartments that may not have space for all of the amenities that one may have traditionally expected to have when renting an apartment of one's own.

Taken together, these factors may lead to sharing some amenities.

Thirdly, the nature and structure of what are considered families has changed; not only has the nature of the economy changed, but the nature of women's lives have also changed, as they have more education, autonomy and economic independence, giving them choices in life - including deciding whether to have children and, if so, how many, choices which barely existed half a century ago.

Thus, there are far more single (or widowed, or divorced) people living on their own these days; the older style house were designed for the family units of the mid twentieth century. Thus, housing increasingly reflects the needs of single (or widowed, or divorced) people.

Fourthly, where families exist, they are far smaller; few people have more than one or two children.
 
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ThisBougieLife

macrumors 68020
Jan 21, 2016
2,145
6,661
SF Bay Area, California
These kinds of apartments are all the rage here in Silicon Valley. My friend just moved into such an apartment: dog wash station, two gyms, large pools with fountains, huge barbecue spaces...he and his girlfriend pay $3000 a month for a studio. (The place itself seems to be primarily populated by young people working in the tech industry).
 

senseless

macrumors 68000
Original poster
Apr 23, 2008
1,787
179
Pennsylvania, USA
It's an interesting change. A generation ago, people wanted as much space around their home as possible to get away from neighbors. Now, we seem to be embracing social interaction. Smaller living spaces with the big entertaining areas, pool table, exercise room etc as a shared thing.
 

BootLoxes

macrumors regular
Apr 15, 2019
237
152
I think its a combination of higher cost of living, higher costs of school, and lower salaries that is causing this. For many it just is out of their reach to ever own a home. This is a good alternative and encourages social interaction
 

senseless

macrumors 68000
Original poster
Apr 23, 2008
1,787
179
Pennsylvania, USA
I don't think this is an affordability choice, because $3000 per month can certainly buy a home or condo is most areas of the country. Maybe because property taxes are no longer (essentially) deductible, there's less of a financial incentive to own?
 

HDFan

macrumors 68000
Jun 30, 2007
1,787
427
Is this going to replace the old American dream of single-family home ownership and what’s driving this trend?
In some areas single family housing will be replaced by alternatives.

For one reason, (oversimplified), at 35:

Baby Boomers owned 21% of the nations wealth
Gen X (1965-1980) owned 9%
Millennials will reach 35 in 2023. They currently hold 3.2% of the nations wealth.

Wealth is concentrated among the richest in each group.

https://www.washingtonpost.com/business/2019/12/03/precariousness-modern-young-adulthood-one-chart/


Screen Shot 2019-12-04 at 1.36.26 AM.png

In some areas single family housing is no longer feasible, both to cost, lack of land, etc. Minneapolis will be ending single family housing zoning in an attempt to deal with the issue.

https://www.nytimes.com/2018/12/13/us/minneapolis-single-family-zoning.html
 

Zenithal

macrumors G3
Sep 10, 2009
9,285
10,282
Dog washing station? Sigh. In my day, you squirted the dog with dog grooming sudsy stuff and hosed the dog down, as you took breaks for dog to shake itself off and fixed your garden hose on the neighbor's irritating cat that was the devil in disguise.
 

D.T.

macrumors G3
Sep 15, 2011
9,409
7,531
Vilano Beach, FL
There's quite a few of these in my area, all very new, and several of them aren't rentals/apartments, they've purchases/condos, and pretty high end too. The couple I'm thinking of are nicely self-contained areas too, the grocery, some restaurants, etc., are all accessible via cart paths, a couple have schools right on the same property.

There's certainly a huge convenience factor, and if you have no use for things like a big yard, it makes sense.
 

Plutonius

macrumors G3
Feb 22, 2003
8,177
6,603
New Hampshire, USA
In some areas single family housing will be replaced by alternatives.

For one reason, (oversimplified), at 35:

Baby Boomers owned 21% of the nations wealth
Gen X (1965-1980) owned 9%
Millennials will reach 35 in 2023. They currently hold 3.2% of the nations wealth.

Wealth is concentrated among the richest in each group.

https://www.washingtonpost.com/business/2019/12/03/precariousness-modern-young-adulthood-one-chart/


View attachment 880711

In some areas single family housing is no longer feasible, both to cost, lack of land, etc. Minneapolis will be ending single family housing zoning in an attempt to deal with the issue.

https://www.nytimes.com/2018/12/13/us/minneapolis-single-family-zoning.html
As others have mentioned, I'm not sure it's entirely financial when the people are paying $3000 / month for a community living studio apartment.
 

HDFan

macrumors 68000
Jun 30, 2007
1,787
427
As others have mentioned, I'm not sure it's entirely financial when the people are paying $3000 / month for a community living studio apartment.
In my area a 20% down payment on the average house ($1.3M) is $260K. Monthly mortgage payment would be ~$4700. Property tax, insurance, other costs are another $1650 so your total monthly payment would be $6431. Assuming 30% of Income goes to mortgage it would mean a monthly salary of $21K, or $257240 a year would be required. This is more than the $246K average that google pays. Average rent here is $3302, 1/2 the cost of owning not including down payment and maintenance.

An extreme and gross example, but this is a scenario for those extreme places.
 

Huntn

macrumors demi-god
May 5, 2008
17,726
17,835
The Misty Mountains
These kinds of apartments are all the rage here in Silicon Valley. My friend just moved into such an apartment: dog wash station, two gyms, large pools with fountains, huge barbecue spaces...he and his girlfriend pay $3000 a month for a studio. (The place itself seems to be primarily populated by young people working in the tech industry).
It's an interesting change. A generation ago, people wanted as much space around their home as possible to get away from neighbors. Now, we seem to be embracing social interaction. Smaller living spaces with the big entertaining areas, pool table, exercise room etc as a shared thing.
My understanding is that young people want to be close to work, and don’t want to be saddled with a house and all it entails. This of course is a broad generalization. It’s interesting because I’d want no part of apartment living, don’t want to hear neighbors or kids stomping around upstairs.
 
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rhett7660

macrumors G5
Jan 9, 2008
12,373
2,356
Sunny, Southern California
My understanding is that young people want to be close to work, and don’t want to be saddled with a house and all it entails. This of course is a broad generalization. It’s interesting because I’d want no part of apartment living, don’t want to hear neighbors or kids stomping around upstairs.
You and me both! No thank you. For some, this is what they want, but like you, I want no part in it. I like owning a house and even though it entails a lot of upkeep and what have you, I don't mind it.
 

ejb190

macrumors 65816
Wealth is concentrated among the richest in each group.
I hate these kinds of statistics because they reenforce the false idea that wealth is finite - that if someone wins, someone else has to lose. https://www.forbes.com/sites/objectivist/2011/06/14/when-it-comes-to-wealth-creation-there-is-no-pie/#480343bd7a2c

Back to the changes occurring in housing - the younger generations seem more adept at trading "things and stuff" for experiences. It would make sense that they would want a smaller apartment with more communal space, near recreation, dining, etc. But if I'm right about this, what's up with all the storage units being built everywhere? To hold with this idea, they must be being rented by Boomers and Seniors who are downsizing and not parting with their stuff.

I also think there is a lot of regional influence on this as well. I would love to have a smaller, well designed home, but everything being built around here is 1800 sf and up. Even on the micro lots around the lake. But that's not going to happen in a higher cost metro area.

It's an interesting observation.
 
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user_xyz

macrumors 6502
Nov 30, 2018
273
212
I was just thinking the other day after seeing an old movie where the people lived in rooming houses:
Why don't we have those anymore?
And these houses in the movies were safe and quiet with no crack dealers or prostitutes hanging out!! ;)
 

3SQ Machine

macrumors regular
Dec 8, 2019
103
39
We're having less kids as a country and having them later. That was one reason for the boring 'burbs centered around children, schools, malls, etc. These areas are now struggling. Now, some people might work for a good 10-15 years before starting families--if ever. That's a long time.

However, pendulum swings both ways and once the next generation starts having kids, etc. some of this will balance itself out.
 

HDFan

macrumors 68000
Jun 30, 2007
1,787
427
It is not possible due to cost or physical restraints?
Yes. No land available means high cost and no new single family homes. Existing homes are bought for multi million dollar prices, demolished, and replaced. In a well off area near me they just knocked down two homes. That's what Jobs and Zuckerberg did, reducing limited housing stock and raising prices even more.