Future Will Be Cozy

A vision of the future: More people with less money living in smaller residences closer to transit stops. Globe St.'s Bob Howard follows up on that recent Urban Land Institute report by interviewing Bob Gardner, of estate advisory and consulting firm RCLCO, who helped present the report. "Transportation costs and the time lost in commuting are becoming too great for some people. We're seeing more interest in being closer to jobs and spending less time commuting," Gardner says. In addition, he comments, "The next generation might not have as much money to spend on housing or rent, and that could translate into a new round of products." Those products, ie, smaller apartments and condos, will be more lucrative to the growing Gen Y group, according to Gardner. More on the report/conference here. [Globe St]