The market is driven by the working-age population. Politics is driven by the voting population. Millennials are the largest working population. My Generation X is the middle child of two large generations and is largely ignored. According to, Gen X will not overtake boomers in population until 2028. Voting, however, is dominated by the Silent Generation and boomers, leading politicians to non-market-based decision-making.
Attend any public meeting or town hall. The event is typically directed by a baby boomer and attended by an elected or appointed official of the same generation, with a vast majority of the audience being fellow boomers or Silent Generation members. These voters typically favor large single-family lots, low density, wide expanses of parking and brick-and-mortar retail with an emphasis on sit-down dining.
On a per-trip basis, according to a Nielsen study, Silent Generation shoppers spend less than $40. Boomers are slightly better, but still well under $50. Millennials, however, spend nearly $60 per trip — and they shop more often. Retailers and developers realize millennials are the largest sector of the workforce. This happened prior to the pandemic, but since then boomer retirements have created a silver tsunami. Thirty million boomers have left the workforce and are enjoying retirement.
If the market is driven by these younger buyers, why are more projects not geared to them? City planning remains tied to baby boomers and older preferences because that is where the votes are. This dialectic conflict has wide-ranging consequences.conference paper, I used the 2015 mayoral elections as a guide. Of the top 30 major cities in the United States, Dallas had the lowest voter turnout, with only 6%. Contrast that with nearly 60% in Portland. Even arch-rival Houston was at nearly 20%.