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Millennials, Housing, and the Recovery: Highlights from the 2015 ULI Conference


It’s the dawn of the fourth quarter, and many of us who are involved in the real estate industry are starting to look into the crystal ball, trying to anticipate what 2016 will bring.  The Fall ULI Conference is always ideally timed in this sense because it offers a high-level perspective of the economy and the industry as a whole.  This year, my Residential Neighborhood Development Council brought in John Burns Real Estate Consulting to discuss the “headwinds and tailwinds” that will have an impact on the housing market and the industry as a whole in 2016 and beyond.

“Demographic Tailwinds”
There has been much speculation about the Millennial generation and how these individuals will affect the economy as they age.  The best comparison we have for such a large group of individuals coming of age is the Baby Boomer generation, but the similarities end there.  While Boomers demonstrated a strong inclination toward entering the workforce, getting married, and having children, Millennials have not followed this same path.  Mr. Burns argues that due in large part to the Great Recession, older Millennials have pushed off “household formation” – i.e. a married couple living together under one roof.  Many individuals in this generation sought higher education degrees, which has left them with an unprecedented amount of debt.  In some cases these individuals have formed households, but have postponed having children due to these economic circumstances.

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Travis County Community Celebrates Parmer Lane Sustainable Roadway Ribbon Cutting


Earlier this month, members of the Travis County community including Austin Mayor Steve Adler, Council Member Ora Houston, and Travis County Commissioner Ron Davis gathered to celebrate the grand opening of the Parmer Lane Sustainable Roadway project.  This new road extends Parmer Lane by 1.5 miles, connecting US Highway 290 to State Highway 130 in eastern Travis County.  Designed by RVi, the Parmer Lane Sustainable Roadway embraces Low Impact Development by capturing stormwater runoff in a series of bioswales alongside the road.  This method of stormwater management improves upon the popular model of creating detention ponds to capture and filter water by distributing the water over a larger area and allowing it to re-enter the soil much closer to its source.

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RVi Takes the Texas State Fair


The Annual Retreat is by far the most anticipated event of the year at RVi, and this year’s trip to the Texas State Fair did not disappoint. The adventure began with a catered lunch at our Dallas office, giving employees from all three offices the opportunity to hang out with their long-distance co-workers in person and tour the recently renovated office. Following lunch we caravanned to the W Victory Hotel downtown and then hopped on the DART to the Texas State Fair.

From funnel cakes and corny dogs to an endless supply of craft beer, our employees clearly had their priorities in order. Needless to say, upon entering the fairgrounds many of us made a B-line for the food court. Our first stop was the winner of the 2015 Taste Contest, the “Holy Moly Carrot Cake Rolly” – a delicious carrot cake and cream cheese pinwheel, deep fried, topped with powdered sugar, and served with whipped cream and caramel sauce on the side. Let me assure you, the 20-minute line was SO worth it.

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