The city of Baltimore is commonly regarded to as the Charm city which in recent times has witnessed an influx of young professionals from different parts of the United States. The older population is appearing to be reducing and as a result due to demographic changes several sectors are likely to be affected. Among the sectors that are going to be affected is the real estate industry. The rise of young population has created demand for Apartments. Whereas the demand for apartments has increased on the other hand the demand for permanent residential areas has reduced due to the fact that the older population is declining. Young people are looking for houses where they can operate from work and they haven’t yet settled down like the older generation. For this reason, real estate developers are refurbishing and renovating older buildings to create a larger number of apartments and condominium to meet the rising demand.
The demand is expected to rise higher than what is currently being experienced due to a number of factors. One the public transport sector is being expanded and improved, something that will attract more people to come and live in Baltimore. The second most important factor is that there is conducive environment to do business in Baltimore and a lot of business and startups that have already set camp in Baltimore are doing very well. The low cost of living in Baltimore as compared to Washington DC has also attracted a lot of the millennials. Lastly, Baltimore attracts many young people because it is a shopping and dining destination. There are a lot of restaurants and luxury shops that tend to attract lots of the younger generation. Check out Ideamensch for more info.
About Todd Lubar
Todd Lubar is currently the President of TDL Global Ventures, LLC and also the Senior Vice President of Legendary Investments. Lubar has over twenty years worth of experience in the real estate industry and as an expert has helped thousands of people in fulfilling their dreams of owning a home.
Todd Lubar has also worked in the financial industry for quite some time and the combination of his expertise in real estate and finance has made him be one of the most sought-after real estate agents by many home buyers.
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