There are eight factors driving the real estate high-rise boom. Of these, the primary driver is home equity. Significant high-rise development doesn’t make sense in markets where single-family homes cost less than $250 per square foot.
1. Demographics: There will be more than a 25 percent increase in the population of people over the age of 50 this decade, many of whom prefer not to own a high-maintenance home. This “over 50” group will also have far more money than any generation before, thanks to dual incomes, rising home prices, and record levels of inheritance.