Generations at Work

Like one big, happy family. These are the CRE updates you won’t want to miss.

🗓️ August 8, 2025

The more, the multigenerational

If the thought crossed your mind recently that the new hire could be your grandchild (or vice versa), you're probably not alone. But as much as we hear about Gen Z entering the workforce, older workers (65+) remain the fastest-growing U.S. office demographic—11 million are currently employed nationwide, with that number projected to grow by 97% over the next decade. Not terribly encouraging news for those who envisioned their 70s at the beach or on the golf course, but it's become reality, driven by both extended life expectancy and economic necessity. But older workers are clocking in by choice, too—many white-collar workers report finding fulfilment from status, interesting projects, and competition.

And in the meantime, employers have to identify how to leverage strengths and weaknesses across the five generations (with a sixth quietly on the way). The modern workforce is more diverse age-wise than ever before. That means juggling six unique sets of expectations, communication styles and motivations under one roof.

🏁 With challenge comes opportunity

Each group has its own edge: Gen Zers are entrepreneurial and hungry for feedback, Millennials seek purpose and flexibility, Gen X is resourceful and independent...and Boomers, of course, bring experience. And despite their differences, every generation wants to feel valued, challenged and connected in the workplace. Find out how you can lead with a multigenerational mindset.

If you catch a Gen Z stare, it's for good reason. Gen Z and Millennials report lower levels of well-being and overall workplace experience—even though they’re more eager to be in the office than their Boomer counterparts. In fact, 76% prefer to work from the office weekly, compared to just 61% of Boomers.

Despite the social media hand-wringing, rent-to-income ratios across the U.S. are still hovering near recent lows. So if renters are packing up, it’s not because they’re priced out—at least not broadly. Across 167,000 units in our national portfolio, former residents told us their top reasons for moving: roommate changes, relocations, and lifestyle shifts, not necessarily rent costs.

Still, if it feels like finding an apartment has become a full-contact sport, you’re not wrong. The three core demand metrics we track—contacts per unit, tours per unit, and applications per unit—are up 34% year-over-year, signaling a tighter leasing market. Check out Sam Tenenbaum's latest analysis of the multifamily sector.

🔎 Other ideas we're watching

Delivered ahead of schedule “If you were waiting to see if we could get it done, you have your answer,” said CEO Michelle M. MacKay during Q2 earnings on Tuesday. We posted $2.5B in revenue last quarter, up 8%. Capital Markets fee revenue surged 26%, marking the third straight quarter of double-digit YOY growth—a clear signal the tide has turned. Read the press release. 

Tariffs, turbulence and turning points with Bisnow James Bohnaker took on the herculean task of unpacking the last month of economic policy turmoil with Bisnow LLC editor-in-chief Mark F. Bonner. See how he put a bow around it in the latest episode of First Draft Live.

Or, watch the conversation here.

The Big Apple's not going anywhere Restaurants are still hot in NYC, if the $25 cocktails didn't tip you off. 'If you can vent it, you can rent' is the slogan for landlords and brokers alike as demand soars for space, particularly in Manhattan. Read Steven Soutendijk's comments for The Wall Street Journal here.

Vive l'Europe When Milan's Via Montenapoleone took over as the #1 most expensive retail street in the world, it shook the foundation of the CRE retail market and redefined the global pecking order. Les Echos reports on what the reshuffling could mean for the future of European retail. Read the full article or refresh your memory of the top 20 main streets across the world.