HomeFront Construction Company built large, single-family homes for 25 years. Then there was a shift toward more demand for small luxury condominiums-and HomeFront changed its focus. The change in demand could be explained by:

Question

Quizplus · Accepted Answer

All three explanations provide valid reasons for the shift in demand towards small luxury condominiums. As senior citizens become empty-nesters, they no longer need large single-family homes and may desire the convenience and security of condominium living. Consumers in urban areas generally have higher incomes and may prefer the luxury and convenience of upscale condominiums. Similarly, the increasing number of 45-64 year olds whose children are grown may also desire the convenience and luxury of condominium living.

HomeFront Construction Company Built Large, Single-Family Homes for 25 Years