@Matthew Schroeder I was listening, on the radio, to a local government official who noted that Indianapolis had approximately 10K folks move into  downtown area - mainly millennials and empty nesters.   *** past performance is not an indication of future growth

I know there's a lot of chat about millennials being a sharing/renting generation but I'll put that aside. 

Large apartments have had a good run but everything we learn and read about is that the trend of renter demand should continue w/millennials and boomers.  

Considering millennials are moving here the most, apartments and affordable housing will continue to be a major need.

Interestingly, this upturn in the market differs from the "bubble" we saw burst in 2008, in that it is underpinned by basic economics (low supply, high demand, and low interest rates), and it correlates with what we're seeing in consumer behavior (such as millennial buyers delaying first home purchases until well into their 30's).So...I think we're in for an interesting ride, and there may be some significant opportunities in new construction in the coming years.I also see a secondary impact on the rental market...yes, cap rates will be squeezed when prices rise, but then rents will rise as well (with a lag) until we build 3 million + houses to stabilize the supply & demand.

I have read a lot lately that indicates malls faring better are ones which:have an Apple storeare connected to a cinemaintegrate high-tech elements (such as interactive maps, strong fast free WiFi, mobile charging stations, gaming/sports screens, etc.)embrace pop-up shops in vacant spacesprovide experiential shopping perks such as a DJ booth, giveaways, etc.I think that with millennials now being the largest U.S. demographic (recently surpassing baby boomers) and their inclination to spend money on food, travel and experiences rather than retail commerce, it will be very important for malls to continue to diversify their offerings beyond just "typical" shops.  

A recently married man that would be considered a millennial. 

Right now, there are a LOT of run down houses, some neighborhoods can be pretty rough with abandoned homes, lots of blight and obviously not very appealing to a wider, millennial audience.

Midsouth uses a mail list, like waiting in line so everyone who is interested (new investors or investors with multiples) has an unrushed opportunity to become an investor.I do not think of Memphis as an appreciation market, perhaps that is changing with millennials moving in.

We’re active members of AZREIA in which we run a sub-group called “AZREIA Millennial Investors”.