When I read it, I was shocked. Even depressed.
Metropolitan Home Magazine closed up shop.
The announcement appeared in the editor’s page of Elle Décor Magazine. Metropolitan Home and Elle Décor are both published by Hachette Filipacchi Media US.
Metropolitan Home premièred 28 years ago just about the same time I got out of college and moved into my first apartment. Just about then, a good number of my fellow Baby Boomers were purchasing their first houses.
The closing of Metropolitan Home is not a simple stand-alone.
The editor of Elle Décor cited the bigger picture of the change.
As Margaret Russell, the editor-in-chief, commented, “Truth be told, I too sorely miss House & Garden, Domino, Southern Accents and Cottage Living – as does anyone who is passionate about interiors and design.”
Add to that list Country Home, O At Home (Oprah), Home, Gourmet and Hallmark magazines.
All closed those doors and stopped the press in 2009!
While the economy and the growth of Web publishing has a lot to do with the doors closing, there is indeed a bigger factor impacting housing as we know it.
It can all be summed up in one word… Millennials!
Sure, aging Boomers are more focused today on saving whatever is left of their retirement funds. Gen Xers are more focused on cocooning with the kids and getting those kids off to college.
But, it is the Millennials that now are driving the housing market.
If you have your doubts… go look at the stats of just what segment of the housing market is showing some positive growth...houses in the $150k-$200K ranges.
Furthermore, go tune into HGTV starting at 8:00pm and watch My First Place and Property Virgins that now dominates Prime Time. And by the way, those Millennials are also representing a growing share of the folks on House Hunters.
Dwell Magazine and ReadyMade Magazine are still selling strong showcasing everything from the eco-green small space home to the trendy changes you can make in a “mid-century” 1960s tract home.
And if you skim through the pages of Better Homes & Gardens, you will see a bunch more Millennials than Boomers whether decorating their home office, renovating their “man rooms,” planting their first gardens or showcasing their favorite quick-cook recipes.
If you are still in doubt, tune in this weekend as HGTV premiers the new show The Antonio Treatment hosted by the tattoo, multi-body pierced, street-talk 2009 HGTV Design Star winner.
I just can’t see Antonio showcasing well in Metropolitan Home or House & Garden Magazines.
Several of the trends we cited in the 2010 Trendcast are all here at work.
Whether driven by “Mid-Century Suburban Rehab” or “The Family Value of Couplehood” or “Grassroots Stardom,” the New York-to-Paris-metro-chic-country-estate-designer space is a now history.
Get ready to embrace the Millennials…they are coming on strong in 2010!