The Revitalist

The concept of The Long Tail has been kicking around for a while now, and recently CoolTown Studios made the connection to real estate. The idea is that the sum of all the niche market activity is now gaining in power and influence over the traditional conventional market (compare iTunes/MySpace with Tower Records). Virginia Postrell talked about the growing phenomenon of mass customization (the wide availability of personalized choice) in her book The Substance of Style. CoolTown is suggesting that as customers become acclimated to the market's ability to cater to their niche interests, the long tail will trickle down to housing. We are getting similar feedback from our market research. People don't want to live in a vanilla box or one of three styles available in the subdivision. They want a home that reflects their unique style and personality, and they expect that it will be available in the marketplace. We are dipping our toes into this idea by offering lots of different unit layouts and some customization options to prospective renters at WM Lofts. Hopefully, it will be a success, and we'll be able to take it further in the future.

Interview with The Long Tail author, Chris Anderson, on WBUR's On Point.