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

Multiple Choice

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:

A) the increasing number of senior citizens who are "empty-nesters."
B) the fact that consumers in urban areas generally have higher incomes.
C) the increasing number of 45-64 year olds whose children are grown.
D) All of these explanations could be relevant.