March 4, 2017

CITIES WERE A MISTAKE:

Where millennials want to live might surprise you  (Phillip Molnar, 3/03/17, SD Union-Tribune)

A pair of studies released this week suggests that the majority of millennials want to live in the suburbs, have already started buying outside urban areas, and base their homebuying decisions mainly on affordability.

Reports by Zillow and Harvard break with stereotypes of America's largest generation, namely that they prefer to rent because they favor experiences over building equity and want to live in urban environments.

Such preferences could have an impact in San Diego, which has the one of the biggest concentration of millennials in the nation yet has moved away from building single-family homes to apartments and condos.

Millennials only make up roughly 10 percent of the nation's homeowners (the oldest millennials are about 35 years old). The majority who have made the leap decided to follow in the footsteps of their parents and grandparents.

Nearly 50 percent of millennial U.S. homeowners were in the suburbs in 2016, 33 percent in an urban area and 20 percent in rural places, said Zillow's Group Report on Consumer Housing Trends. The report used Census data and a Zillow survey of more than 13,000 homebuyers, sellers, owners and renters.

Which is why demographics don't help the Democrats.
Posted by at March 4, 2017 7:23 AM

  

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