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Peak Millennial?

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Peak Millennial?

Cities Can’t Assume a Continued Boost from the Young

The New York Times,

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Аудио и текст

Что внутри?

New research suggests millennials have had enough of city life and may soon be on the move back to their childhood suburbs.

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Editorial Rating

8

Qualities

  • Analytical
  • Eye Opening
  • Overview

Recommendation

Young people rejecting the lifestyle of their parents is nothing new; neither is waking up in your 30s and realizing that your parents were right after all. Since the late 1990s, countless millennials have ditched their parents’ suburban lifestyle and poured into inner cities, rejuvenating downtown neighborhoods and triggering a construction boom. The conventional wisdom has been that millennials would remain in downtown areas indefinitely. Yet San Francisco-based New York Times correspondent Conor Dougherty finds growing evidence that this may not be the case. getAbstract recommends Dougherty’s article to real estate professionals, urban developers and baby boomers hoping to see their grandchildren move closer.

Summary

When millennials – the generation born in the 1980s and 1990s – came of working age, many opted to live in downtown areas. Unlike the previous generation, which tended to settle in suburbs, millennials rediscovered the advantages of urban living, including shorter commutes and walkable neighborhoods. Money started to pour into America’s long-neglected inner cities, attracting new businesses and rejuvenating neighborhoods. As pressure on rents intensified, a boom in new downtown housing construction ensued. The dominant assumption has been that ...

About the Author

Conor Dougherty is a San Francisco-based technology correspondent for The New York Times.

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