Demographer: Expect A Millennial Exodus In The Next Few Years
Experts have always struggled to understand Millennials, but one thing everyone seemed to agree on was that they love cities.
Yet, there’s mounting evidence Millennials’ love of cities is less about love—and more about being stuck. "Observers have confused young people’s presence in cities with a preference for cities," Dowell Myers, an urban planning professor at USC says, according Fortune.
According to demographer William Frey, Millennials have wanted to buy homes in the suburbs. However the 2008 collapse, slow recovery and poor job prospects have forced the younger demographic to stay in the cities.
In a presentation on what he calls "Peak Millennials"—those born in 1990—the professor says they will kick-start a mass exodus to the suburbs within the next few years. Myers says Millennial presence in cities will evaporate, "if we don’t make some plans now." [Fortune]
