Urban vs. Suburban Lifestyle

[VacantLuxuries]

I wonder how much our jobs being spread out have to do with it. There isn't a suburb apartment building that can't point to XYZ company nearby and say "This apartment is for professionals working right over there, so we can charge them more for the convenience."

[QuietBlue]

I'm sure it's a contributing factor. There are plenty of people who work in the suburbs who want to live near their workplaces, but not in a SFH for whatever reason.

[grant1simons2]

Bloomington has lost it's former "luster"

http://www.startribune.com/bloomington- ... 374342961/

[Anondson]

That article had a great core but derailed off to quirks of ratings websites. I think the "lost luster" is real in other ways besides school district image that was worth going to greater detail in length, plus the city's efforts.

[kirby96]

EDIT: whoops, got a little behind topics here, this refers to the 'Millenials will flee cities' topic a couple days back...

I think an earlier poster nailed it. Millenials are going to get older, have families and a lot of them will move to the 'burbs? Wow. Brilliant analysis and knock me over with a feather!

At that point we'll have another 'named generation' that will likely be moving to the cities. Might be a little smaller cohort, but it will almost certainly happen.

I get the feeling I'm a bit older than the crowd here (as a 'Gen X-er') so will attest this is hardly a 'new thing'. After college TONS of my friends moved to the city, and a few years later most left. A decent chunk like me and most of the people I still hang out with from those days stayed, raises kids, etc. The city is vastly more attractive for many people today, so as this 'new trend' plays out, I think larger chunks will end up staying.

[clf]

http://www.realtor.org/news-releases/20 ... rban-areas
NAR Generational Survey:
The share of millennials buying in an urban or central city area decreased to 17 percent (21 percent a year ago) in this year’s survey, and fewer of them (10 percent) purchased a multifamily home compared to a year ago (15 percent). Overall, the majority of buyers in all generations continue to purchase a single-family home in a suburban area, and the younger the buyer, the older the home they purchased.

Lawrence Yun, NAR chief economist, says while millennials may choose to live in an urban area as renters, the survey reveals that most aren’t staying once they’re ready to buy.

Characteristics of Buyers

The median income of millennial homebuyers in this year’s survey was $77,400 ($76,900 in 2014), and they typically bought a 1,720-square foot home costing $187,400 ($180,900 a year ago). The typical Gen X buyer was 42 years old, had a median income of $104,700 ($104,600 a year ago) and typically purchased the largest home compared to other generations (2,200-square feet), costing $263,200 ($250,000 last year).

[LakeCharles]

Star Tribune wrote about growth in the Twin Cities and quoted a few streets.mn'ers:

http://www.startribune.com/reversing-co ... 388036832/