LESS MILLENNIALS REPORTED IN LARGE CITIES THAN PREDICTED
Millennials have gravitated towards large cities in search of jobs, walking distance to shops and services, and entertainment. With the decline of Millennials entering urban areas there have been reports of a stalled urban growth, which in return halt housing development and raised rents in large cities around the country. With fewer Millennials moving to urban areas than predicted and people in their 30’s and 40’s moving to the suburbs the pressure to develop these urban areas is starting to relax and balance out.
Are big town USA’s woes good news for Santa Cruz and Santa Cruz Commercial Real State? Are we suburb? Will young educated people flock here instead of the larger urban areas. Or is it that they already have?
Reference: The Wall Street Journal, January 2017