Yahoo – While millennials might have once shuddered at the thought of trekking out to the ‘burbs, millennials (who make up 42% of all homebuyers — more than any other generation), are trading in the hustle and bustle of cities for less chaotic communities. And many of these “surban” environments provide millennials with the kinds of amenities they got in the city, including boutique fitness options, high-quality grocery stores and popular restaurants.
In comes the so called “surban” lifestyle as millennials are looking for the amenities of the city living with more space coupled with the suburban location.
Listen putting a Starbucks in my development is not gonna make me move out to the burbs. Do you think I live in the city because I enjoy paying through the teeth for my apartment?
No, its convenience. Always has been always will be. I used to live on the South Shore and the commute from there to downtown Boston might as well be the Trail of Tears.
Drive to the T, pay to park, get on the overcrowded train, ride that for an hour, walk to your office then do it all again the other way at 5 pm. So I said fuck that noise and moved to the city to be closer to work, the bars, the food etc. Uber legit just became allowed in my suburban hometown so I’m not exactly itching to go back to that way of life.
“Almost half of millennial homeowners live in the suburbs, and the majority stay in the same metropolitan area when they buy a home, according to research from Zillow.”
Do the people who write these articles even take a glance at home prices before hitting send? The reason most millennial homeowners (which I still believe is an urban legend) buy homes outside of the city is because the cheapest house in Boston goes for like $800k. Suburbs it is!
“While there has been a long-perpetuated myth that millennials don’t want to buy homes, the reality is that the desire to become a homebuyer still exists — the timing has just been delayed.”
It’s not a myth that we don’t want to buy homes, we just straight up can’t afford to do so. Semantics though. Ask any millennial why they might not want to buy a house though? Well whats the No. 1 thing thats set back an entire generation? Huge, crippling student loans debt.
So even if I could afford to buy a house why would I jump right back into another 30 year repayment plan? We’re all a little skeptical of getting on the books for another pipe dream. I can live the American dream just fine from my 2-bedroom apartment plus I can leave that place in 12 months or less at the drop of a hat.