A recent report from the Urban Land Institute (ULI) flips what has become conventional wisdom about millennials on its head. For years, the thinking has been that millennials want to live in downtowns – places that afford them the "live, work, and play" lifestyle. Yet recent research indicates that millennials can't afford downtowns and are choosing cheaper city neighborhoods outside of central business districts.
The ULI writes in a press release, "Contrary to popular belief, most Millennials are not living the high life in the downtowns of large cities, but rather are living in less centrally located but more affordable neighborhoods, making ends meet with jobs for which many feel overqualified, and living with parents or roommates to save money."
Read more on
ULI's website.
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