Thanks, Millennials: L.A.'s Population Tops 4 Million for the First Time (Los Angeles: real estate, renter)

[jm1982]

Originally Posted by highlanderfil

Your sarcasm is misplaced and contradictory. If you truly believe millennials would prefer single family homes (of which you offer no evidence, just an opinion), cities aren't where the majority of them are found.

Plenty in L.A

So you think a millennial moving to Echo Park would prefer to rent an apartment over living in a house if they had the same choice ? Really ?

Also not all millennials are single without kids

[bruhms]

maybe they meant latino immigrants cause there still a lot of fertile latinos here

[jm1982]

Millennials Prefer Single-Family Homes Too | Realtor Magazine

[Cream1]

JM dropping truth bombs in this thread.

[jm1982]

Originally Posted by Howiester

JM dropping truth bombs in this thread.

People can't handle the truth.

Dennis Romero of the L.A Weekly has a certain style of writing that is more entertainment over actual news.


Some of his other work here :
Dennis Romero | Los Angeles News and Events | LA Weekly

It doesn't seem like he does much research

[PDF]

This feels like a historical milestone, population going over 4 million.

[highlanderfil]

Originally Posted by jm1982

Plenty in L.A

So you think a millennial moving to Echo Park would prefer to rent an apartment over living in a house if they had the same choice ? Really ?

Also not all millennials are single without kids

I don't happen to be so arrogant as to think that I know what any random millennial might want. Your scenario is narrowly construed, but I can answer - if I was moving specifically to Echo Park, I would definitely want an apartment as most houses in EP are old and lack the amenities I would probably want. Yet some others may want houses. Some may want apartments. Surveys tend to support urban living preferences. But that's not the point. The majority of single family homes are NOT located in an urban environment. Even those that you think are, in L.A., are still not in the middle of the city and require driving rather than walking to get to essential shopping, dining and entertainment. There's a reason for that. Most single home purchasers are families who want a safe place (away from the roads) to raise children or a quieter environment than an apartment or town house, which, again, points to suburbia.

[highlanderfil]

Originally Posted by jm1982

Millennials Prefer Single-Family Homes Too | Realtor Magazine

That article is a classic example of making the numbers fit your argument. Allow me to demonstrate:

millennial home owners aged 25-34 today are found to be more likely to reside in a single-family home than their predecessors

Great. What does that tell me about their likelihood to reside in purchased apartments, rather than where their predecessors lived? If 10% of millennials bought houses and 90% bought apartments before and now the numbers are 20% and 80%, the statement is still valid but meaningless because 90% and 80% are greater than 10% and 20%.

millennial renters are roughly as likely to occupy a single-family home as the preceding generation

Same thing.

What's more, 90 percent of 25-34 year-olds who purchased a home recently chose a single-family residence.

Also makes perfect sense but again does not address how many people that represents. 9 out of 10 is 90%, but so what? Buying a house is a much better investment than an apartment anyways - for reasons that have nothing to do with millennials (who are certainly not so dumb as not to see an investment opportunity).

What would make for a more compelling study of millennials' residential preferences would be a comparison of renting apartments vs. buying houses, holding for income levels.

[highlanderfil]

Originally Posted by Catlady1234

I find millennials annoying. My Generation X sh*s on these millennials. Our music was better as well.

I will make sure to never set foot on your lawn, I promise.

[jm1982]

So all the apartments in EP are going to be new and have tons of 'amenities' ? I see a lot of run down apartment buildings there too..

L.A isn't the type of city with a centralized downtown though . We have a downtown area (DTLA) , but even though it's urban, walkable, many don't consider that the 'center of the city' .

Pretty much every neighborhood in L.A is going to have apartments and single family homes for the most part.

You could pick pretty much any neighborhood and have the option of a house or apartment and have the option of walking to get to essential shopping, dining and entertainment.

Which parts of L.A are you thinking of where you can't find single family homes about the same distance from amenities as apartment units?.. Besides DTLA which has a population which is a tiny percentage of the total city population.