U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old Today, 11:08 AM
 
Location: Washington, DC
2,935 posts, read 1,515,108 times
Reputation: 2474

Advertisements

https://www.wsj.com/articles/millenn...es-11569470460

What do you think about this? As someone who is a millennial myself who just did this in the DC area, I'd say it's true. If you're a young family, the only options we have in the cities are these new, but cheaply built "luxury" condos that are made of the crappiest materials known to man and charging over half a million dollars, or you're stuck with an old house from 1920.

I love the city, but I also like space and the room to grow into a house. Also, not going to lie, price is a factor. I rather pay for a house than a condo in a loud city if I'm having a young family.
Reply With Quote Quick reply to this message

 
Old Today, 12:03 PM
 
107 posts, read 21,362 times
Reputation: 125
Quote:
Originally Posted by sonnymarkjiz View Post
https://www.wsj.com/articles/millenn...es-11569470460

What do you think about this? As someone who is a millennial myself who just did this in the DC area, I'd say it's true. If you're a young family, the only options we have in the cities are these new, but cheaply built "luxury" condos that are made of the crappiest materials known to man and charging over half a million dollars, or you're stuck with an old house from 1920.

I love the city, but I also like space and the room to grow into a house. Also, not going to lie, price is a factor. I rather pay for a house than a condo in a loud city if I'm having a young family.
We have felt the pinch in Denver Metro. Anything in our sub-$600k price point near the urban core is either a tiny, outdated detached single family home that will eventually need work, or a new build condo/townhome with a hefty HOA that puts it out of our monthly budget.
Reply With Quote Quick reply to this message
 
Old Today, 12:10 PM
 
Location: East of Seattle since 1992, originally from SF Bay Area
30,607 posts, read 55,657,062 times
Reputation: 32404
Here in Seattle the 1920s house is over a million now. Of the millennials that I know here, several have bought farther out in the suburbs where they were able to buy for $400-500k in the last few years, and already have good equity with prices still going up faster than even in Seattle.



Supply and demand works, when the city gets too expensive and everyone looks for the cheaper homes farther out, those prices go up.
Reply With Quote Quick reply to this message
 
Old Today, 12:13 PM
 
130 posts, read 34,639 times
Reputation: 441
Once you get older and have kids, what, really, does the city have to offer? At least in the Philadelphia metro area, the suburbs are where you find some of the best school districts in the country, many of the jobs (executives live in the burbs), lower taxes, safety, and cheaper (though not cheap) hosing. Once you have kids, the walkable bars and late night party scene isn't very appealing when you're betting on a lotto system to get your kids into one of the few schools that isn't totally abysmal or stepping over junkies and homeless people as you walk down the street.
Reply With Quote Quick reply to this message
 
Old Today, 12:19 PM
 
107 posts, read 21,362 times
Reputation: 125
Quote:
Originally Posted by b-nasty View Post
Once you get older and have kids, what, really, does the city have to offer? At least in the Philadelphia metro area, the suburbs are where you find some of the best school districts in the country, many of the jobs (executives live in the burbs), lower taxes, safety, and cheaper (though not cheap) hosing. Once you have kids, the walkable bars and late night party scene isn't very appealing when you're betting on a lotto system to get your kids into one of the few schools that isn't totally abysmal or stepping over junkies and homeless people as you walk down the street.
What if you're DINKs? The suburbs are generic and bland, lacking in entertainment options for young, urban adventure-seekers.

We're also seeing a lot of empty-nesters moving back of the city after their flock has left the nest. So the city must have some appeal.
Reply With Quote Quick reply to this message
 
Old Today, 12:57 PM
 
Location: Greensboro, NC
746 posts, read 290,947 times
Reputation: 1804
Quote:
Originally Posted by iSudo View Post
What if you're DINKs? The suburbs are generic and bland, lacking in entertainment options for young, urban adventure-seekers.
Describes me and my fiance perfectly - we have no intentions of having kids and do not desire a large living space. There may be some cool suburbs, but most of them are pretty boring to us, plus they are loaded with crappy chain restaurants. I'll gladly encourage my fellow millennials to move to them, though
Reply With Quote Quick reply to this message
 
Old Today, 01:09 PM
 
Location: Tennessee
24,535 posts, read 18,267,023 times
Reputation: 28830
I'm going to spin this a bit differently.

There's a difference between leaving the city limits and and leaving the metro. I can't read the article (paywall), but I'd assume that's a lot of what's going on here.

I'm from a small town in Tennessee, but lived in Indianapolis for three years for my first "real job" after college. I was 28 then, and most everyone in the office was within five years on either side of me. The vast majority of them, aside from one guy who was married with kids, lived in the city.

Fast forward five years, most of them are at least married with quite a few more having kids, and almost all have moved to the suburbs. Best I can tell, no one really left the metro who was from there.

If you're a white collar corporate type, most jobs are in the major metros. People aren't moving from the major metros to small town Tennessee for jobs - they're going the other way, even if they might not live within the city limits.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top