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Millennials

Millennials are not opting for cities

Kardas aerial

As he often does, Joel Kotkin looks past wishful thinking to the numbers: It’s an idea echoed everywhere from “Friends” to “Girls”: Young people want to live in cities. And, we’re told, a lot of them (at least the cool ones) do. It’s a common assumption. But it’s also wrong. Between 2010 and 2013, the ...

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Posted by Joe Zekas on October 20, 2014

Why is the under-35 generation renting rather than owning?

K2 pool

The US Census Bureau recently released data showing that the rate of homeownership among people under the age of 35 has been in a steady decline in the past half-dozen years. The ownership rate stood at 41.3% in the first quarter of 2008 and dipped to 35.9% in the second quarter of this year. That ...

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Posted by Joe Zekas on August 6, 2014
ChicagoDowntown / Loop

Will all the new downtown apartments find renters?

Pew Research graphic

The downtown Chicago apartment market will add a total of more than 5,000 new units this year and next year. Will all those new apartments find renters? Who knows? One thing we do know, according to a recent Pew Research report, is that the percentage of young adults living with their parents has increased sharply ...

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Posted by Joe Zekas on August 7, 2013

Millennials say suburbs are their ideal place to live

Suburban subdivision

Anyone who wants to make an intelligent case for the “death of the suburbs” needs to confront the fact that more people, including young people, prefer suburban to city living, and act in accordance with their preferences. According to a study by Frank N. Magid Associates, 43 percent of Millennials describe suburbs as their “ideal ...

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Posted by Joe Zekas on February 26, 2013