Millennials heading to the suburbs
While popular belief is that cities have been the beneficiaries of a population shift in recent years, a recent US Census report showed that the share of population growth of the top 50 cities in the US slowed in 2015 to 20%, down from almost 27% in 2011, and has dropped each year since then. It appears in fact, as though millennials are heading to the suburbs.
According to the Wall Street Journal: “U.S. cities have experienced a population surge since the recession ended in 2009 as revitalized downtown cores drew millennials, empty nesters and immigrants with lower crime, pedestrian-friendly environments and job growth.
That growth is slowing as a bulge of late-20s Americans reaches prime home-buying age and high urban real-estate costs are making suburbs and exurbs more attractive, according to economists and demographers.”
And, in Marblehead’s case, new schools, history and… the ocean!
For those with a WSJ subscription here is a link to the article:Population surge in cities eases as jobs shift and suburbs call
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