Report Dispels Myths on Gen Y
A new report shows that most millennials are not living it up in large cities, but rather making conscious choices that fit with their economic circumstances. Urban Land Institute presented its findings at the organization's 2015 Spring Meeting in Houston. The report examines the effect of the Great Recession on Gen Y and how it has impacted where its members live. Findings include the fact that 21% live at home and 42% of that cohort moved back home after living on independently. For those still living on their own or with roommates, quality of life is an overriding theme as individuals prefer to live in neighborhoods with some urban characteristics. Although 50% are renters and prefer the flexibility of being able to stay or move, virtually all anticipate owning a home someday, provided it meets requirements on cost and proximity.