The Bureau of Labor Statistics recently published a report on the demographics of 29-year olds living in the United States. Atlantic staffer Derek Thompson takes a look at the average 29-year old, who did not finish college, has held several jobs, and is more likely to live outside of a dense urban area.
The number of Americans likely to own a home in America has fallen and that is no different for this age group and those that do are being pushed out of cities:
Today, just 35 percent of 29-year-olds are homeowners. Although the Millennial stereotype assumes otherwise, they’re not all clustering in dense urban neighborhoods. A combination of low incomes and urban housing shortages (and perhaps an independent preference for space and sun) is pushing more of them out to the suburbs.