American cities are experiencing a new injection of life brought on by younger workers flocking to the city in unprecedented rates driven by everything from job growth to the decision to wait longer to have children. Wall Street Journal staffer Laura Kusisto takes a look at this trend, which is boosting urban house values but also pushing out lower-wage employees.
This growth in people moving to the cities is not just occurring in coastal cities but all over the map:
In fact, the growth in urban wealth was apparent in all 26 cities included in a recent study of U.S. Census data by Jed Kolko, a senior fellow at the Terner Center for Housing Innovation at the University of California, Berkeley. Mr. Kolko’s analysis begins in 2000, a period that includes the entire housing boom, bust and recovery.