Alan J. Heavens, the real estate writer for the Philadelphia Inquirer, on the likelihood that millennials will soon begin abandoning the city for homes in the suburbs--just like their parents did.
Millennials have been singled out as the stuff cities are made of, but Dowell Myers, a professor at the University of Southern California's Price School of Public Policy, says the real estate industry should be bracing for a shift back to suburbs.
In fact, Myers says, 2015 marked a major turning point, as the country's urban centers reached "peak" millennial.
After more than a decade of growing concentration, the millennial trend of increased downtown living has peaked and is beginning to decline, he contends.
Myers, however, found that circumstance was the likely driver of urban living: Three cycles - one demographic, one economic, and one housing-based - converged in the 2000s to drive millennials into downtowns.