Photo: Frank Maurer/Flickr
Two out of three Millennials in the US would rather live in a single-family home in suburbia than reside in a major urban center, according to a recent survey from the National Association of Home Builders.
The poll, based on responses from 1,506 people born since 1977, found that 66 per cent of young people want to live in the suburbs, 24 per cent want to live in rural areas and only 10 per cent want to live in a city center.
What is drawing the youth to the ‘burbs? More space. In fact, 81 per cent of respondents said they wanted a home with three or more bedrooms. Does this mean home builders should be focusing on single-family homes rather than condos? If the results are to be taken at face value, then sure. But as the Wall Street Journal reports, the findings may be skewed:
…[the survey results] included only Millennials who first answered that they bought a home within the past three years or intended to do so in the next three years.
And that’s a limited group. In fact, only 36 per cent of homeowners in the US are 35 years of age or younger. Meanwhile, the number of young people who are renters are, according to the Journal, a large and growing group, “in part because of hefty student debt and the tight mortgage-lending standards of recent years.”
For more on the study, read the Wall Street Journal article here.