Young Residents Getting Priced Out Of The Metro Markets

Young Residents Getting Priced Out Of The Metro Markets

The following is an article about how younger residents are being priced out of the Metro Areas of Americas bigger cities. This is occurring in San Diego right now. This is happening suprisingly not with first home buyers under $300,000, but with home buyers in the $400,000 to $600,000 range. 

This is an excerpt from the article:

Young professionals are heading to cities and some have vowed to stay, forsaking the suburban life completely. Some suburbs have seen the number of their younger residents shrink dramatically over the past few years, and they’re trying to figure out ways to lure young professionals back, The New York Times report.

For example, some suburban towns are trying to make themselves more appealing to younger residents by constructing more affordable apartment complexes or appealing more to their lifestyle, such as with concert venues, diverse restaurants, or added bicycle lanes. Some cities near train stations are taking it as an opportunity to refresh their downtowns.

For example, Westbury, N.Y., a village of 15,000 people, is building 850 apartments – condos, co-ops, and rentals – near the train station in the hopes of attracting more younger residents. It also added a new concert venue.Suburban towns are responding after recent population reports have put their age breakdowns in perspective.

For example, Westchester, Nassau, and Suffolk, N.Y., have seen their populations of young professionals decline. Rye, N.Y., has seen a 63 percent drop in 25- to-34-year old residents and a 16 percent decrease in 35 to 44 year olds between 2000 and 2011.  Likewise, Chevy Chase, Md. – a suburb of Washington, D.C. – has lost 34 percent of its 25 to 34-year olds, and nearby Bethesda and Potomac have lost 19.2 percent and 27 percent, respectively.

Other similar declines have been noted in suburbs outside of Chicago and Boston as well.  -- “Suburbs Try to Prevent an Exodus as Young Adults Move to Cities and Stay,” The New York Times


To make sure that you get the property that you want in the area that you want it, contact me:

Philip Crocker
Lead Buyer Consultant
mySanDiegoAgent Realty Group
Keller Williams Real Estate
760.212.7222

To search homes  on my website:

To search homes on your smartphone using my mobile app:

To visit my blog regarding the 8 steps to home ownership:

CA BRE# 01131961


Colleen K. Cotter - BRE #01325265 Headshot
Author:
Phone: 619-804-6840
Dated: April 19th 2014
Views: 515
About Colleen K.: ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Best Places In Oceanside To Shop For Vintage Home Decor - When furnishing your home,
Jan 27 2017 29137 1 - Chinese Lunar New Year 2017 is
Get It Done San Diego - We all want to enhance our
What Does A Title Company Do - When you purchase a home, a title

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Colleen K. Cotter - mySanDiegoAgent Realty Group
7050 FRIARS ROAD SUITE 100
San Diego, CA
619-313-4634
619-233-5526