As they age and form families, millennials find it increasingly difficult to afford housing in urban areas.
A new episode of the Strong Towns podcast Upzoned analyzes the reasons why millennials are moving to exurbs and other non-urban places. One major factor, of course, is housing costs and the lack of affordable, available, family-friendly homes in many U.S. cities.
Abby Newsham and Chuck Marohn discuss what does this mean for exurban communities and for the millennial families moving there. For Marohn, many of these households are trapped into a very limited set of options, roped into a mortgage system that benefits from the tight market.
Marohn suggests that the housing market “needs to become more localized” and sensitive to people’s ability to pay for housing at the local level. Listen to the episode to hear more of Marohn’s perspective.
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