In the aftermath of the 2008 recession, boomer parents were besieged by millennial children boomeranging home to reclaim an old bedroom. Now our adult children are leaving the nest once again as they find work and perhaps a significant other. But where are they moving? And are the making the leap to homeowner?
For decades, after a sojourn in the city, young adults typically headed to suburbia with their growing families for a better lifestyle. However, while millennials flocked to the big city for school, internships and work, they have remained, even as they edge into their 30s. This generation is “stuck in place” in New York, Los Angeles and Chicago, according to a Wall Street Journal analysis of recent housing trends. (The Washington, D.C., metro area also saw a surge postrecession, according to another survey.)