Are Millennials Starting to Buy Houses in the Burbs?

[checkmarq]

His real name is Art Vandelay.

+1

[SaveOD238]

In Chicago, they consider the entire Kenosha area a suburb (especially if you're a millenial).   

Kenosha and Racine are weird.  They're on one hand suburbs of larger metros (Chicago, Milwaukee, or both) but they are both cities of their own that have their own suburbs (Pleasant Prairie/Salem and Mount Pleasant/Caledonia).  They both have old downtowns by the lake, surrounded by urban neighborhoods that become more affluent the further out you go.  Both have major businesses that were/are founded and headquartered there.

I think it's because they are both sandwiched between two larger cities, but their origins are as independent communities.  It's not like Greendale or Arlington Heights, which were basically just established as places for people who worked in Milwaukee or Chicago to live.  I lived in Gurnee as a kid, and Gurnee was nothing without Chicago (in fact it was founded as a train stop between Chicago and Milwaukee).

[dgies9156]

What happens to all of the urban gentrified neighborhoods, e.g., the Bay Views, Logan Squares?  Do the Millennials move out, only to be replenished by the next batch of 24-30 year olds?

No, they are replenished by downsizing boomers looking for a smaller, more exciting place to call home.

[Galway Eagle]

No, they are replenished by downsizing boomers looking for a smaller, more exciting place to call home.

And less adventurous people from the next generation . For example Lakeview wasn't always a posh neighborhood it is now.

[Bad_Reporter]

To answer the OP's question.  Yes, I bought my first house and currently live in fox point (suburb of Mke). I am starting to look at condos downtown in Mke however. 

My biggest concern is schools in the downtown area or lack of.

[MU82]

With the standard deduction in the new tax code, for many taxpayers with a starter home, it's likely to be more advantageous to take the standard deduction. This negates the benefit of mortgage interest and taxes, given SALT.

This. And it doesn't have to be a starter home. In Charlotte and many similar cities, big homes in nice neighborhoods cost far less than starter homes do in the pricier cities. For the vast majority of homeowners in the Charlottes, St. Louises, Nashvilles, Omahas, Denvers, Austins, Columbuses, etc, etc, etc, the standard deduction will be more advantageous than any kind of tax-related homeowner benefits. Realtors are quite nervous about it.

Now, personal anecdotes time ...

My 32-year-old daughter and son-in-law live just outside of Seattle. They loved living in the city. Loved it! Took advantage of all the restaurants, bars, music venues, etc. But when it came time to buy their first house last year, they ended up buying in the burbs. I was pretty surprised. No kids yet, but they hope to start having them soon, but I think they just wanted a decent sized piece of land and a nice house for less $$ than they could get in the city. Plus, he works in a neighboring burb, so it's closer for him. Always different reasons folks choose what they do.

Meanwhile, my 31-year-old son and his new wife rent in Lincoln Square. He works in Westchester and she works in Northbrook. Yep, they both do the dreaded "reverse commute." They want to buy a condo or townhouse in the city because they love, love, love it. They also want to start a family fairly soon. It will be interesting (to me at least) to see what they end up doing.

Finally, one note about CPS ...

Even if it's true that one has to be brilliant and/or lucky to get into the good high schools, there are a lot of very good neighborhood elementary schools. I know because we chose our first house in Chicago based solely on it being in the St. Ben's neighborhood, where Bell elementary sits. It is still considered an outstanding school, and there are other highly rated ones, too. One just has to know where to look ... and be able to afford to buy in those neighborhoods. Yeah, maybe a person who lives there will eventually have to move to the burbs for high school, but that's a long way away for somebody with, say, a 3-year-old.

[Vogue 66]

My reality is that the inner-city folks or people from the inner burbs are moving to the outer burbs.  The old folks are moving out to Costa Rica, Florida, still, Arizona, Kentucky, Tennessee, and the Carolinas.
The reason for the vacuum pulling people out of the city, besides the school issue, is the availability of many affordable condos in the outer ring of suburbs.
The past election is indicative of the migration.
Now the politicians (this is not a political statement) are looking to redistrict again.  Such is the length the politicians will go to to win on demographics rather than principles. 

[MU82]

My reality is that the inner-city folks or people from the inner burbs are moving to the outer burbs.  The old folks are moving out to Costa Rica, Florida, still, Arizona, Kentucky, Tennessee, and the Carolinas.
The reason for the vacuum pulling people out of the city, besides the school issue, is the availability of many affordable condos in the outer ring of suburbs.

I don't have figures to agree or disagree with this. I will say that I have read many, many accounts of older folks moving into city centers because they love being surrounded by restaurants, theater, pro sports and other things they love to do.

Indeed, I have been trying to talk my wife into ditching our suburban house and buying within walking distance to her work and to the things we enjoy doing. My argument: Life is short; let's take advantage of all the city has to offer while we're young enough to do so. She hates the idea of moving again, and is worried about not having enough storage for our stuff (which I want to get rid of), so we'll probably stay put for the 5-8 years we have left in Charlotte.

[Vogue 66]

I don't have figures to agree or disagree with this. I will say that I have read many, many accounts of older folks moving into city centers because they love being surrounded by restaurants, theater, pro sports and other things they love to do.

Indeed, I have been trying to talk my wife into ditching our suburban house and buying within walking distance to her work and to the things we enjoy doing. My argument: Life is short; let's take advantage of all the city has to offer while we're young enough to do so. She hates the idea of moving again, and is worried about not having enough storage for our stuff (which I want to get rid of), so we'll probably stay put for the 5-8 years we have left in Charlotte.

Do you want to switch wives?  My wife is in Italy, I'm in N.J., she loves the opera, good food, nice weather, and her Italian friends and wants to dump our suburban life style.

I like my equipment, projects, English speaking friends, MU BB, real golf courses, and real cars.

Our workaround is summers in New Jersey, winters in Italy and we spend most of the winter apart.  I agree, life is short.

We started the Italy thing with an air-b-&-b, then a small apartment on a short term lease, now a larger apartment, with a garage,  on an 7 year lease, here we go again, ha. More stuff, very spiritual. 

I was on a Jesuit retreat and learned about spiritual indifference and that is what I apply to Millennials, life is too short to bother with them.

For example, my Vogue65 does not accept my password so they send me an email to the email address they have on file and connected to Vogue65.  Problem is the email address is probably 8 years old and I can't get into it.  So I have to start a new name Vogue 66 using my original password.  All brought to you be Millennials. 

I try to avoid them whenever I can.  Those that are in the suburbs are so busy with childrearing they have no time for me anyway.

NYC, the meeting ground

Morris County NJ, the breeding ground

Florida, the burial ground

[UWW2MU]

Do you want to switch wives?  My wife is in Italy, I'm in N.J., she loves the opera, good food, nice weather, and her Italian friends and wants to dump our suburban life style.

I like my equipment, projects, English speaking friends, MU BB, real golf courses, and real cars.

Our workaround is summers in New Jersey, winters in Italy and we spend most of the winter apart.  I agree, life is short.

We started the Italy thing with an air-b-&-b, then a small apartment on a short term lease, now a larger apartment, with a garage,  on an 7 year lease, here we go again, ha. More stuff, very spiritual. 

I was on a Jesuit retreat and learned about spiritual indifference and that is what I apply to Millennials, life is too short to bother with them.

For example, my Vogue65 does not accept my password so they send me an email to the email address they have on file and connected to Vogue65.  Problem is the email address is probably 8 years old and I can't get into it.  So I have to start a new name Vogue 66 using my original password.  All brought to you be Millennials. 

I try to avoid them whenever I can.  Those that are in the suburbs are so busy with childrearing they have no time for me anyway.

NYC, the meeting ground

Morris County NJ, the breeding ground

Florida, the burial ground

Maybe I've been duped, but is this post satirical in nature? 

[buckchuckler]

Do you want to switch wives?  My wife is in Italy, I'm in N.J., she loves the opera, good food, nice weather, and her Italian friends and wants to dump our suburban life style.

I like my equipment, projects, English speaking friends, MU BB, real golf courses, and real cars.

Uhhhh.  What?  Italy is the home to some of the absolute finest cars on the planet.  And while most can't afford the Ferrari's, Alfa and Maserati do make some attainable cars that are just spectacular.

Edit:  Yeah, see above post.  What he said.

[MU82]

Do you want to switch wives?  My wife is in Italy, I'm in N.J., she loves the opera, good food, nice weather, and her Italian friends and wants to dump our suburban life style.

I like my equipment, projects, English speaking friends, MU BB, real golf courses, and real cars.

Our workaround is summers in New Jersey, winters in Italy and we spend most of the winter apart.  I agree, life is short.

We started the Italy thing with an air-b-&-b, then a small apartment on a short term lease, now a larger apartment, with a garage,  on an 7 year lease, here we go again, ha. More stuff, very spiritual. 

I was on a Jesuit retreat and learned about spiritual indifference and that is what I apply to Millennials, life is too short to bother with them.

For example, my Vogue65 does not accept my password so they send me an email to the email address they have on file and connected to Vogue65.  Problem is the email address is probably 8 years old and I can't get into it.  So I have to start a new name Vogue 66 using my original password.  All brought to you be Millennials. 

I try to avoid them whenever I can.  Those that are in the suburbs are so busy with childrearing they have no time for me anyway.

NYC, the meeting ground

Morris County NJ, the breeding ground

Florida, the burial ground

Not sure what all the gibberish here was, but I'll cut right to the chase and answer the question you posed in your opening line:

No, thanks. Mrs. 82 is effen awesome.

[JWags85]

Passwords and identity protection. DAMN MILLENIALS. YOUVE GONE TOO FAR THIS TIME

[Spotcheck Billy]

For example, my Vogue65 does not accept my password so they send me an email to the email address they have on file and connected to Vogue65.  Problem is the email address is probably 8 years old and I can't get into it.  So I have to start a new name Vogue 66 using my original password.  All brought to you be Millennials. 

Once you create an online email address (Mail.com, Yahoo etc.) you don't need to change emails and lose your log-in/passwords. My email address is probably 15 years old now and I never have to bother friends to update my email address.

[GooooMarquette]

Once you create an online email address (Mail.com, Yahoo etc.) you don't need to change emails and lose your log-in/passwords. My email address is probably 15 years old now and I never have to bother friends to update my email address.

Yeah, I didn't get that part either. My personal email is about 20 years old now.

[MU Fan in Connecticut]

Once you create an online email address (Mail.com, Yahoo etc.) you don't need to change emails and lose your log-in/passwords. My email address is probably 15 years old now and I never have to bother friends to update my email address.

Mine is probably 15 years old too. 
And the SBC company hasn't existed since 2005 when they re-became AT&T. 

[Benny B]

I wonder if my Prodigy email address still works.

[HouWarrior]

They are in Brentwood, which has the best non-magnet HS in Tennessee according to USNWR.  It's also ranked higher than any non-magnet public school in the Chicago area except for Stevenson.

You've been away from your home town too long.  Those Southern stereotypes are starting to creep in.

One of my best lawyer friends in Tennessee, lived and worked in a Brentwood home/office , in the best setting I have seen in the USA . A long esplanade/driveway with its own median almost overgrown with mature trees takes one up to his antebellum, pillared 3 story home. The first floor was reception, library/conference and two offices, kitchen restrooms...all totally 19th century like scrolled woodwork...walls, floors, sculptured ceilings. The second floor had a large private retreat/billiards room opening to a balcony overlooking rolling hills. Third floor bore his living quarters.

Over time , we have gone against Avon Williams and Joe Rodgers over the Citizens Bank building and had a crazy one involving a record company specializing in gospel music...I have spent many happy hours in that Brentwood office.