Yes! Cities that provide walkable, vibrant urban environments will be well-placed to attract and retain millennials:
"We know that millennials choose downtowns over suburbs by a big percentage," said Finkle, whose Washington-based group represents economic development specialists around the world.
While cities like Cleveland, Chicago, Pittsburgh and Baltimore all lost population last decade, their downtowns have been growing, thanks largely to young professionals moving in.
A city that can attract and keep young talent, he said, is a city that will compete in the new economy.
Suddenly, downtown Cleveland is looking like a contender.
If GM is serious about appealing to Millennials, it should get into the bicycle and train business as well as cars:
Of course, Millennials are more likely than past generations to live in an urban community, and this may be part of what terrifies car markers. About 32 percent reside in cities, somewhat higher than the proportion of Generation X’ers or Baby Boomers who did when they were the same age, according to a 2009 Pew Research Center report. But as the Wall Street Journal reports, surveys have found that 88 percent want to live in an urban environment. When they’re forced to settle down in a suburb, they prefer communities like Bethesda, Maryland, or Arlington, Virginia, which feature plenty of walking distance restaurants, retail, and public transportation to nearby Washington, DC.
From my experience, solid advice. The tips definitely resonate with me. In particular:
Understand that Gen Y views career as life. Work-life integration is the new work-life balance. Gen Y is a hyper-communicative, constantly “on” generation that always expects a response and can easily transition from personal to professional at the speed of a tweet. To them, their career is life and life is their career—it’s one and the same, and this can be a great thing for your company.
Almost describes me to a t.
Two Ms - Minorities and Millennials - expected to drive growth and demand in the coming years:
“It’s a difficult time for housing,” said former Mayor Henry Cisneros, a member of the Housing Commission and former secretary of Housing and Urban Development.
But how the country responds and reshapes its housing policies will influence such issues as whether people rent or own homes in the coming decades or how well people can graduate out of subsidized housing. The big policy question, Cisneros said, is: “What’s the right structure?”
Demographics are driving everything, and it’s a bumpy road.
Most of the country’s population growth is happening in minority populations — the same groups hit the hardest by the housing downturn in terms of lost household wealth and declines in homeownership rates.
“That is where housing issues will be addressed or not addressed,” demographer Steve Murdock of Rice University said. “Hispanics are the key to this growth.”
And echo boomers — the members of another group hit hard by the recession as they’ve struggled to start careers — will be the generation driving the next wave of household formation.