Much like their parents did years ago, millennials are starting to head to the ‘burbs in a rush to buy homes, start families and put down roots.
“Americans aged about 18 to 34 have become the largest group of homebuyers, and almost half live in the suburbs,” according to Zillow Group data cited in a recent Bloomberg article.
Their quest for the American dream has spread to their cars, as well. Not only are millennials buying larger homes in the suburbs, but they’re also loading up on large SUVs to transport their growing families.
“Millennials delayed home ownership, just like they delayed getting married and having kids, but now they’re making very similar decisions to their parents,” said Svenja Gudell, chief economist for Zillow.