Image credit: The New York Times
When city populations started swelling in the early and mid-2000s, it had less to do with the first of the millennials moving in than it did with lots of slightly older people not moving out, according to Kenneth Johnson, a demographer at the Carsey School of Public Policy at the University of New Hampshire. The presence of so many young college graduates upended many American cities. Now, however, the pressure is starting to ease. Apartment developers have responded with a boom in new construction. In 2013, the number of people moving into and out of cities started to balance out for the first time since the recession, largely because those in their 30s and 40s resumed their march to the suburbs, according to Mr. Johnson’s research.
