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☆ Meet the HIFIs: High-income earners who feel financially insecure but can't quit their luxury spending
▼ + stars: | 2024-05-17 | by ( Allie Kelly | ) www.businessinsider.com time to read: +1 min

HIFIs are people who are high income, financially insecure. They're predominantly made up of millennials and Gen Zers who want to exude wealth. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . People who fall into this category are HIFIs, individuals who are high income, financially insecure. They're predominantly made up of millennials and Gen Zers, per Sherwood News, who want to exude "old money" or "quiet luxury" but who are struggling to keep up with their lifestyle creep.

Persons: Gen Zers, — Organizations: Service, Sherwood News, DINKs Locations: millennials, Sherwood

☆ We're DINKs in Austin who are waiting until we make $350,000 to have kids. Maintaining our lifestyle as parents is a priority.
▼ + stars: | 2024-05-15 | by ( Katherine Stinson | ) www.businessinsider.com time to read: +4 min

Read previewThis as-told-to essay is based on a conversation with Matthew Bennett, a 25-year-old mining equipment brokerage representative in Austin. We were able to afford a luxury trip for our 2nd anniversaryWe've been contemplating moving to California in the future, so I planned a trip to Los Angeles to celebrate our two-year wedding anniversary. It was our first luxury trip as a married couple, and we stayed in four-star hotels, rented a luxury car to drive, and enjoyed fine dining at upscale restaurants. Although we're paying significantly more in rent, it's worth every penny for the experiences we've had so far in Austin. AdvertisementWe have one other goal before we have kids: To open a coffee shop.

Persons: —, Matthew Bennett, Brooke, We've, we've, DINK Organizations: Service, Business, BMW, Saab, Toyota Corolla, Rover Locations: Austin, California, Los Angeles, San Antonio

☆ Don't call them DINKs. Many childfree adults are ALICEs, living paycheck to paycheck without government assistance
▼ + stars: | 2024-05-14 | by ( Allie Kelly | ) www.businessinsider.com time to read: +5 min

A growing number of child-free adults, however, are falling through the cracks of the US economy. Many low-income childfree adults fall into the ALICE category — people who are asset-limited, income-constrained, and employed. The majority of these adults don't receive any state or federal rental assistance. AdvertisementMany Social Security and Medicare programs also primarily offer assistance to older adults, excluding adults under 62. He suggested expanding the Earned Income Tax Credit to benefit more adults without children, along with removing the extra qualifications childfree adults must meet to access SNAP benefits.

Persons: —, childfree, Robert Greenstein, Greenstein Organizations: Service, Business, Brookings Institution, Brookings, The Hamilton, Security, SNAP, Social Security Locations: Brookings

☆ OpenAI may have finally cracked the code on voice interactions with AI
▼ + stars: | 2024-05-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, everyone's talking — literally — about the big update for OpenAI's ChatGPT that could make your job a lot easier . AdvertisementOpenAI may have finally cracked the code on voice interactions with AI, though. OpenAI says GPT-4o's average response to audio inputs is 320 milliseconds, which is on par with a typical human-to-human conversation. "They've essentially made text input almost be the barbaric form of communicating with ChatGPT (or any AI) now," the developer said. ChatGPT, Tyler Le/BIOpenAI's big reveal shows the shockwaves the startup keeps sending through the tech world.

Persons: —, Here's, ChatGPT Holger Scheibe, Tyler Le, OpenAI, Alex Bitter, They've, ChatGPT, Katie Notopoulos, Siri, it's, Apple that's, Andrew Burton, Justin Sullivan, Rebecca Zisser, Tim Cook's, Tesla, Mark Zuckerberg, he's, Nathan Congleton, Melinda, Gates, French Gates, she'd, Melinda Gates, Bill Gates, Doug McMillon, It's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Teen, Business, HAL, Hollywood, Apple, Apple's Worldwide, Conference, GPT, Google, Microsoft, Washington, Getty, Tesla, Melinda Gates Foundation, University of Arkansas, Depot, Sony, Disney, Cannes Locations: NBCU, New York, London

☆ Meet the millennials who suddenly doubled their wealth in the last 4 years after an adulthood plagued by bad economic luck
▼ + stars: | 2024-05-11 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +11 min

"So looking at even a $150,000 price tag for a house, you're just like, when is that ever going to happen?" In the fourth quarter of 2019, millennials held $3.5 trillion in real estate wealth; as of the fourth quarter of 2023, that's more than doubled. Average millennial wealth doubled between 2019 and 2023, according to an analysis from the Center for American Progress. For example, Gen Xers' real wealth grew by only 4% in the four years following 2007's Great Recession. Baby boomers' real wealth grew by 46% in the four years after the 1990 recession.

Persons: —, James Barnes, Barnes, you'd, millennials, Khary, Gen Xers, boomers, Joe Biden, Biden, didn't, Amanda, Rob Gruijters, They're, there's, Caitlin de Oliveira, she's Organizations: Service, Navy, BI, Center for American Progress, University of Cambridge, Research Locations: Lawrenceville , Georgia, Atlanta, Alabama, —, Texas

☆ I was a tech DINK earning over $100k a year. Our double income helped me quit my 9-to-5 — but now the glory days are over.
▼ + stars: | 2024-05-09 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +6 min

I even quit my 9-to-5 to pursue my passion for content creation. I made $40,000 in revenue from content creation in 2022 and $107,000 in 2023 before expenses. AdvertisementSince I'm not earning a stable income, we've decided to limit our spending more this year. I decided to give myself a salary of $35,000 for 2024 from my content creation business. As content creation doesn't require me to go into an office, I'm hoping to build a flexible career that I can continue around raising a kid.

Persons: —, Natalie Fischer, Keldon, now's, we've, There's, Roth, I'm, DINK, We've, He's, we're, haven't Organizations: Service, Business, UGC Locations: Washington, Seattle, pomeranian, Rome, Mexico, Finland

☆ Life Time fitness leans into pickleball with Lululemon partnership, new courts and more
▼ + stars: | 2024-05-07 | by ( Jessica Golden | ) www.cnbc.com time to read: +1 min

Life Time fitness is all in on pickleball. It is all part of the upscale fitness company's strategy to grow its brand by investing in pickleball. To continue that goal, Life Time on Tuesday announced it is teaming up with Lululemon , naming the company as an official apparel partner of Life Time pickleball and tennis. The relationship includes selling Lululemon apparel online at Life Time clubs, in addition to collaborating on key pickleball events. Life Time CEO and founder Bahram Akradi, an avid pickleball player himself, is betting that the hot, tennis-like sport will be that catalyst.

Persons: Ben Johns, Anna Bright, Andre Agassi, Celeste Burgoyne, Bahram Akradi Organizations: Penn Locations: Madison, New York City, pickleball, Americas

☆ Millennials are a lot better off financially than you may realize
▼ + stars: | 2024-04-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at how millennials have seen their wealth explode over the past few years. Millennials, the oft-maligned generation , are a lot better off financially than you might realize. A new report found millennials saw their wealth double from the end of 2019 through 2023, writes BI's Juliana Kaplan. Whatever the case, millennials' wealth can keep growing. The Department of Justice is investigating the consultancy for its past work advising opioid companies about how to boost their sales , The Wall Street Journal reported on Wednesday.

Persons: —, Iurii Garmash, Tyler Le, millennials, BI's Juliana Kaplan, Harry Potter fanfiction didn't, Millennials, Gen Xers, eyeing, Juliana Kaplan, Gen, Chelsea Jia Feng, Jamie Dimon, Devin Nunes, Mark Zuckerberg, they've, There's, Nathan Congleton, Blackstone, Donald Trump's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Studio, Getty, millennials, Slaven, The New York Times, Nvidia, Trump Media, House Republicans, Meta, Green, Getty Images Google, Apollo, KKR, Justice, Street, Wednesday, McKinsey, NFL, US Locations: That's, Chelsea, premarket, NBCU, New York, London

☆ Who are the HENRYs? Charts show who makes more than $200,000 and how they earn it
▼ + stars: | 2024-03-30 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

Unlike many older Americans with a higher net worth, these workers are what's called "HENRYs" — high earners, not rich yet. Most HENRYs are ages 40 to 49, although an impressive 5.3% are ages 20 to 29. Credit card balances keep reaching record highs, and Fortune found that American cardholders have, on average, $5,733 in credit card balances. Like other consumers, HENRYs carry some credit card debt, and just under half have credit card balances. Even so, HENRYs tend to earn their money the same way as most Americans: They work a job that earns wages.

Persons: —, HENRY, Gen Xers, HENRYs, BI's Noah Sheidlower, DINKS, Fortune Organizations: Service, Business, Consumer Finances

☆ I'm a Gen Z mom. DINKs showing off their splurging and traveling gave me FOMO, but I don't regret having kids.
▼ + stars: | 2024-03-29 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +6 min

He really wanted kids but said it was fine if I didn't, as he loved me and just wanted to be with me. I thought having a family with him would be amazing. I don't think we would have planned far ahead enough to do a trip like that before having kids. I don't regret having kids youngI really enjoy being a mom. I didn't want to get to a point in my career where I was doing really well and then take a big break.

Persons: —, Megan Pagel, Michael, DINK —, Pagel, Covid, it's, I'm, DINK, I'd, I've Organizations: Service, Business Locations: Tasmania, Australia

☆ The dark side of DINKs: People who want kids but can't afford them
▼ + stars: | 2024-03-16 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +12 min

Some DINKs are using their higher net worth to retire early, travel, and afford luxury items. But there's an even darker side to DINKs: The slice that forgoes kids not by choice but out of necessity. It's difficult to parse out the exact number of Americans who might want kids but can't have them. We know that the childfree group — people who don't want kids — might be about 20% of the US adult population. It's contributing to a whole population of DINKs who can't afford to shed the moniker.

Persons: DINK, —, you've, Gen Zers, it's, Kimberly Palmer, Kathryn Edwards, Larry Bienz, he's, Bienz, civically, let's, Amelia, Kevin, They've, We're, Amelia's, Roe, Wade, Zachary Neal, Neal, Jennifer Neal, Priscilla Davies, she's, Davies, They're Organizations: Service, Harris, RAND Corporation, American Society for Reproductive, US Children's Bureau, Michigan State Locations: NerdWallet, DINKs, Chicago, Michigan

☆ Gen Zers want you to know they are sick of extravagant influencer brand trips
▼ + stars: | 2024-03-06 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +7 min

Gen Z is growing disinterested in the extravagant brand trips influencers are sent on. The generation that has grown up with social media says the lavish lifestyles of the internet's rich and famous no longer thrill them. Tarte brand trips are famed in the influencer worldFor years, brand trips have been a way to solidify a company's name among the young people who watch YouTube and scroll TikTok and Instagram. Varbanova said there are some young people — mostly millennials and DINKs — who still see over-the-top, out-of-touch brand trips as aspirational. If Gen Z's spending money is the goal, brand trips are missing the mark.

Persons: influencers, Katya Varbanova, Maureen Kelly, Tarte, Bora, Shein, Tahrea Sherman, Sherman, Phil Treagus, Evans, Influencers, Varbanova, It's, DINKs —, Rather, she'd Organizations: Service, YouTube, Walmart, Giraffe Social Media, BI Locations: Bora Bora, China

☆ Meet a millennial DINK who feels like an outlier in a child-centric world
▼ + stars: | 2024-03-02 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +7 min

None of that was true for her, but today she is part of a double-income, no-kids — or DINK — couple. AdvertisementWhile Michelle and her spouse's parents have been supportive, the couple still feels the weight of a culture that's oriented around having kids. There's also a familiar refrain — one that many DINKs come up against — that it's a selfish decision to forego having kids. AdvertisementShe thinks that being a DINK, and opting into it as a lifestyle choice, needs to be more normalized. Are you a DINK or someone grappling with the realities of a child-centric world?

Persons: Michelle, DINK, —, Michelle didn't, DINK —, They've, She's, it's, Zachary P, Neal, Jennifer Watling Neal, childfree, There's, they're Organizations: Service Locations: DINKs, North Carolina, Europe, Orlando, NerdWallet

☆ Meet the DIPS parents: Double Income, Public School. They've got it better than the POLKs, or Parents of Little Kids.
▼ + stars: | 2024-02-25 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +6 min

But the double whammy of housing plus childcare costs doesn't hit all parents — just parents of very young kids. However, after-school programs or an afternoon babysitter are typically a fraction of the cost of full-time day care.) I propose we call them: DIPS, or Double Income, Public School. For example, Massachusetts has the highest average childcare costs, where day care for an infant is $24,472. I'm stuck in between — one kid in public school and a younger one still in day care.

Persons: —, Alcynna Lloyd, Lloyd, Zillow, it's, I'm, Rich, Stanley, you'll, they'll, POLK Organizations: Service, Business, Public School, Kids, Nationwide Locations: Los Angeles, San Diego, California, Massachusetts, Iowa, In Massachusetts

☆ Millennials having fewer kids could be a drag on the economy for the next decade
▼ + stars: | 2024-02-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

At the current trajectory, that's set to weigh on the economy for the next decade or more. AdvertisementMillennials aren't having as many kids as previous generations, and that fact could end up dragging down economic growth for more than a decade. "What you're talking about is these birth rates dropping very, very low levels, which over the course of time has huge impacts on the economy," Pomeroy said. The impact of millennials having fewer kids will likely be worse than the impact of aging boomers — and the most dire consequences could come 10-15 years from now, Pomeroy estimated. The most important thing to encourage people to have more kids might be a cultural shift in how we talk about children, Buchholz says.

Persons: Millennials, —, James Pomeroy, Pomeroy, Todd Buchholz, …, boomers, Buchholz, That's, DINK, " Buchholz, it's Organizations: Service, Centers for Disease Control, White House, Medicare, Social Security, CNBC, Sony PlayStation Locations: China, Japan, Russia

☆ Sorry, parents: The American dream is only for DINKS
▼ + stars: | 2024-02-21 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +5 min

Zillow determined that a family earning a median household income of $6,640 per month can expect to allocate $1,984 of that to childcare. It all adds up to a costly reality that's making the American dream of homeownership seem farther out of reach for parents than ever before. Based on the study, a new buyer household in the United States, making the median income, would spend 30% of it on housing. The upshot: Another group, less encumbered financially, appears better poised to realize the dream of homeownership: "DINKS," an acronym that stands for "dual income, no kids." "I paid $1,750 for rent in a crappy little apartment in California," Crossan told BI earlier this year.

Persons: —, Zillow, DINKS, Elizabeth Johnson, Johnson, Bartie Scott, Juliana Kaplan, Janelle Crossan, Crossan, Pengyu Cheng, Cheng Pengyu Cheng, Cheng Organizations: Service, US Department of Labor, Federal, Consumer Locations: Women’s, Los Angeles, San Diego, United States, Swiss, snorkeled, Hawaii, Canada, New Braunfels , Texas, Costa Mesa , California, California, Austin , Texas, Texas, San Francisco

☆ We're DINKs who make $190k a year and work from home. Here's what our typical Costco haul looks like.
▼ + stars: | 2024-02-20 | by ( Jacqueline Gualtieri | ) www.businessinsider.com time to read: +9 min

Here's what my partner and I usually get for $350 in our high-cost-of-living California city. AdvertisementWe usually pick up variety packs of Poppi, which contain prebiotics for gut health and have fewer calories and added sugars than most sodas. There are few places to grab bagels around my home now, so the bagels at Costco are a decent replacement. Instead of using cream cheese, I put Laughing Cow spreadable cheese on my bagel, preferably the light option if Costco has it. It's a good substitute for unhealthier snacks, and a pack of 60 only costs us about $10 at Costco.

Persons: —, we're DINKs, Jacqueline Gualtieri, we're, Ade kombucha, Costco's, Caesar, Costco Jacqueline Gualtieri, Gualtieri, We've, Kirkland Organizations: Service, Area, Business, Costco, Del Real Foods, Kirkland Locations: Central Coast, Monterey, California, Del Real, Italian

☆ Meet a millennial DINK who's been able to buy 2 boats and a convertible: 'You couldn't ask for a better life'
▼ + stars: | 2024-02-17 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

When Tiffany Wasiuk, 42, heard from her now-husband on their first date that he never wanted children, she was pretty much ready to marry him. “That was amazing that we actually met, and I found someone that never wanted children as well,” she said. The lifestyle choice has also meant a level of financial stability and preparedness that’s become a hallmark of DINKs. “And I know not having children has contributed largely to that expense.”AdvertisementLike many other DINKs, Wasiuk and her husband enjoy traveling. Her parents also had a boat at the marina, and they were able to join Wasiuk and her husband for boating adventures.

Persons: Tiffany Wasiuk, DINK, “, ”, —, who’s, that’s, that's, They've, I'm, Wasiuk, they’ve, we've, she’s, we'll, haven’t, It's Organizations: Service, Business, Consumer Finances, Wasiuk, Research Locations: Virginia Beach, Caribbean, Virginia

☆ The 10 big US cities with the worst 'singles tax' on renters living alone
▼ + stars: | 2024-02-14 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +5 min

The "singles tax" for solo renters has increased to an annual average of $7,110. New York City has the highest singles tax among major cities analyzed in a recent Zillow analysis. Zillow crunched the numbers on what's called the "singles tax," or how much more singles are paying to live alone without a partner or a roommate. AdvertisementZillow published what the singles tax looks like in several major cities. As seen in the table below, some of the places with high singles tax are also places where it's already costly to live.

Persons: Emily McDonald, —, valentine, Zillow, what's, McDonald, it's, haven't, It's Organizations: New, Service, New York, San Francisco Locations: New York City, York

☆ There's still time to plan next weekend's travel
▼ + stars: | 2024-02-10 | by ( Joi-Marie Mckenzie | Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . I'm Joi-Marie McKenzie, the editor in chief of Life at Business Insider and your new Saturday anchor. Emily HartDispatchThere's still time to plan next weekend's travelRaise your hand if you're taking advantage of the upcoming Presidents’ Day weekend. If you’re like me and forgot to plan an amazing three-day vacation, don’t worry.

Persons: —, I'm Joi, Marie McKenzie, Let's, Emily Hart, There's, There’s, it’s, Richard Chance, Anthony Farrer, Farrer, Reed Hoffmann, Ed Zurga, RJ Sangosti, Rebecca Zisser, Taylor Swift, Swift, Andrea Chronopoulos, DINK, Tyler Le, John Goodman, Goodman, Dan Conner, Roseanne, ”, Walter Sobchak, he’d, Coen, Gilles Mingasson, Peacock, Adrienn Szabo, Abbott, Quinta Brunson's, dino, Joi, Dan DeFrancesco, Jordan Parker Erb Organizations: Business, Service, ’, Amtrak, MediaNews, Kansas City Chiefs, Super, Polygram, Entertainment, Universal Pictures, Circle Films, Paramount, Hulu Locations: Florida, Alaska, St, Lucia, Amtrak’s, American, New York

☆ The job market for startups and Big Tech is in a weird spot
▼ + stars: | 2024-02-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The big storyCareer makersInflection AI, Maven, Forage, The GrandWhich startup would you recommend a friend or family member should work at? That was the prompt for Business Insider's VC and startups team as it compiled a list of early-stage companies to bet your career on . The list doesn't have specific parameters, Leena Rao, the deputy editor of BI's VC and startups team, told me. With so much money pouring into AI startups, founders' attention will naturally be drawn to the tech when thinking about their next project. Meanwhile, the volatility among startups comes at a time of broader instability for the tech industry.

Persons: —, Elon Musk, Taylor Swift, Leena Rao, Maven, Alyssa Powell, Ben Bergman, there's, Moody's, Paul Tudor Jones, We've, Jenny Chang, Rodriguez, OpenAI, Samantha Stokes, Andrea Chronopoulos, Bob Iger, Lachlan Murdoch, David Zaslav, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, Business Insider's, Big Tech, Meta, Flagstar Bank, Facebook, YouTube, Google, BI, ESPN, Warner Bros, Fox, Walt Disney Company Locations: NYCB, New York, London

☆ DINKs, Couples With No Kids, Are Living the New American Dream
▼ + stars: | 2024-02-07 | by ( Juliana Kaplan | Bartie Scott | ) www.businessinsider.com time to read: +12 min

DINKs are proudly emerging as an aspirational class for young people — and they're ready to live it up. So when she set up her dating profile, Johnson included in her bio that she didn't want to have kids of her own. Amy Blackstone, the author of the 2019 book " Childfree by Choice ," said that the financial gap between DINKs and couples with kids wasn't solely because of the choice about children. DINKs, GINKs, " rich aunties ," and DINKWADs — DINKs with a dog — have become aspirational identities for younger generations. There are the DINKs who can seize the American dream and the parents who are struggling to stay afloat in a country without guaranteed paid leave or affordable childcare .

Persons: Elizabeth Johnson, Johnson, DINK, DINKs, they've, there's, Amy Blackstone, it's, Alex Killingsworth, Killingsworth, Marcia Drut, Davis, Drut, Blackstone, she'd, Gen Z, That's, X didn't, Zachary P, Neal, Jennifer Watling Neal, millennials —, I've, Marcia, she's Organizations: of, Johnsons, Minneapolis townhome, Federal, Consumer Finances, Broadway Locations: Florida, Swiss, Hawaii, Oregon, Canada, Alaska, Dominican Republic, of America, Minneapolis, Texas, New York, Michigan, Drut

☆ DINKs in their 50s who are on track to retire early explain what being childfree has meant for their lifestyle and finances
▼ + stars: | 2024-01-30 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +6 min

They didn't necessarily set out to become DINKs, but it's a lifestyle that's worked well. AdvertisementWendy and Steve Thomas didn't necessarily set out to be DINKs, but it's a lifestyle that's worked out for them. Wendy Thomas, 55, and Steve Thomas, 51, are a California-based couple in a growing legion of Americans who are DINKS — households that are double income, with no kids. It's a lifestyle they "fell into," according to Steve Thomas, who works in the golf maintenance industry. AdvertisementAnd the couple isn't out proselytizing the DINK lifestyle, although it can elicit a lot of questions from strangers.

Persons: Wendy, Steve Thomas, that's, —, Steve Thomas didn't, Wendy Thomas, They've, DINK, she's, Steve, they're, Gen, Zers, DINKs, there's, it's Organizations: Service, redwoods, Census Bureau, Federal Reserve's Survey, Consumer Finances Locations: California, Southern California

☆ Meet a millennial DINK who's grateful for the flexibility of a childfree lifestyle during a medical crisis
▼ + stars: | 2024-01-28 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

He and his partner chose a wait-and-see approach to having kids. Now dealing with personal hardship, Bernard is grateful a child doesn't have to deal with it, too. From a financial standpoint, being a DINK has meant flexibility — and the ability to spoil his dog "big time." "It's like saving lots of money, a kid versus dog day care, just on a purely financial perspective," he said. Advertisement"This whole experience has made me honestly more grateful to be a DINK than ever," Bernard said.

Persons: Bernard, —, DINK, DINKs, there's, that's, he'd, I've, I'd Organizations: Service

☆ Millennials Are Being Forced Out of Cities and Into Suburbs
▼ + stars: | 2024-01-08 | by ( Eliza Relman | ) www.businessinsider.com time to read: +12 min

Millennial homebuyers aren't just leaving the urban core — they're moving to the farthest reaches of the suburbs. The 'youthification' of cities and far-flung suburbsFor nearly two decades millennials morphed dense, amenity-rich urban neighborhoods across America into exclusive playgrounds for the young and childless. Compared with Gen Xers and baby boomers, a much larger share of millennials moved to cities in their young adulthood — and stayed for longer. The pandemic only steepened a trend that's been ousting millennials from cities for years: rising housing costs in cities. Millennials could help transform suburban sprawl into town-like communities or small cities with more third places and a stronger sense of community, Panova says.

Persons: Jandra Sutton, Sutton, they're, pricey, they'll, Gen Xers, millennials, —, Millennials, — it's, Zers, Allison Levine, Tiffany Stuart, — Stuart, Stuart, Hyojung Lee, Lee, who's, John Natale, Rafay Qamar, didn't, Qamar, We've, Paul Stout, Stout, Tayana, Panova, Levine, Eliza Reman Organizations: bodega, Suburban Jungle, Harvard's, for Housing Studies, Seoul National University, New York City, Suburban, Business Insider's Locations: Tennessee, Nashville, America, San Francisco, Boston, Salt Lake City, Seattle, Austin, Denver, New York City, New Jersey, Flatbush, Wall Township , New Jersey, exurbs, New York, Chicago, Black, walkable, Sutton's

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