Music to my ears…
For the first time in a century, most of America’s largest cities are growing at a faster rate than their surrounding suburbs as young adults seeking a foothold in the weak job market shun home-buying and stay put in bustling urban centers.
New 2011 census estimates released Thursday highlight the dramatic switch.
Driving the resurgence are young adults, who are delaying careers, marriage and having children amid persistently high unemployment. Burdened with college debt or toiling in temporary, lower-wage positions, they are spurning homeownership in the suburbs for shorter-term, no-strings-attached apartment living, public transit and proximity to potential jobs in larger cities.
This piece of news almost made me cry, which is something I have never done (almost cried), even for the dead in my family.
New Orleans, which saw its population shrivel in the mid-2000s due to Hurricane Katrina, saw the biggest rebound in city growth relative to suburbs in the last year, 3.7 percent vs. 0.6 percent. Atlanta, Denver, Washington, D.C., and Charlotte, N.C., also showed wide disparities in city growth compared to suburbs.
Other big cities showing faster growth compared to the previous decade include Boston, Chicago, New York, Philadelphia, Minneapolis and Seattle.
There can be no socialism without urban centralization.
Thanks goes to Bart Reynolds for the tip.
