The city of Boston decided the best way to keep Millennials from driving up housing prices is to give them their own towns.
According to TIME, a new report from a Massachusetts Senate committee proposes “Millennial Villages” to prevent such individuals from taking housing units meant for budding families.
The report states “between 2000 and 2008-2012,” people aged 20 to 34 were responsible for 73.9 percent of the population increase that occurred in the Boston, Cambridge and Somerville areas.
Millennials apparently have a habit of cramming themselves into multi-bedroom homes formerly used by working families or simply smaller groups of people.
The report says:
Not only has this driven up the price of triple decker units by 95 percent between 2009 and 2015, rents continue to rise sharply under this demand pressure. As a result, families in Greater Boston are being priced out of the rental market and cannot afford to buy into the condominium market in the older housing stock.
Video – Meet the Millennial Who Represents 1.8 Billion Young People [INSIGHTS] | Elite Daily
https://youtu.be/ixw6-JzRRBQ
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By Sean Levinson, EliteDaily, SouthFloridaReporter.com, Mar. 16, 2016
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