Studies reveal that a large segment of Millennials want to live in close-in urban neighborhoods, most of which are relatively expensive to live in.
The Urban Land Institute quotes housing economist Jed Kolko describing the phenomenon called The Millennial Mismatch, “Millennials can afford markets where they don’t live, but they can’t afford many of the markets where they do live.”
One architect/developer working in the Miami office of East End Capital, a Millennial himself, conceived the idea of developing “a group of flexible, two-unit urban townhouses in an upward trending close-in area,” the Urban Land Institute reports.
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