Posted: Jun 27, 2012 11:08 PM
WASHINGTON, DC - 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 highlight the dramatic switch.
Driving the resurgence are young adults, who are delaying careers, marriage and having children. Burdened with college debt or toiling in lower-wage positions, they are spurning homeownership in the suburbs for no-strings-attached apartment living, public transit and proximity to potential jobs in larger cities.
While economists tend to believe the city boom is temporary, that is not stopping many city planning agencies and apartment developers from seeking to boost appeal to 18-to-29-year olds. Some sociologists are calling them "generation rent."
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