September 19, 2019

Millennial Urban Flight

“At the end of 2016, David Jax made a tough decision. He left his job in New York City and moved to Dallas in hopes of saving money for a down payment to buy a house. “I just hit 30, I had roommates every year since college; I was hoping this was an opportunity to get something of my own,” said Jax, who works for an advertising company.

But even when he had saved enough to buy a $250,000 home, Jax found himself out-priced in the neighborhoods he selected, all about 30 minutes from his office in uptown Dallas. “There wasn’t a single home in my price range that didn’t have holes in the roof or neighbors with trash in the yard,” he said.

His friends had the same problem. Despite their decently paying jobs, he said, they were either opting for long commutes, or renting and living with roommates while they waited for an opportunity to buy. Meanwhile, access to the kinds of food, art, and music scenes Jax had grown accustomed to in New York felt like a distant memory. “Those opportunities decreased in terms of frequency,” he said, as he continued to rent in his new city. “There truly is no place comparable to New York.””

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