There’s nothing but good news in this report by the Urban Land Institute. Well, it’s good news if you believe that cities are the way of the future. The report paints a bleak picture for suburbia and current homeowners, but it says this about Generation Y (Millenials, Echo Boomers):

They say they want to live in urban areas; a 2008 survey by RCLCO found that 77% of Echo Boomers report wanting to live in an urban core, not in the suburbs where they grew up. They want to be close to each other, to services, to places to meet, and to work, and they would rather walk than drive. They say they are willing to live in a smaller space in order to be able to afford this lifestyle.

Makes me proud of my generation!