For much of the past decade, business recruiters, cities and urban developers have focused on the "young and restless," the "creative class," and the so-called "yuspie" -- the young urban single professional. Cities, they've said, should capture this so-called "dream demographic" if they wish to inhabit the top tiers of the economic food chain and enjoy the fastest and most sustained growth...Here's the part that is not surprising.
Married people with children tend to be both successful and motivated, precisely the people who make economies go. They are twice as likely to be in the top 20% of income earners, according to the Census, and their incomes have been rising considerably faster than the national average.
Indeed, if you talk with recruiters and developers in the nation's fastest growing regions, you find that the critical ability to lure skilled workers, long term, lies not with bright lights and nightclubs, but with ample economic opportunities, affordable housing and family friendly communities not too distant from work. "People who come here tend to be people who have long commutes elsewhere, and who have young children," notes Pat Riley, president of Alan Tate company, a large residential brokerage in Charlotte, N.C. "They want to be somewhere where they don't miss their kids growing up because there's no time."
There is a basic truth about the geography of young, educated people. They may first migrate to cities like New York, Los Angeles, Boston or San Francisco. But they tend to flee when they enter their child-rearing years. Family-friendly metropolitan regions have seen the biggest net gains of professionals, largely because they not only attract workers, but they also retain them through their 30s and 40s. Read More.
Why haven't they figured this out already?