Posts Tagged ‘wall street journal’

Gen Y and Rural Living: A natural fit.

December 10th, 2009

Gwendolyn Bounds’ article in the Wall Street Journal titled “Green Acres Is the Place to Be” highlighted a small but hopefully growing trend of young people who are moving to rural places.  I spotlighted Bound’s article here, and I’ve been wondering ever since, “What is really going on here?  What is it that is attracting Gen Y to rural places?  (Note: Bounds’ article focuses on urban residents called “ruralpolitans” who move to rural places, but young people appear to be a major focus of those currently moving. )

First and foremost, we need to recognize that the ruralpolitans Bounds describes are moving to rural places because they sense an opportunity for them. Brandon Peaks speaks directly to this issue in the last paragraph of the WSJ article:

“I can’t tell you how many people at work say, ‘Man, I’d like to do that,’ “Mr. Peak says.  “Everybody is looking for the next opportunity for hope.”

Peaks, an Intel Corp technician in Phoenix, sees opportunity in working with his parents on a dairy operation they recently purchased in Missouri.  It means he will escape the uncertainty of the job market in his industry, and will enable him to move from a city that has seen a major housing market collapse. (Admittedly, most of us Midwesterners probably see dairy farming a risky venture with milk prices as low as they are, but at least Peaks will be able to see his wife and children on a regular basis, something that doesn’t currently happen.)

Other rural transplants see different types of opportunities:

It is easy for urban dwellers to see these opportunities when the urban economy has tanked. Losing one’s life savings and seeing the housing market crash have a funny way of doing that. But I think it goes deeper.  Why is it specifically that Gen Y is recognizing opportunities in rural places?  To answer that I think we have to look at what experts have to say about Gen Y. 

Characteristics of Gen Y

There’s no shortage of social commentators who have created their own lists of Gen Y characteristics.  I’ve written about them myself on several occasions.  (See here and here as examples.)    What I’ve attempted below is to connect these characteristics to why people of this generation might be moving to rural places. 

Looking at the trend in this way suggests to me that the movement is about more than just a reaction to the economy.  The economy may have encouraged young people to rethink their future, but the opportunities in rural places that are attractive to Gen Y have always been there.  Perhaps they just weren’t looking. 

 

Other Resources about Gen Y

Photo Credit:  newagecrap - Flickr

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Posted in Community Development, Economic Development, Housing, In the News, Rural | Comments (3)

Housing crisis catches up to rural

May 13th, 2009

The Wall Street Journal recently put a face on the housing foreclosure problems confronting rural residents in Minnesota. Nestled into this human interest story are some interesting (and unfortunate) statistics that suggest more attention to this crisis in rural places is warranted.  

For instance, foreclosures outside of the Minnesota/St. Paul region of Minnesota have increased by 232% since 2005. 

Also, home values in rural communities have dropped 13% since their peak.  Although this decline is less severe than urban/suburban areas (23%), one must consider another compelling statistic: rural values only increased 45% from 2000-2006, while urban home values increased a whopping 84%.

Get a feel for the reasons rural residents are losing their home by reading this story, titled “Foreclosure Trouble Spreads to Those Who Bet the Farm“.

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Posted in Housing, In the News, Rural | Comments (0)