In an effort to avoid high housing prices, more millennials are buying homes in the exurbs, reported The Wall Street Journal.
. On average, these homes are over 16 miles from central business districts — the greatest distance since 2004, Kusisto reported, citing Fannie Mae loan data.
While the housing market has slowed in America, more home sales and constructions are popping up in the exurbs, Kusisto wrote:"Rising mortgage rates and home prices, especially in urban centers, are once again motivating buyers to drive until they can afford a home, including in Dallas, Las Vegas, Atlanta, and the San Francisco Bay Area. Low gas prices help as well."
Living in what's known as a commuter town is worth the savings in a housing market that hit an all-time high in prices in 2018, according to the"If you move into town, you're going to spend your entire salary paying for a house," Josh Bush, a 29-year-old exurb resident whose 50-minute commute can turn into two hours if he hits traffic, told Kusisto.
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