Still Clueless on Millennials

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It can be downright mystifying how some people attained the status of “expert.”

Maureen McAvey, the Bucksbaum Family Chair for Retail at the Urban Land Institute, was in Albuquerque yesterday for an event sponsored by her organization and NAIOP-New Mexico. She noted the Duke City’s dearth of Millennials: “The young people you have are not staying here. Jobs are always a challenge, but in lifestyle, you should be able to hit this one out of the park. I’d want to know why these young people aren’t staying here when you have a lot of assets.” After all, in other places, “festivals and music” attract young adults, who want “to be where it’s cool.”

Earth to Maureen: It’s tough to enjoy concerts, growers markets, art-house films, and pub crawls when you don’t have any money. In Albuquerque and throughout New Mexico, unemployment is rising. (Only West Virginia has a worse jobless rate than the Land of Enchantment.)

Not surprisingly, the places where Millennials are flocking — e.g., Houston, Salt Lake City, Orlando, Nashville, Denver, San Antonio, Oklahoma City, Jacksonville, and Las Vegas — tend to have robust economies. As Aaron Duke, a San Francisco-to-Denver transplant, told The Wall Street Journal earlier this year: “You don’t move just because some place is cool. You’ve also got to be able to earn a buck.”

To attract Millennials, Albuquerque needs what the vice president would call “a three-letter word: jobs. J-O-B-S.” But with carnage on the highways, rampant vagrancy downtown, a new tax hike, a burdensome minimum wage, and planning-and-zoning procedures that drive developers away, don’t expect employment growth to pick up anytime soon.

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2 Replies to “Still Clueless on Millennials”

  1. Festivals and music won’t feed my two children, of whom I have primary custody. The notion that Millennials are young, wild and free is a stereotype that doesn’t hold water. Most of the individuals I work with are Millennials and I assure you they aren’t worried about concerts. They’re worried about how to pay their bills, satisfy their obligations, save for retirement, and give to charity.

  2. Butttt, if we just raise the minimum wage millennials will come back in droves! And throw in a pound of pot for every bong with that too, that’s the ticket!.

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