Generation Why: Well-Heeled Manhattan Millennials Opt to Rent Instead of Buy

With their increasingly mobile jobs and lifestyles, successful New Yorkers in their 20s and 30s are shying away from making a commitment to one city, let alone one apartment. And despite Manhattan's astronomical rents, it's costlier still to buy here, with the average Manhattan apartment now going for $1.73 million, a record high, according to Halstead Property.

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