THE COLLECTIVE TREND:  Co-Living As An Affordable Millennial Lifestyle

THE COLLECTIVE TREND:  Co-Living As An Affordable Millennial Lifestyle

The Collective caters to millennials who prefer to rent everything.

The Collective caters to millennials who prefer to rent everything.

Located in London, the Collective residential building is designed to be suitcase-ready and is a little like living in a millennial-filled hotel. The management changes the linen, clean the rooms, has an on-site concierge. Rooms are fully furnished even down to the knives, the forks, the TV, so people can show up with their bag and they’re ready to live. Builders are catering to the psyche of the millennial generation who don’t want to own material possessions.

The London-based Collective isn’t the only company to attempt co-living spaces. For example, a new co-living building in Brooklyn, New York, has been criticized for charging rents that aren’t much better than a non-furnished studio in the area. Still, more are being planned.

Growing interest in the idea is a logical reaction to the housing affordability crisis many cities face where the lifeblood of these economies simply cannot afford to live properly.


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