Are millennials creating junkspace in cities?

Although I disagree with some of the outcomes of Duany’s “New Urbanism”, he makes an interesting point about millennials in an interview about his career in The Atlantic. He says, “These people would normally be buying real estate by now. And we designed for them. We kept saying, "Aha, these kids, between 24 and 35, will be buying real estate." Guess what? They aren't. Because they can't afford it. But they're still using the cities--they're renting and so forth. The Gen-Xers also discovered the cities; they're buying in a proper way. The Millennials are the ones we're talking about. And they love cities desperately. And they're loving them to death.”

 Are millennials creating junkspace in the cities that we live in? It seems as though a vicious cycle of constant renting and moving has pushed cities into junkspace because we can’t afford to buy real estate. There are many benefits to buying property as opposed to renting and it keeps people accountable for making their spaces beautiful. However, millennials are easily distracted by what the latest trend is (in major part brought about by technology i.e. the iPhone)…a sort of “grass is always greener” mindset. Is the reason that we can’t afford to buy because prices are too high or because we have an attitude where we can’t seem to settle and don’t want to buy?