The truth? Not so much. The Atlantic:
Rich 20- and 30-somethings with college degrees are much, much more likely to live in dense urban centers than they were 20 years ago, as Ben Casselman and Jed Kolko have explained. Some media narratives treat this rarified group as synonymous with Millennials, perhaps because it describes the clientele of the bars frequented by the coastal journalists who write those stories. But step outside Brooklyn, D.C., or Oakland, and you'll find that the broader story is completely different. Adults between 25 and 34 without bachelor's degrees (which is the majority!) are actually less likely to live in urban neighborhoods than they were at the turn of the century. Most of them are moving to the suburbs as soon as they can afford to.