there's always a weird cyclical movement regarding this. maybe 5-6 years ago, everyone was moving back to cities in droves. the reason cited was younger people didn't have the money to buy homes, and didn't want to be bogged down by the daily upkeep as you mentioned. now we see the swing back to more living space.
in my area the problem has been with people not moving out. our public school as significantly smaller classes than in the past, mostly because young people can't find housing in the area. once something comes on the market, there's such a steep overbid just to get something average. at some point the older population will age out, and there's should be a significant number of houses available. timing is everything.