Suburbs are so 20th century. Here's why so many of us are moving back downtown.
Just after the close of World War II, the last Great Migration in the United States — the move from the city to the new suburbs — began to emerge, fueled by new roads, low congestion, and modest energy costs. It was a new beginning, a chance to shake off the past, and it came complete with the promise of more privacy, more safety, and easier financing.
Not surprisingly, Americans bought in.Read the rest at AlterNet
After that, it didn’t take long for the preferred retailers to do likewise, abandoning the city and following their customers to the suburbs. The suburban single family home on a large lot became synonymous with the American Dream.
After 60 years, many commentators have announced that the American Dream is poised to make its next great shift — this time from the suburbs to the urban core of our cities. Indeed, at the recent New Partners for Smart Growth Conference in San Diego, Chris Nelson, Joe Molinaro and Shyam Kannan made it clear that a radical shift in preferences is on the horizon.
They’re not alone in that position.
Just last week, Robert Shiller of the Standard & Poor’s/Case-Shiller Home Price Index made the dramatic statement that, with our growing shift to renting and city living, suburban home prices may never rebound in our lifetime.
Why such pronounced findings? According to researchers, it lies in the preferences of our largest generation since the Boomers, the under 30 Generation Y.
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by Nathan Norris | Placeshakers and Newsmakers