Suburbanities Take Back to the City - PA Deals


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Suburbanities Take Back to the City - PA Deals

  1. 1. Suburbanites Take Back to the CityCould the days of flocking to thesuburbs soon end as Americansmove back to the city? Theeconomic downturn has createdwhat experts call "NewUrbanism" a rejection of lifeamongst suburban sprawl andthe sub-prime mortgage crisis.Rising oil prices have made eventhe "drivable suburb" a lessfeasible option for Americansfeeling the penny pinch.Some housing experts evenpredict that large suburbanhomes could become multi-family units for the poor as urban housing pricingrise with an influx of former suburbanites. This I feel is a little extreme, butnot out of the question.If you take a look back into history housing was in the city. The massmigration of Americas middle classes from urban areas to the suburbsbegan to occur in the years after the Second World War.But the so-called "drivable suburb" is becoming increasingly unfeasible assoaring fuel costs make a long commute too expensive for many. Higherenergy prices are also having a huge impact on bigger homes, such as thosefound in the suburbs, as they inevitably cost much more to heat in winterand cool in Americas often fiercely hot summers.The sub-prime mortgage crisis has accelerated this flight to the cities asproperty prices have particularly collapsed in more remote areas.According to some polls as many as 20 per cent of Americans said they wereconsidering moving closer to work while roughly the same percentage saidthey were thinking about getting a job closer to home. With numbers likeZack WiestPaDEals.com717-901-7763 Ext. 300
  2. 2. these, the findings add up to a cultural change, which translates into millionsof people considering a major transformation in their daily lives.Low energy costs and the availability of autos helped accelerate the urban tosuburban move. Today, with the higher energy prices big changes in ourlives are required, and nothing short of dramatic lifestyle change may beginto adapt to them.Even before the latest economic downturn, demand for urban living hadbeen rekindled among two generations the "baby boomers" in their fifties ,and the latter born between the late 1970s and mid-1990s. Both werealready drifting away from the suburbs, the baby boomers because theywant smaller homes and more accessible amenities, and the latter to rebelagainst their cul-de-sac upbringing.Transportation is now the second biggest household expense in the US afterhousing. Much of the new demand for city homes is in neighborhoods closeto light railway stations, sparking the move away from a car culture.Some towns around cities have responded to this, and the revitalization ofurban properties moves faster than the price of a barrel of oil. Americans arenot just thinking about these changes, they are making them.Opportunity for real estate investors in are overflowing. There is no short fallof prospective buyers with this phenomenal growth.Log onto right now to be part of the most exciting real estateopportunity found anywhere.PA Deals, LLCZack WiestPaDEals.com717-901-7763 Ext. 300