Here’s an interesting piece about a housing/economic expert who thinks the suburbs in general, not just in Massachusetts, are going to be facing tough times moving forward.
We’ve heard a number of economists predict this in the past. Does anyone really know if they’re right?
But here’s the foundation of the predictions:
1.) Suburbs are not friendly to senior citizens — and to retiring Baby Boomers in particular. There could be millions of suburban homes soon up for sale as a result, as boomers retire and move into city condos.
2.) Younger people increasingly don’t like the suburbs and prefer living and working in urban areas, preferably without cars. That’s millions more not heading to the ‘burbs.
3.) The migration of more affluent people into urban centers is pushing up home prices for less-affluent people in cities, forcing them to leave.
4.) There’s increasing evidence here and elsewhere that poverty is “spreading out” to non-urban areas, as the less affluent leave cities in search of more affordable housing.
Again, it’s all just a theory, and one based on only preliminary data and anecdotal evidence.
And remember: The same type of policy-wonk bozos who once predicted in the 1950s that cities were “dying” are now saying roughly the same thing about suburbs.
So take it with a grain of salt, though it’s an interesting theory.
Photo via Compfight.