This article on The Atlantic.com suggests that some of the problems we are seeing in American suburbs may have come to light with the current foreclosure crisis, but may be rooted in changing demographics and attitudes towards how we live. An oversupply of large lot single family homes, increase in childless households, rising gasoline and natural gas prices, downsizing baby boomers and the increased desire to be able to walk to retail and entertainment is leading to a weakened suburban home market. The article is careful to suggest that all suburbs are not created equal and that the problems will not affect everyone across the board. Suburbs with town centers or thriving retail districts and public transit may benefit from this trend and also those with lifestyle centers that combine retail, office and residential. Central cities are also benefiting from the trend as evidenced by the increase of residential development in our urban centers across the country.
Read the article here.
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