Tuesday, May 11, 2010
White Flight from Suburbs Dooms Traditional Subdivision Development Model
Educated white collar professionals who have been the target market for most suburban development since the 1950s are tired of long commutes on congested roads into their workplaces. Along with all the daily hassles comes declining public schools, higher property taxes, fewer social services, and quite frankly, not a whole lot to do on weekends or at night.
Every suburb I have been studying in the United States for investment is becoming less "white" (for lack of a better term), poorer, with a declining property tax base. At the same time the urban core near these suburbs is growing.
This article from the Associated Press confirms this trend I have been writing about since 2004.
I will be having much more to say about this trend and what it means for homebuilders and developers in the near future.
Robert J. Abalos, Esq.