So Much For The Death Of Sprawl: America’s Exurbs Are Booming
4th November 2015
It’s time to put an end to the urban legend of the impending death of America’s suburbs. With the aging of the millennial generation, and growing interest from minorities and immigrants, these communities are getting a fresh infusion of residents looking for child-friendly, affordable, lower-density living.
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How could this be? If you read most major newspapers, or listened to NPR or PBS, you would think that the bulk of American job and housing growth was occurring closer to the inner core. Yet more than 80% of employment growth from 2007 to 2013 was in the newer suburbs and exurbs. Between 2012 and 2015, as the economy improved, occupied suburban office space rose from 75% of the market to 76.7%, according to the real estate consultancy Costar.
Those pesky Americans! No matter how may times the experts tell them that they ought to be crowded together into high-rise apartments, they keep spending money on single-family houses with a yard! It’s infuriating!