In the late 1900’s, America saw a large growth in suburbs thanks to the perceived benefits of low crime, low home prices, and sense of community, outside the noisy and unpredictable confines of downtown hubbub. Parents sought a home where they could raise children safely while maintaining access to an economic center. While many Americans are still choosing to live in the suburbs, downtown/city living is becoming an increasingly popular option.
As gas prices continue to climb ever higher, and roads continue to fill, more and more people are moving back to the city. According to a Coldwell Banker survey, 81% of respondents cite a minimized work commute as a reason for their interest in urban living. Think of all the money you could spend on other things if you didn’t have that lease payment and $60 gas bill each time you fill up. Municipal governments across the country are waking up to the benefits of a centralized populace and expanded public transportation options, such as reduced congestion and vehicle emissions.
Despite enduring perceptions that the city is dangerous, violent crime in New York City dropped by 75% in recent years and the murder rate remains at its lowest level in years. Condos are far less likely to be robbed than houses, so residents can feel safe being out of town for extended periods. Most New Yorkers surveyed agreed that the ability to walk to more places is a positive, in addition to the wealth of cultural attractions that cities offer.
The housing market has had a challenging past few years. Home prices continue to drop nationally, so you might think I’m yanking your chain by saying that real estate can still be a good investment. And that’s because the old saying, “Location, location, location,” has a new meaning these days. As transportation costs continue to skyrocket, urban real estate prices will climb as Americans move downtown. Cities will improve their downtowns to suit this need, pushing home values even higher. Cranes building high rises can be seen acrossAmerica’s cities, maximizing downtown living space and opening up the city to more people while beautifying the skyline.
No more are the days of stuffy loft owners who want nothing to do with their neighbors, and come and go like shadows in the night. Condo residences, like those found on www.UrbanCondoLiving.com, are now frequently referred to as “condo communities,” evidence that developers understand the importance of creating a friendly environment for residents. Lavish lobbies provide a place for residents to socialize and contribute to a safe atmosphere. Entertainment and care options for children continue to grow, making it progressively easier to raise a family downtown. Urban schools are improving as money flows back to the city.
All in all, things are looking up for America’s cities. Magnificent views, reduced home maintenance, improving crime rates and schools, and freedom from the car are invigorating America’s interest in downtown living. Location, location, location.