Tuesday, November 16, 2010
The Next Housing Boom
Many participants in the Manchester 2020 Quadrant meetings expressed a desire for livable, walkable neighborhoods. Check out this link to a recent article from the Brookings Institution. The author makes a case for why the next real estate boom will be fueled by those looking for walkable communities that have access to public transit. Both the Baby Boomers and their children (which together make up half of the US population) are expressing a strong desire to live in these types of communities, but at present, we are continuing to build housing and neighborhoods according to the old model of car-dependant suburbs. He says ending government subsidies that promote sprawl, and instead incentivizing "smart" development would unleash demand for these livable types of communities and drive a revitalized, sustainable real estate market.