Check out this thoughtful piece by Katherine J. Cramer, "The great American fallout: how small towns came to resent cities," in The Guardian. A few interesting takeaways:
Some declining small towns are having trouble even supporting gas stations and grocery stores. "It has been a struggle for the past few years keeping this shop open with the poor economy and a small town where everyone drives 25 miles to work [and] shop. [As] our little village kept getting smaller and so did the profit margin in the shop.” This suggests that the problems like food deserts and banking deserts that have been associated with poorer neighborhoods in urban cores will be increasingly seen in the less affluent suburbs and exurbs, too.
The growing resentment among the poorer exurbs for the more affluent cities. This is perhaps to be expected, given the fact that not only are the jobs increasingly concentrated in cities - but there is now higher barriers to entry in the form of both education and retraining, as much higher housing costs in the cities. It is going to be increasingly difficult for rural residents to move to cities to make that transition.
Diverging real estate values for cities and suburbs/exurbs. The NeighborhoodX city teams have been analyzing the real estate markets of major cities at the neighborhood level. And over the years, it has become clear that the prices seem to be rising faster in the cities than in the surrounding suburbs. This has a limiting effect on people's ability to move to the cities - especially for families, who need more space.
This bifurcation of real estate prices is becoming a major theme of our recent research. The human side of this pricing gap was thoughtfully covered in Katherine Cramer's article.
For market commentary or for data regarding a story, please contact us at (917) 447-8800.
© 2012-2017 NeighborhoodX Corp. All rights reserved.
All information regarding property for sale, rental, exchange, or financing, as well as data regarding neighborhoods, boundaries, zoning, transit, historic districts, public housing, and analytics derived from any of these sources, is from sources deemed reliable but is subject to errors, omissions, changes in price, prior sale, rental, or withdrawal without notice. Please see Terms of Service for additional restrictions.
All square footage dimensions are approximate. For exact dimensions, you must retain the services of an architect or engineer. The number of rooms and bedrooms listed should not be considered a legal conclusion. Each person should consult with his/her own attorney, architect or zoning expert to make a determination as to the number of rooms in the unit that may be legally used as a bedroom. Nothing herein shall constitute an offer or solicitation with respect to the purchase or sale of any property in any jurisdiction in which such offer or solicitation is not authorized or to any person to whom it would be unlawful to make an offer or solicitation.
A trademark can be a word, phrase, symbol, or design that distinguishes the source of the goods or services.
The NeighborhoodX name and logo are registered trademarks of NeighborhoodX Corp.
The following is a non-exhaustive list of NeighborhoodX's trademarks and service marks. The absence of a trademark from this list does not constitute a waiver of NeighborhoodX's trademark or other intellectual property rights concerning that name or logo.
A SALE OF TWO CITIES
HOMES IN THE RANGE
REAL ESTATE REGRETS