December 05, 2011 |
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Bill is ‘Burb Crazy
My friend Der Snide (John Snider) just sent me another article predicting the demise of the suburbs. This one is by Christopher Leinberger, a senior fellow at the Brookings Institution and a professor of urban and regional planning at the University of Michigan. The mantra is generally the same as I have read elsewhere, i.e. a Gen Y demographic shift to urban environments; the convenience of not owning a car(s); pent-up demand for centrally located neighborhoods in cities, etc. The good doctor talks about abandoned strip malls with crumbling buildings that are now appearing all over America. There is one, major problem with his analysis, however. Where is the land? The land is in the suburbs, and the exurbs. Not ‘downtown.’ Another factor that is often overlooked is the growing number or workers who are able to accomplish some/part/all of their job working out of their home office. The ‘burbs are not going away, at least not anytime soon.
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Sarah ‘Krebsy’ Adams and New Home Supply
The U.S. Census Department released its monthly new residential home sales report for October. Sales climbed 1.3% since September and increased 8.87% above the level seen in October of 2010. Perhaps more importantly, however, it that new home inventory has fallen to a new low of 162,000 units, the lowest level seen in at least 47 years.
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