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Seattle's population bottomed out in 1986. The first Downtown housing boom was around 1980-1982. Then another around 1986-1990. And so on.
Vancouver started in the 1960s I believe.
The trend has been going much longer than 20 years.
There are lots of reasons for it to continue. Now that more core areas feel residential and have lots of services, more people like the idea of living in them. Commuting is hard and despite transit improvements will never really be easy in the best cities. And jobs are booming in many urban cores.
Yup. It assumes the urban trend continues. If crime rates start rising in cities again, it could very well slow down or stop the urban movement.
People have to remember that this urban boom has been one of the biggest in the last 50 or so years for many many cities. Who knows if it's just an anomaly. You can't assume an urban movement like this goes on for 30 years straight. There will be recessions and that alone will slow down growth.
There's already talk that the next generation(Gen. Z) seem to prefer suburban homes over urban apartments and condos.
There is no land for that. Single family homes are coming to an end because regions are out of land. Even the suburbs in DC are focused on urban development around metro. Now, I know we are an anomaly in DC because even our suburbs have subway stations to build around but that is our reality here. The whole region is building around metro stations north, south, east, and west.
This is absolutely true. This is the rebirth of the City-State.The innovation cities are taking over; They'll be where it's at for the next many decades for graduating students. They'll make the money, and branch out just beyond the cores to the suburbs at the cities' edge, but with much closer ties to the urban cores - than the latter 20th Century.
There is no land for that. Single family homes are coming to an end because regions are out of land. Even the suburbs in DC are focused on urban development around metro. Now, I know we are an anomaly in DC because even our suburbs have subway stations to build around but that is our reality here. The whole region is building around metro stations north, south, east, and west.
What?
There is plenty of room for sfh homes in dc metro.
The areas around metro stations are small in comparison.
Houses will always exist, but many areas aren't actively encouraging sprawl-type growth patterns anymore. Few additional freeways etc. And as the easy/close land gets developed, the rest gets expensive, which supports more efficient use of what's left.
Commuting is hard and despite transit improvements will never really be easy in the best cities. And jobs are booming in many urban cores.
There are certain cities capable of handling their booms. Metro is spending big money.
you have a long way to go to have a 24 hour/day core, w/ world-class transportation that matches the current rate of growth. You all are putting up the money, though.
My MBTA is plain way underfunded. But help may soon be on the way.
In any case, i might be coming to Seattle for 18 months~2 yrs.
Horror.
Houses will always exist, but many areas aren't actively encouraging sprawl-type growth patterns anymore. Few additional freeways etc. And as the easy/close land gets developed, the rest gets expensive, which supports more efficient use of what's left.
Exactly! Sure there will be demand to live in single family homes, but it won't be new construction. Growth in the DC area is only going to be urban moving forward because we are out of land. DC is going to absorb the bulk of it. Take a look at this report:
Quote:
Originally Posted by MDAllstar
Report: 2016 Saw Record D.C. Proper Residential Growth, While Office Market Slowed
According to the WCDEP's 2016-17 Economic Development Report, to be released Friday at the group's annual meeting, 2016 was the most robust year for residential delivery since the group began tracking them in 2001. There were 6,524 units completed this year alone in DC proper.
"The big driver is the residential sector," says Chad Shuskey, WDCEP's senior vice president of research & real estate. "We are expecting 8,250 more units in 2017. That will be a new record as well."
As of August, there were more than 14,800 residential units under construction in DC proper (or major renovation). That is a jump from 13,294 units at the same time in 2015. It is the third consecutive year a new record has been established for residential development.
Nearly 45 percent of the units under construction are being built in three submarkets — Capitol Riverfront, NoMa/Union Market, and Southwest
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