Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I was just blown away by an article in the March Atlantic Monthly called The Next Slum.The topic has been discussed before, but the professors quoted here make a pretty good case for getting worried if you own a home in the suburbs. Demographic trends point toward baby boomers moving out of the 'burbs and into active adult communities, urban environments, or the new urban community. So lots of mcmansions are going to go up for sale - last one there please turn out the lights!
Made me come up with a new real estate strategy for early baby boomers (aged -55-62) -sell your suburban house now and move to where you want to live in retirement as soon as you can. Your current house might not be worth as much as it was a few years ago (unless you are fortunate to live in one of the surprisingly large number of communities where prices are holding up), but it probably will be worth less in the future! Anyway, it's my crazy theory. Go to Suburbs the New Slums if you want more explanation
Even with the housing slump;people continue to leave the cities. The only peole moving in are the rich in abandoned areas and the poor who the government builds houses for in the hope that it will revive the cities. In the meantime the businesses are moving where the workforce is and the customers. Outside the city. Retirees are moving even further fron the cities as they don't have to worry about commuting. They are taking the things like doctors and best hospitals with them. That article reads like a socialist pipe dream.
I believe that families with children will still want to remain in the suburbs despite all the talk in the articles about the trend toward urban living. Just don't see much change (at least in the northeast) unless gas become $10 a gallon. JMHO Jay
News articles like this are wishful thinking on behalf of some people.
LOL, you got that right!
FWIW, here's a thought from someone who's been in the publishing business since the 70's. Magazines like Atlantic Monthly tend to indulge in "sour grapes journalism."
They make a lot of money off of it--these are the issues that really sell! And the staff enjoys the chance to feel self righteous. Lowly paid journalists and professors love to sneer at things that they can't afford or they can't achieve.
I'd still recommend reading the article, if it sounds interesting to you. There's probably still some truth in it, and interesting ideas. But read carefully, because you'll have to wade through research that has been bent to fit an agenda. Atlantic Monthly is not a good example of objective journalism.
Made me come up with a new real estate strategy for early baby boomers (aged -55-62) -sell your suburban house now and move to where you want to live in retirement as soon as you can.
Hmmmm, this got me thinking.... a suburb full of McMansions might be perfect for retirees. Think of all those people who will be creating "retirement communes" or "golden girl houses" or whatever cutesy nickname those things will end up getting. Having a bunch of friends in a big ol' McMansion would be like having a frat house for geezers.
A whole neighborhood of "retirement communes" could be an interesting concept. But first---we have to come up with a better name than "retirement communes" or "golden girl houses". Any suggestions?
They are often referred to as 'Active Adult Communities'.
Here's my take on this subject, FWIW. The towns with truly excellent, stellar school districts have high price tags to match. In the NY 'burbs, we're talking taxes in the mid-teens and up for property. A two-million dollar home can have over thirty-thousand a year and more in property taxes on it. Yikes.
Until we figure out a way to provide excellent public schools in this country without having these little pockets of high-tax communities, we'll see fixed-income seniors moving out if they can. The towns become somewhat sterile with only families and kids living in them but that's what is happening.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
