For a long time, cheap gas pushed housing development further and further out of the city and into the so-called “exurbs.” Now, with the price of oil rising rapidly, many are reconsidering that decision and moving closer to the city limits as reported in this article in the New York Times. Accordingly, in Atlanta, Philadelphia, San Francisco and Minneapolis, home prices outside of the urban core are falling faster than those within. Many cities are now looking to revitalize their downtowns with commuter rails, restaurants, stores and condos. What do you think? Will this be a temporary transition or is this the new trend?
Credit: New York Times article