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The two largest demographics said to be leading the coming charge for a more urban lifestyle are baby boomers and the millennial generations, which are said to make up nearly half of the American population. Walkable neighborhoods near entertainment, conveniences, hospitals, and great public transportation systems are said to be where much of our future demand may lie. Creating ways to fulfill that demand will take proper planning along with public and private investment. Yes, there is a glut of property on the market right now, but what happens when the demand for walkable neighborhoods increase along with the demographics of growing sections of our populace? Will there be a resurgence in city living? Take a look at the Brookings article and see if it made you think of as many things as it did me. I’ll see if I can’t get one of my mortgage buddies to write some more about location efficient mortgages in the future. I’ll also see if we can’t dive a little deeper into the demographic shift that could be coming as well.
The map below shows a small sample of some of the homes near the METRO light rail system in the Phoenix area.
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| photo by Grand Canyon NPS |
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