Are we seeing a demographic shift back to the cities? Today I read an article from the postwritersgroup that raises the question as to whether we are now seeing a shift from the suburbs back to the cities. For years the trend in real estate has been a movement from the urban areas to the outlying suburban developments; is this changing?
According to the article, we are not going to see a mass exodus ftom the suburbs back to urban cores, but we are seeing an increase in new construction in close in suburbs. Alan Ehrenhalt, the executive editor of Governing magazine states that "we are living at a moment in which the massive outward migration of the affluent that characterized the second half of the 20th century is coming to an end."
"What makes these shifts special," notes Ehrenhalt "is the signal that an America that seemed distined for everlasting individualization and sprawl is experimenting with new versions of community and sociability."
This movement started before the rapid surge in gas prices, but it will increase with rising gas prices and also with the increasing number of childless households as the baby boomers age.
What does this trend mean for Charlottesville, Virginia and Albemarle County? We have already seen the gentrification of the Belmont neighborhood. As more and more of the older Belmont homes have been bought up and given a trendy facelift, we have seen prices rise. Increasingly there is a lack of affordable housing in Charlottesville. The area workforce is forced to move farther out as prices in the city rise and young professionals move in.
An additional offshoot of this trend that we see is new developments constructed on the mixed use neighborhood design. One that comes to mind is Belvedere which will include retail and commercial spaces, a townhall, parks, single family and attached homes designed to be walked to. Another project that includes neighborhoods as well as a retail segment is Old Trail in Crozet.
Of course, with the beautiful countryside of Albemarle County, and the emphasis on an active outdoor lifestyle, I don't think that we will see a total switch to citylife in our area. Now, residents can choose between a more urban lifestyle or a country home. We have ended up with something for everyone.
To read the entire article click here
If you would like more information on the real estate choices in the Charlottesville, Virginia real estate market, I would love to talk with you.
Whether you are buying or selling, let me put my local knowledge and attention to detail to work for you.
Pam Dent, e-PRO, SRES, NHD
Real Estate III
Charlottesville, Virginia
434 960-0161
www.JumpintoGreenerPastures.com
www.CharlottesvilleRealEstateTalk.com
licensed to sell real estate in Virginia
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