In the June issue of The Atlantic, author Christopher Leinberger discusses the rise in demand for walkable neighborhoods around the country. Here on the Charleston Peninsula and in a few other neighborhoods around the area – we ARE walkable and have been since inception, thus I suspect the demand for homes around here will rise. These neighborhoods have experienced much less of a decline in value compared to those neighborhoods in the suburban areas on the outskirts of town and we have a perfect combination of culture, amenities and a reasonable amount of space combined with the walkability.
Excerpt from the article:
“Americans are not about to abandon conventional suburbs en masse; many prefer them. But demand for walkable urban living is rising, and today supply of that sort of housing is limited. As for conventional suburban housing, the reverse is true. In a 2006 article in the Journal of the American Planning Association, Arthur Nelson of the University of Utah estimated that, based on current supply and shifting demand, the nation may have a surplus of some 22 million large-lot single-family houses by 2025.”
“Two-thirds of all households today consist of singles, childless couples, or empty-nesters, and that proportion will rise over the next 20 years. All of these groups tend to prefer walkable urban housing. Millennials—the rising generation of 20- and 30-somethings—are particularly drawn to urban living, seeing it not only as exciting but as healthy and environmentally friendly.”
Click here to read the full article and let me know what you think.