Well I am just enjoying the snow today and since I can’t go out and ride my bike, I thought I would tell you all a bit more about the Real estate meeting in California last weekend.
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There were some very interesting concepts brought to light over last weekend. Alan Ehrenhalt is a professor and the Former Editor of Governing Magazine. He spoke about Demographic inversion. It was very fascinating. Basically demographic inversion is the influx of people to metropolis living. I believe we were seeing the beginning of this with the surge in condo builds. The condo builds unfortunately collapsed with the rest of the market, but it was unmistakably becoming a trend to move into the city core. The population has quadrupled in cities such as Manhattan converting buildings previously used as business complexes into condos. People are moving into cities and cities are responding by making the downtown areas healthier with, Theater, Music and Arts, state of the art transportation and other various activities produced to entice residence. Many cities are burdened with providing safer environments for the downtown occupants. The downtown area is an essential heart for any large city, and as businesses move further out, they are attempting to fill the buildings with occupancy. The second part of this shift from the burbs to downtown is the new residence in the suburban areas. Across the country we are seeing an influx of immigrants and the trend is that they prefer moving to these suburban locations possibly for a life style not afforded them in their country of origin.
So as you can see he is painting a picture of the changing landscape. How long will this trend continue? Who knows, but my guess is that as we see fuel start to trend upward again, and as some are guessing near $5 a gallon….that downtown area closer to work will look very appealing!
I hope you have a great week and should you or your customer have questions about financing property, please give me a call.
This is not the opinion of Brad Bergamini, Realty Executives Northern Arizona or any of its affiliates. This post is for informational purpose only and is not guaranteed and does not render as legal advice. Buying and selling Real Estate in Arizona or Prescott Arizona is a serious task and should be consulted with personally with Realtor or Real Estate Attorney. Please visit my website for contact information