Quote:
Originally Posted by esquire
That said, there has been increased interest in urban living here in recent years. Urban neighbourhoods and inner city suburbs that were very down at the heels 20 years ago are being revitalized to some extent. I wonder if some of that has to do with the fact that sprawl has gone on to the point where some commutes from the outer edges are simply becoming unbearable? Maybe there is a natural tipping point where, once standard issue subdivision homes simply become too far out to drive comfortably on a daily basis, that people start to look inward?
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I'd say that another issue is that inner-city areas are now a bargain compared to their suburban counterparts.
In the city I live, a new(ish) suburban home might run $100-$150k more than an equivalent closer to downtown. This effect is exaggerated the newer the home is. Aside from places like Toronto, Vancouver and Calgary, where closer to the center is better, maybe people are just (as silly as this sounds) being priced out of the castles they're building in the suburbs.