It's been a while since 2008, and a new crop of homeowners is colonizing the far-flung exurbs. Mostly foreclosed and even abandoned last time around, the exurbs are still a risky buy.
Written off (sometimes literally) after the Great Recession, the exurbs are back. Buyers' motives are largely the same: extreme prices and scarce options closer to the urban core. The situation is particularly outlandish in the Bay Area: "Buying was impossible: The median price is almost $1 million. In Mountain House, about 55 miles east in the San Joaquin Valley, [homes sell for] for less than half that."
Thankfully, the commuters of the exurban diaspora featured in this article can take the train to work. "If we had to drive we wouldn't last," one of them remarked.
Without viable housing options closer in, young people with families often consider settling down far, far away. "The push to the outskirts is being fueled by the more than 4 million new jobs created since 2013, historically low mortgage rates and a population bulge of millennials settling down."
With 2008 in mind, experts doubt whether that decision could ever be wise. "The exurbs' comeback is precarious because they're attractive to buyers who 'could be more sensitive to mortgage-rate increases,' said Megan McGrath, an analyst with MKM Holdings. 'The longer-term risk is that it's a more vulnerable land position to hold ahead of the next housing downturn.'"
FULL STORY: Dead U.S. Exurbs Are Staging Comebacks
The Mall Is Dead — Long Live the Mall
The American shopping mall may be closer to its original vision than ever.
The Paradox of American Housing
How the tension between housing as an asset and as an essential good keeps the supply inadequate and costs high.
Report: Las Vegas, Houston Top List of Least Affordable Cities
The report assesses the availability of affordable rental units for low-income households.
Anchorage Leaders Debate Zoning Reform Plan
Last year, the city produced the fewest new housing units in a decade.
How to Protect Pedestrians With Disabilities
Public agencies don’t track traffic deaths and injuries involving disabled people, leaving a gap in data to guide safety interventions.
Colorado Town Fills Workforce Housing Need With ‘Dorm-Style’ Housing
Median rent in Steamboat Springs is $4,000 per month.
City of Yakima
City of Auburn
Baylands Development Inc.
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
City of Birmingham, Alabama
City of Laramie, Wyoming
Colorado Department of Local Affairs
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.