Study Reveals a 'Bull Market for City Centers'

If housing prices were tracked like the stock market, urban cores would be soaring to new highs.

1 minute read

August 27, 2015, 12:00 PM PDT

By James Brasuell @CasualBrasuell


Los Angeles Downtown Historic Core

Omar Bárcena / Flickr

Joe Cortright describes the findings of a study by the investment ratings company Fitch as the most underreported news of the week, and possibly the year, for urbanists. "Here’s the simple number," writes Cortright, "since 2000, home prices in city centers have outperformed those in suburbs by 50 percent."

"If you care about cities, and you’re looking for definitive evidence of the verdict of the market on urbanism—this is it," he adds. But Cortright is also willing to admit that an analogy might be necessary to bring home the importance of this data to armchair enthusiasts, casual observers, or even the indifferent.

His analogy: the stock market.

Image a CNN business reporter saying:

    'In the market today, city centers were up strongly to a new high'

Or a Wall Street Journal headline

    'A bull market for city centers'

This article includes more about that analogy and the story it relates. An earlier blog, also by Cortright, broke the news of the new data and also looks into the causes of the trend.

Thursday, August 20, 2015 in City Commentary

Sweeping view of Portland, Oregon with Mt. Hood in background against sunset sky.

Oregon Passes Exemption to Urban Growth Boundary

Cities have a one-time chance to acquire new land for development in a bid to increase housing supply and affordability.

March 12, 2024 - Housing Wire

Aerial view of green roofs with plants in Sydney, Australia.

Where Urban Design Is Headed in 2024

A forecast of likely trends in urban design and architecture.

March 10, 2024 - Daily Journal of Commerce

Cobblestone street with streetcar line, row of vintage streetlights on left, and colorful restaurant and shop awnings on right on River Street in Savannah, Georgia.

Savannah: A City of Planning Contrasts

From a human-scales, plaza-anchored grid to suburban sprawl, the oldest planned city in the United States has seen wildly different development patterns.

March 12, 2024 - Strong Towns

Aerial View of Chuckanut Drive and the Blanchard Bridge in the Skagit Valley.

Washington Tribes Receive Resilience Funding

The 28 grants support projects including relocation efforts as coastal communities face the growing impacts of climate change.

March 18 - The Seattle Times

Historic buildings in downtown Los Angeles with large "Pan American Lofts" sign on side of building.

Adaptive Reuse Bills Introduced in California Assembly

The legislation would expand eligibility for economic incentives and let cities loosen regulations to allow for more building conversions.

March 18 - Beverly Press

View from above of swan-shaped paddleboats with lights on around artesian fountain in Echo Park Lake with downtown Los Angeles skylien in background at twilight.

LA's Top Parks, Ranked

TimeOut just released its list of the top 26 parks in the L.A. area, which is home to some of the best green spaces around.

March 18 - TimeOut

News from HUD User

HUD's Office of Policy Development and Research

Call for Speakers

Mpact Transit + Community

New Updates on PD&R Edge

HUD's Office of Policy Development and Research

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.