Smart Growth Is Also Smart Investment

For the younger crowd, sprawl just isn't hip anymore. People are increasingly gravitating to New Urbanist and smart growth villages and developments, and out of the McMansions and ranch-style subdivision homes. These consumer trends are becoming more enticing for developers as many of these villages are popping up around the country.

"The demand for such developments is real, and it's only going to get greater as consumer preferences rapidly shift away from the McMansions preferred by boomers. According to a study by the nonprofit Congress for New Urbanism, while less than 25 percent of middle-aged Americans are interested in living in dense areas, 53 percent of 24-34 year olds would choose to live in transit-rich, walkable neighborhoods, if they had the choice."

"Demand for housing within walking distance of transit will more than double by 2025, according to another nonprofit, the Center for Transit-Oriented Development. Even now, properties within a 5- or 10-minute walk to a train stop are selling for 20 to 25 percent more than comparable properties further away - a price premium that's likely to increase as traffic jams worsen."