“Surban” may become an important word for real estate investors this year. It’s short for “close-in” suburbs next to major cities, and surban locations are where much of the 25- to-34-year-old cohort is looking to live. According to statistics from realtor.com, Situs RERC and others, America’s most expensive cities are often too pricey for these young residents that are saddled with historically high student debt. While the more affordable outer-ring suburbs might lack amenities and offer long commute times, surban areas usually offer the live/work/play town center environment that Millennials seek, including access to mass transit and the good schools they typically grew up with, as well as proximity to their parents and other family members at a better price point.
Read more...‘Surban’ Investment Suffers from Short Supply
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