Suburbs have always been an indicator of economic status. If you lived in them, you were wealthy enough to take on a mortgage, maintain a house and yard, and eventually own and maintain one or even two cars.
At some point, that shifted. Living in the city and maintaining a middle class lifestyle took an upper class income. Limited attractive neighborhoods and buildings cost a premium. And if local schools and services were not up to par you needed to pay tuition and fees.
Now, according to Christopher Leinberger and Mariela Alfonzo in the New York Times, a larger number of city neighborhoods are outstripping the suburbs in desirability and thus in per square foot value. Their recent report finds that walkable … Continue reading