Sprawling Future?
A recent story by NPR suggests that areas with long commutes are seeing the largest drops in home prices. Also, areas near the city center are actually faring better. The example in this story is the Washington DC area, which has some of the longest commutes in the country. St. Louis certainly does not have the same level of traffic and resulting diminished demand for housing further from the city. However, the same principles apply albeit in a diminished way.
The longer a person spends commuting the less time they have to participate in family, civic obligations, and leisure. People used to move their home search further from the city center until they could afford the house they wished. Now people are beginning to more heavily consider time spent in the car and money spent on gas. It appears there is statistical evidence that sprawl is slowing. Americans are starting families later in life and the overall population is aging. These two groups of people tend to enjoy urban living. Is the 50+ year trend of sprawling development patterns over?
