Death of the Suburb: Why Americans are Flocking to Cities

By Kate Rogers

Forget a the picturesque house surrounded by a white picket fence in the  suburbs, real estate agents across the country say the new American dream is a  condo in the city. The shift is a result of an altered real estate environment  post-housing collapse, and experts say it’s here to stay.

The current economic environment provides the perfect storm for city migration. “There are better jobs available in big cities, rather than the suburbs,”  Kuperberg says. “The years of nine-to-five work hours are over too, so people  want to live in a place where everything doesn’t close at 9 p.m.”

Adam Leitman Bailey, founder of New York City-based real estate investment  boutique Adam Leitman Bailey, points out the suburbs took a much bigger hit when  the housing bubble burst as suburban markets nationwide being off in price by  between 30% and 40%, whereas city markets were off 10% to 20%.

Read more:  http://www.foxbusiness.com/personal-finance/2013/05/30/death-suburb-why-americans-are-flocking-to-cities/#ixzz2VGjka7El

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