Re:Why Are America’s Three Biggest Metros Shrinking?
by dragonwriter on Tuesday September 10, 2019 @04:48PM
(#20933532)
> If suburb living is so desirable, why does it cost more to live in the city?
Cities are very good places to live if you are very rich, and you might need to live there for certain work (commuting has a time cost, and doing it with a cushion for a job with long hours and strict on-time requirements can be prohibitive, for instance.) So, there are reasons why cities are desirable for some portion of the population
But price isn't just demand, it's the intersection of supply and demand, and the available land in a given radius of a point (say, a city center) goes up with the square of distance. So even if desirability increased with distance, it'd still be possible for price to go down.
Cities are very good places to live if you are very rich, and you might need to live there for certain work (commuting has a time cost, and doing it with a cushion for a job with long hours and strict on-time requirements can be prohibitive, for instance.) So, there are reasons why cities are desirable for some portion of the population
But price isn't just demand, it's the intersection of supply and demand, and the available land in a given radius of a point (say, a city center) goes up with the square of distance. So even if desirability increased with distance, it'd still be possible for price to go down.