Re:Rents are dropping across the US
by spamizbad on Wednesday June 17, 2020 @10:46PM
(#23559295)
Here's the thing about suburbs and exurbs: Even if everyone loved them, the problem is few people can afford to move into them. They discourage construction of rental supply and prefer either single family homes or... higher-end condominiums. So if you want to live in these communities you need to be able and willing to buy property.
People aren't typically at this stage until they're secure in their careers and have partnered up. These days that's people well into their 30s (and maybe 40s).
The notion that a bunch of 28 year old single people making $30,000-$50,000/yr while paying down student loans are going to be rushing out to the suburbs to buy homes[1] because of COVID or "social unrest" seems unlikely.
[1] Which, incidentally, tend to be fairly large since municipalities discourage smaller "starter home" construction.
People aren't typically at this stage until they're secure in their careers and have partnered up. These days that's people well into their 30s (and maybe 40s).
The notion that a bunch of 28 year old single people making $30,000-$50,000/yr while paying down student loans are going to be rushing out to the suburbs to buy homes[1] because of COVID or "social unrest" seems unlikely.
[1] Which, incidentally, tend to be fairly large since municipalities discourage smaller "starter home" construction.