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Urban centers on the rise again
Subprime-mortgage crisis and $4-a-gallon gasoline are causing many to think twice about remote subdivisions, rendering long commutes untenable.
Chicago Tribune - Chicago, Ill.
Subjects: Apartment buildings; Baby boomers; Suburban areas; Subprime lending; Urban areas
Author: Karp, Jonathan
Date: Jun 29, 2008
Start Page: 14
Section: Chicago Homes
Abstract (Document Summary)

Just as low interest rates and aggressive mortgage financing accelerated expansion of the suburban fringe to the point of oversupply, "the spike in gasoline prices, layered with demographic changes, may accelerate the trend toward closer-in living," said Arthur C. Nelson,director of Virginia Tech's Metropolitan Institute in Alexandria, Va.

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