Jun 18 2006
Suburban Flight
An article in CNNMoney.com describes what we’re seeing in Seattle, people moving back to the city core after decades of migration to the suburbs.
Young professionals make up a big part of the trend. “It’s carefree living,” says Caparo. “Young professionals just want to put the key in the door and go to bed at night and lock it up again in the morning.” It’s also where the action is, professionally and socially. “For them, there’s lots of DNA to hook up with,” says McIlwain.
Retirees love the museums, restaurants and, most important, access to the best health care. Empty nesters get to live near work.
“For years people traded a commute for affordable housing,” says Jim Gillespie, CEO of Coldwell Banker. The further out in the suburbs, the more affordable the homes. But as suburbs expanded and got more crowded, road construction did not, could not, keep up. Congestion grew worse.
Of course this movement bodes well for Seattle’s exploding condominium renaissance. Fueled partially by the Growth Management Act, rising commute times and fuel costs, and lifesytle choices, urban centers are both practical and necessary to accomodate long-term growth.
And, I may become part of the statistic. Three years ago I left the city core to purchase an affordable home in North Seattle. From my apartment on Capitol Hill I lived a very pedestrian lifestyle - walking to the grocery store, movie theaters, restaurants, bars, Pacific Place and to the Pike Place Market every weekend to buy fresh fruits and vegetables. It was the epitome of urban lifestyle.
Now, I drive everywhere.
So I’ve been thinking about cashing out my nearly 40% appreciation and moving back to the city core and becoming pedestrian, again. Guess I’ll pull out my rabbit’s foot because I’ll need luck to get one of Vulcan’s lottery spots.
