Driven to the Brink: How the Gas Price Spike Popped the Housing Bubble and Devalued the Suburbs

This white paper by CEOs for Cities argues that, “the collapse of America’s housing bubble—and its reverberations in financial markets—has obscured a tectonic shift in housing demand. Although housing prices are in decline almost everywhere, price declines are generally far more severe in far-flung suburbs and in metropolitan areas with weak close-in neighborhoods. The reason for this shift is rooted in the dramatic increase in gas prices over the past five years. Housing in cities and neighborhoods that require lengthy commutes and provide few transportation alternatives to the private vehicle are falling in value more precipitously than in more central, compact and accessible places.”

Click here to download “Driven to the Brink: How the Gas Price Spike Popped the Housing Bubble and Devalued the Suburbs” (PDF)

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