A new ideal of urban loft-living is overtaking the decades-old dream of a house in the suburbs, according to a housing expert who addressed a gathering of local developers in Minneapolis last week.
MinnPost reports that Urban Land Institute researcher John McIlwain sees a strong future for cities that can supply environmentally sustainable housing:
"McIlwain, a senior fellow at the Urban Land Institute in Washington, D.C., and author of a research paper titled 'Housing in America: The Next Decade,' predicted that many central cities will experience strong demand for housing, with the strongest markets 'in places that provide a vibrant 24/7 lifestyle.' He also said that shortly after the end of the decade, virtually all new homes will produce most if not all of the energy they use, and the 'net-zero-energy' home will be the standard."
"As sprawling suburban development comes to an end, home ownership will decline to more historical levels and rental market will grow. People seeking an urban lifestyle but not in a 'big city' will look to live in suburban town centers that have emerged around the country."
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