I saw this on CNBC and this is confirming what I am seeing not only in Middletown, but the other suburbs in the Dayton-Cincinnati area.
For video click this link http://www.cnbc.com/id/101095397" rel="nofollow - http://www.cnbc.com/id/101095397
Young people
shunning the suburbs in favor of the hustle and bustle of city life are
leading the charge in the "re-urbanization of America," real estate mogul
Sam Zell told CNBC on Tuesday. "You're drawing all the young
people in America to these 24/7 cities. The last thing they want to do
is live in the suburbs," Zell said in a " http://www.cnbc.com/id/15838368" rel="nofollow - Squawk Box " interview. "In that respect, you're increasing demand for housing in the urban markets."
The demand for the suburban lifestyle had
been driven mainly by safety and schools, he said. "If you wanted to see
the end of suburbia, all you'd need to do is make the school systems in
the cities triple-A and why would anybody live in the suburbs," Zell
said. One of the byproducts of people moving to cities is
soaring demand for apartments. "We are seeing 96 percent occupancy,"
said Zell—who's chairman of the real estate investment trust http://data.cnbc.com/quotes/EQR" rel="nofollow - Equity Residential , one of the largest apartment groups in the country. Of the 18,000 units the REIT manages in New York City, Zell estimated 45 percent are occupied by just one person.
"It's probably going to happen here in New York first," he said.
"You're going to see 300-square-foot apartments, directly related to
that one person wanting to live alone—and saying, 'I'll give up space
for privacy.'"
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