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Description
A Fortune journalist examines why the suburbs are transforming and losing their appeal—and why that’s not a bad thing Over the past few years, the American suburbs have undergone a dramatic shift, with millions of once coveted homes now stamped with foreclosure signs and once-pristine neighborhoods plagued by crime and poverty. According to Leigh Gallagher, this phenomenon isn’t merely about the housing bust; it reflects fundamental changes in our society. For example:
The nuclear family is declining: Since the Baby Boom, birthrates and marriage rates have shrunk, reducing the demand for big homes in suburbia.
The era of “bigger is better” is over: As we become more concerned about the environment we opt for smaller homes and avoid the gas-guzzling nature of suburban sprawl. Our cities are having a renaissance: New research shows that urbanized living actually makes for happier, healthier lifestyles. Blending economic data, analysis, and on-the-ground reporting, Gallagher paints a surprising and fascinating portrait of how the American Dream isn’t over; it’s simply changing.