Earlier quoted context omitted.
On the margins, sure, there suburbs are gaining a little relative to the city. On the whole, though, cities are vastly more in demand than suburbs.
Disagree strongly. Just look at suburb housing prices in the Bay Area versus within SF itself. People want to be close to cities, but if it means giving up a single family home they’ll gladly live in the suburbs.
Correspondingly the price per square foot in Manhattan is about $1300, while Queens and Staten Island run not even half that.
People may choose to put the savings from less desirable environments into larger homes. But there’s no reason condos shouldn’t be as large as houses. Urban environments are just so scarce that the only way even pretty rich people can get them is to compromise on space.
https://www.statista.com/statistics/1234783/average-sales-pr...