Everything Points to a New Suburbia
Big Box Multi-Family
High density multi-family is all that can work in expensive city locations. The problem is that more than half of the population would prefer to live in the suburbs in a standalone house with a porch, a garden and none of the big city hassle.
Big box residential is like big box retail in that it is difficult to get approved, hard to get financed, expensive and time consuming to build plus it suffers from a NIMBY syndrome.
Small Box Singles
Conversely, more and more towns are willing to embrace small lot singles and ADU’s, lenders like their low risk & fast schedule and builders can increase profitability creating a high quality product not burdened with all the extras involved in city construction.
And then there’s the neighborhood. Low crime, low taxes, free parking, easy access, abundant shopping, quality jobs, less costly living.