Health Crisis Accelerates Wave of Suburbanization, Potentially Creating a Structural Shift in Real Estate Demand
Health crisis puts new eyes on the move to the suburbs. The global spread of COVID-19 has brought to the forefront questions regarding the future of central business districts. While the proximity to work and play offers convenience to residents, acute population density and the use of public transportation present risks during a pandemic. Even without additional health concerns, suburban popularity had already begun to rise. While a decade ago the pace of population growth was higher in downtown areas, now that activity has shifted to the suburbs. This trend is being accelerated by health concerns, but demographics are at the root.