A little over a year ago, I posted a column in our 1101 Eighteenth blog titles “Primurbia.”   Primurbia is a term we have used at M2H Group to identify the region we want to build our for-sale product.  The area has also been called the “trolley car suburbs.”  Basically, it is the first ring of development outside the urban core.  In the days before the Federal Government gave you a deduction on your taxes for the interest on your home loan, this was the area that people really desired to live in.  And the neighborhoods were “mixed use.”  The grocery store was usually a couple of blocks away and it was not uncommon to see beautiful brick apartment houses or streetscapes like the one pictured above.

When I wrote the original piece, gas stood at about $2.80 a gallon.  I just filled up yesterday, and regular was $4.08 a gallon.  The trend to move inward, I believe, will accelerate with that kind of price pressure.  The downtown core will become home to more and more condo and apartment towers even though the numbers on those transactions are not particularly good in light of enormous construction cost hikes.  But, I believe, the real winners will be the primurbites.  The folks that have invested in the Goldilocks solution of not being in the maw of downtown nor in the baking plains of vinyl-clad suburbia.  It’s the midtowns, where restaurants and amenities thrive and where transit is quick to all points that the housing desirability index will get pegged.

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