For large cities, the trend is to live in a high-rise within an integrated community with its own all-encompassing integrated feel, where you work, live, and play, although it appears the east coast (just look at Miami) is leading the west coast--
Big Deal - In Los Angeles, Condos Are a Tough Sell - NYTimes.com: "“While the idea of living in a condo in a sprawling city like Los Angeles is still tough to imagine for many who prefer more space, the area’s growing congestion is slowly shifting tastes, said Paul Habibi, a lecturer in real estate at the Anderson Graduate School of Management at the University of California, Los Angeles. Each of these communities — Brentwood, Santa Monica — is taking on its own all-encompassing integrated feel, where you work, live and play all within these communities,” Mr. Habibi said. But that transition is in its early stages, he said. . . .“A lot of that buyer pool,” Mr. Habibi said, “are your foreign buyers and bicoastal people who are looking for a low-maintenance alternative, a very nice place to live when they are in town.”. . . At the Century, in Century City overlooking the Fox movie studios, most of the buyers are owners of Los Angeles estates looking to downsize for more hassle-free living, Ms. Osborn said."
Yes, that's a key for the future of real estate--"looking to downsize for more hassle-free living."
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Sunday, May 6, 2012
Real Estate Trend: downsize for hassle-free living
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