It's very predictable that there will be post-pandemic changes in attitudes
Space-Starved Buyers Flock To Master-Planned Communities
July 29, 2020 By Dees Stribling, Bisnow National
Quote:
In only a few months, the coronavirus pandemic, along with a side of unexpected social unrest in some places, has made people rethink urban living. That new fear of density has been boosting master-planned communities.
"This is the kind of thing we're seeing," Layne said. "A couple from a northeastern city Googled master-planned communities and one of the results was Bridgeland. Sight unseen, they leased an apartment here, and are now planning to buy a house. They thought now was the time for that kind of change."
The interest in master-planned communities in states like Nevada and Texas is more than just a reflection of the pandemic, Summerlin President Kevin Orrock said. "People are still looking to get away from high-tax, high cost-of-living places," he said. ""That isn't going to change."
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This is why I often rant about not having unnecessary business-unfriendly taxes or excessive red tape requirements. When people are younger but maturing at some point they will assess their own budget priorities. When business chooses to expand and/or relocate costs are paramount - along with certain non-cost priorities.
The natural evolution of Millennials
Once one passes the age of 25 years old on their way to 30, typically a lot of growth in 'maturity' takes place. Many will have found the partner of their dreams and decide they want a family; they want to buy their own place.
When just out of curiosity they decide "Let's just go check it out" and drive out to the suburbs to find fenced in back yards for their children and pets they quickly fall in love. Others will decide "Nah, I don't won't to live this far out." Everybody is different.
Metro Denver is growing rapidly; is growing up and maturing
While we don't focus here on industrial-warehouse development it is the one segment that hasn't skipped a beat. It's still (relatively) HOT. While it will never reach the size of Phoenix, for example, Denver is large enough to support and have its own 'logistics' capacity. Ofc yesterday's 'warehouse' is today's 'fulfillment' center or just-in-time access to key industries or just provides better access to everyday nuts and bolts, celery and tomatoes.
There's a lot of 'industrial' development out east including nearby to I-70 and E-470. These industries provide solid, stable job opportunities even if nothing like tech-bro status. More affordable 'sprawl' only make sense for this part of the economic engine.