This post is part of the continued series called Nour Minute. On a regular basis I write about people, topics, or perspectives that come across my radar, which may be of interest or value to you. They shouldn’t take more than a few minutes to read, internalize and further explore. #NeverStopGrowing. You can search the category on the right to find other similar posts in the series as well. As always, I welcome your feedback. David
Did you know that more than three-quarters (75%) of Americans cite location related reasons for moving. The “location, location, location” mantra of real estate still hits home in the U.S., confirms new research from The Demand Institute. But what’s more interesting is that while nearly half of all households plan to move in the future, they won’t go far – most within just 30 miles of their current home.
These trends are likely implications of today’s workplace and the current economy, says Jeremy Burbank, vice president of The Demand Institute, the non-advocacy, non-profit think tank jointly operated by The Conference Board and Nielsen. More jobs are less reliant on geography, allowing employees to do their work from almost anywhere, and more people choose to work from home.
But according to the just-released report – “Location Matters: Where America is Moving” – the right neighborhood trumps the right house for most Americans. Also, while some urban markets have boomed in recent years, more movers are actually pulling away from dense city centers rather than moving closer. The suburbs – and their bigger, more affordable houses and safer neighborhoods – will attract the most movers.
“Strong suburban demand is directly tied to the perception of what constitutes a safe neighborhood,” explained Louise Keely, president of The Demand Institute and senior vice president at Nielsen. “Most of us want to live where we feel safe, and that is quiet and well maintained. Unfortunately, we also know ‘safe neighborhoods’ are a top unmet housing need for many Americans – and one in five report that their neighborhoods are becoming less safe despite continued declines in crime nationally.”
Location and everything that comes with it has very important implications for community leaders and policymakers as they continue to position their communities for growth and improve quality of life.