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Migration From The Suburbs
Jan 2, 2007By: Jacob Courtade -
With long commutes living in the suburbs of U.S. cities, wealthy American families are moving back to cities by building mansions in urban areas. "What's happening across cities is that land prices have increased really fast, so that the land becomes so expensive relative to structure that it makes sense to tear down the house and build bigger," says Morris Davis, an economist at the University of Wisconsin. The trend to build these giant urban mansions has created tensions with local housing review boards and zoning laws. The mansions building trend is being pushed by a libertarian movement, promoting property rights. "Arizona's Proposition 207, a homeowner protection referendum, will in January allow home sellers to petition the government if local zoning boards limit their ability to profit from the use of their land," states Patrik Jonsson.