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Text Box: everything we wanted. A wonderful innovation, but suburbia has become too big, and too unwieldy. Suburban is beginning to go out of fashion and the major trend now is toward open space”. In thinking about the professor’s prognostications, I have to admit they do hold some allure for individuals and investors that may

Text Box: Is there “pent up” demand for the more rural life? This article discusses a potential future trend in the real estate housing markets across the nation. Some think that the next big wave in housing will be a move away from the traditional suburbs toward the more remote parts of rural America. One of these is Jack Lessigner, a retired 84 year old professor from the University of Washington. He writes about this intriguing theory in his new book about a trend change in US real estate -Your Country - Boom or Bust? The Rise of Penturbia and the Fall of Suburbia. Lessigner’s research indicates the growth of the classic suburbs has actually been slowing since the 1970’s. Suburbia’s shrinking share of the US population growth will only accelerate in coming years. Lessigner’s bottom line is that the great trend that has moved millions of Americans into the suburbs after WWII has grown old and now they have become over crowded and too expensive. The suburbia trend is now a victim of its own success. As a result, Lessigner thinks many Americans will opt for a lifestyle that is calmer, less densely populated, and cheaper. This next rural living urge, born by the rapid pace and

Text Box: expensive living associated with the overcrowed suburbs, will now come into vogue. Thus, the pent-up demand for a new style trend he dubs “Penturbia”. In his forecast of the next American migration, people will flock to a place he deems “Penturbia” predicting the next great trend in urban development of rural regions. He does not mean places like Las Vegas or Phoenix, which are in his example the last great suburban settlements. Instead, Lessigner argues it is now time for the next living style trend. He looks to smaller urban places in rural areas like the Great Northwest, Idaho, North and South Carolina, Montana, and other such places where open space exists, and a slower paced quality of life is more desirable. It is equally important that in these places population growth and property valuations have not kept pace with current suburban trends. Lessigner believes this move to rural living will be powered in part by the Internet, which now allows many to work virtually from their homes or just about anywhere. “Suburbia has grown old”, the professor says. “It was paradise in the 40’s and 50’s. It was

Text Box: annual rate of 3.5%, in the first half of 2006 and slow to 3.1% in the second half. While those growth rates are considered respectable they fall short of the 4.1% average of the past 2 ½ years. While concerns about housing dominated the survey there were also concerns regarding the threat of higher energy prices with the price of oil expected to remain between $50 and $60 per barrel in 2006.

Text Box: A Wall Street Journal survey of economists’ forecasts a slowdown in the housing market, but a softening of the national housing markets is likely to slow the overall pace of growth. For the past five years several major real estate markets and lower interest rates have contributed to economic growth, providing consumers cash to buy everything from designer kitchens to second homes. But as home sales in these areas start to slow

Text Box: and the inventories of unsold homes starts to grow, many economists believe that home prices will grow more gradually, or even decline in some areas. This may deliver a jolt that causes consumers to rein in spending, and that in turn may cause economic growth to slow. The consensus forecast of 56 economists surveyed is that the nation’s Gross Domestic Product (GDP) – the broadest measure of economic output –will grow at an

“The next wave of US population migration to Penturbia” Is there a pent up Demand for rural life?