Monday, May 10, 2010

Change in demographics and real estate!

Daily Real Estate News  |  May 10, 2010  |  

More Minorities Head to the Suburbs
Suburbs are becoming more multicultural and increasingly impoverished, according to an analysis of census data by the Brookings Institution.

Arizona and nine other states lead the nation in a growing trend with an increasing number of communities that are divided between senior white populations combined with large minority families.

A majority of all racial and ethnic minority groups in the largest metro areas live outside the city. The suburbs now have the largest poor populations in the country. In addition, they are home to the majority of baby boomers, ages 55 to 64, who strain social services as they age.

Meanwhile city centers are becoming whiter. "A new image of urban America is in the making," said William H. Frey, a demographer at Brookings who co-wrote the report. "What used to be white flight to the suburbs is turning into 'bright flight' to cities that have become magnets for aspiring young adults who see access to knowledge-based jobs, public transportation, and a new city ambiance as an attraction."

Read more about the State of Metropolitan America.

Source: The Associated Press, Hope Yen (05/09/2010)

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