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Author: inparadise Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127222  
Subject: Location, Location, Location Date: 10/11/2013 9:05 PM
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http://homes.yahoo.com/news/why-location-matters-real-estate...

Decent article on what makes a good/bad location for a purchase. This one is my fave, and one that too often gets ignored:

2. Good schools

Being in a good school district is important, even if you don’t have school-age kids and never plan to have any. Fact is, young families always will be buying their first or second homes. They will do their home search based on location in general and good school districts in particular. The better the school district, the higher the values of the surrounding homes can be.

Found a home you love but the school district is subpar? Be aware of that issue for resale down the road. Bottom line: When you buy a home, you should always think like a future seller.


A good school district will help your home retain value in a housing decline, help it to higher heights of value in a rise. Even if you never plan on having kids, it is important to consider.

IP
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Author: pauleckler Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126427 of 127222
Subject: Re: Location, Location, Location Date: 10/11/2013 9:29 PM
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I think this matters most in areas where families tend to locate. Ie the suburbs. There families with children are a major market when you decide to sell your home. So certainly you want to buy where the schools are quality and you want to support school bond issues etc while you live there.

Places with poor schools tend to attract a different group of buyers. We have that situation in the city of St. Louis where public school are considered poor. Families that buy there often plan to send their children to private school or parochial schools. Quality (and ability to get your child admitted) can matter in that case. Otherwise, homes tend to be sold to singles, retirees, etc, and others without children. It's a different market.

The bottom line is know your market, who your target buyer is, and what matters to him or her.

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Author: inparadise Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126428 of 127222
Subject: Re: Location, Location, Location Date: 10/12/2013 7:45 AM
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I think this matters most in areas where families tend to locate. Ie the suburbs.

This is the old way of thinking. The large houses in the suburbs are increasingly being discarded as an option by young families for the townhouse/condo in the city. This generation has seen their parents be slave to the lawn, and they reject that concept, wanting the city action or at a minimum walkable areas with short commutes. The Exburbs have already suffered greatly, and though the closer suburbs still have their market there is some question as to how strong that will remain going forward if they don't start allowing walkable "town center" communities. Our area was stupid enough not to allow a proposal a couple of years ago.

IP

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Author: reallyalldone Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126429 of 127222
Subject: Re: Location, Location, Location Date: 10/12/2013 9:07 AM
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A good school district will help your home retain value in a housing decline, help it to higher heights of value in a rise. Even if you never plan on having kids, it is important to consider.

Colorado has open enrollment so it can matter less here.

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Author: PSUEngineer Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126430 of 127222
Subject: Re: Location, Location, Location Date: 10/12/2013 11:18 AM
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This is the old way of thinking. The large houses in the suburbs are increasingly being discarded as an option by young families for the townhouse/condo in the city. This generation has seen their parents be slave to the lawn, and they reject that concept, wanting the city action or at a minimum walkable areas with short commutes. The Exburbs have already suffered greatly, and though the closer suburbs still have their market there is some question as to how strong that will remain going forward if they don't start allowing walkable "town center" communities. Our area was stupid enough not to allow a proposal a couple of years ago.

The title of this thread is an appropriate response to your post. That may be the trend in your location but it isn't in mine.

PSU

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Author: vkg Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126431 of 127222
Subject: Re: Location, Location, Location Date: 10/12/2013 12:16 PM
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The Exburbs have already suffered greatly, and though the closer suburbs still have their market there is some question as to how strong that will remain going forward if they don't start allowing walkable "town center" communities

Exburbs are more sensitive to downturns because people would prefer a shorter commute. Locally, they are always the first to drop in price and slow to recover.

Here, condo prices haven't recovered much. Their lack of outdoor space and high density living is clearly making them less desirable. City life has major downsides for families, plus the general noise and crime problems. With both parents working in most young families, schools are the most critical item.

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Author: inparadise Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126432 of 127222
Subject: Re: Location, Location, Location Date: 10/12/2013 12:18 PM
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Millennials — or Generation Y — is the next generation of consumers. Not only do their values and behaviors differ from their parents, but what they look for in a home does, too.

Ashley Hanks and Casey O’Brian, both age 29, are two such homeowners. The couple just bought a condo on the Upper West Side of Manhattan and say that while their parents' generation was more concerned with family ties and staying put in large homes outside the city, these days young people are prioritizing differently.

“Our careers are most important to us and also being close to travel opportunities, being close to friends and being close to a lot of the experiences we want to have. This apartment really allowed us to continue our lifestyle,” Hanks tells Destination Home.


The video is better than the text.

http://finance.yahoo.com/news/the-next-real-estate-boom--get...

The real estate industry has changed dramatically over recent years as home values fall and people move out of the suburbs back into cities.

http://www.amazon.com/gp/product/1118826132/ref=as_li_ss_tl?...

These are just a couple of links I got from Googling, similar to articles I've been reading for years. As always, YMMV, but based on retirement chat boards I've been on lately, retirees are also interested in a walkable community, looking to down size from the home they raised their family in, to something more manageable that does not continually require a car or have yard maintenance.

That may be the trend in your location but it isn't in mine.

I firmly believe this is the emerging trend, though it is more detectible in some places than others and of course may not happen everywhere, I do believe it is the future. It bears watching.

IP

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Author: PSUEngineer Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126433 of 127222
Subject: Re: Location, Location, Location Date: 10/12/2013 12:30 PM
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of course may not happen everywhere

Shocking .... hmmmmm

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Author: inparadise Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126434 of 127222
Subject: Re: Location, Location, Location Date: 10/12/2013 12:41 PM
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Their lack of outdoor space and high density living is clearly making them less desirable. City life has major downsides for families, plus the general noise and crime problems. With both parents working in most young families, schools are the most critical item.

A walkable community is not always about the city. However, it contains open space that is maintained by an HOA, stores and offices that you can walk to. Our suburb turned down one of these developments as too congested, which is a real shame, as you could have gotten a single family home, townhouse or condo, as well as being walk to train for the city commute. And it had a ton of open space with walking trails, dog park, etc. Here's an article from 2011 from a town center being proposed in WI, quite a ways from us:

But this is where city officials hope to see a bit of urban development in the form of multistory apartment buildings with street-level commercial space - largely unheard of in Mequon. They say the project would help create a "town center," while also generating property taxes to help pay down a city debt tied to the development site.

"This is a significant step forward in urbanizing a small portion of a suburban community," said Mayor Curt Gielow. "It puts some vibrancy in the area to attract some other things."


http://www.jsonline.com/business/mequons-town-center-proposa...

And here's an article about Vail:

Trends: Homeowners look for walkability, fewer square feet in new mountain market
KIM MARQUIS | Thu., June 27, 2013 @ 2:18 pm
inShare0
VAIL—If recent findings about new housing demand after the national recession are correct, homeowners in the mountain West will look for a different kind of living situation, one that closer resembles city living than the quintessential cabin in the woods.

Homes will be smaller, attached or placed very close together, and definitely within walking distance to shops and restaurants. What happened to the desire to own a cabin in the woods? For one thing, whether they are truly cabins or McMansions sitting on 40 acres miles from the closest town, rural sprawl has never been eco-friendly.


http://www.denverijournal.com/article.php?id=8995

Lots of other examples on line, but one thing is clear is that people want the city convenience no matter where it's located. Not a regional trend.

IP

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Author: inparadise Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126435 of 127222
Subject: Re: Location, Location, Location Date: 10/12/2013 12:44 PM
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LOL. It's OK, PSU. I'm sure there will always be a market for McMansions like yours...in your lifetime anyway.

IP,
seeing the writing on the wall and getting rid of her too large house while a strong resale market for them is still in existence

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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126436 of 127222
Subject: Re: Location, Location, Location Date: 10/12/2013 12:45 PM
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IP:

Ashley Hanks and Casey O’Brian, both age 29, are two such homeowners. The couple just bought a condo on the Upper West Side of Manhattan and say that while their parents' generation was more concerned with family ties and staying put in large homes outside the city, these days young people are prioritizing differently.

...

These are just a couple of links I got from Googling, similar to articles I've been reading for years. As always, YMMV, but based on retirement chat boards I've been on lately, retirees are also interested in a walkable community, looking to down size from the home they raised their family in, to something more manageable that does not continually require a car or have yard maintenance.


OK, I'm confused. The first time I heard the subject line I kicked the slats out of my cradle. You started this thread stressing the importance of good schools. Now you're talking about future market movers, citing urban DINKs and empty-nesters, both of whom couldn't care less about schools.

So which is it? Are schools important or not? Or, like so many things in life, it depends? Here in Metro DC the city itself is people who can afford to live well, including sending their children (if they have them) to something other than the abysmal DC public schools, and people who can't afford to get out. I think some of those leafy suburbs with stately homes and big yards you mention do exist, but out here, where 10 years ago this was a cornfield, I can see from my apartment windows block after block of townhouses. Here in the People's Republic of Montgomery County (MD) we spend a fortune on education, and it's worth it.

While I agree that the quality of the schools is probably important in most places, it's way far down the list for someone looking to buy in DC.

Phil
Rule Your Retirement Home Fool

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Author: Rayvt Big gold star, 5000 posts Top Favorite Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126437 of 127222
Subject: Re: Location, Location, Location Date: 10/12/2013 12:53 PM
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Lots of other examples on line, but one thing is clear is that people want the city convenience no matter where it's located.

Really?

People like the noise, the crowdedness, the crime, the taxes, the lack of parking of a city center?
They like to walk everywhere? Prefer to walk on city streets in rain, snow & slush, and heat & humidity, than to hop in their car and travel in private comfort?

Color me doubtful. I'll grant that a small percentage of people are like that, but doubt that most are.

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Author: reallyalldone Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126438 of 127222
Subject: Re: Location, Location, Location Date: 10/12/2013 1:27 PM
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And here's an article about Vail:

No one should consider anything about Vail to relate to their real estate market.

OTOH, my suburban home south of Denver is totally walkable and only a mile from light rail.

As you said location, location, location. I usually say all real estate is local but then I don't consider myself an expert on real estate.

rad

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Author: vkg Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126439 of 127222
Subject: Re: Location, Location, Location Date: 10/12/2013 1:28 PM
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For one thing, whether they are truly cabins or McMansions sitting on 40 acres miles from the closest town, rural sprawl has never been eco-friendly.

This comment raises questions about the motivation for the article.

Increased population is causing higher density housing. It doesn't mean that is what is really wanted, but it is what is available. Locally, there isn't any close real estate that isn't developed. The only option to increase the number of residents is to increase density. It is also the reason that prices are increasing for older homes.

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Author: inparadise Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126440 of 127222
Subject: Re: Location, Location, Location Date: 10/12/2013 1:35 PM
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OK, I'm confused. The first time I heard the subject line I kicked the slats out of my cradle. You started this thread stressing the importance of good schools. Now you're talking about future market movers, citing urban DINKs and empty-nesters, both of whom couldn't care less about schools.

So which is it? Are schools important or not?


LOL. Well, it is a discussion, which by nature tends to broaden with input from others.

The quoted article was in support of showing that the younger generation is trending away from the large house on a large lot, not just in a regional way local to me. Did you view the video as I suggested? "Millennials are young adults between the ages of 18 and 35..."The DINKs interviewed were simply one example of that age group. I really didn't want to spend a whole lot of time documenting things I've been reading for years. Convincing you guys is not that important to me.

It's basic supply and demand...good school districts in the region of your need will have more buyers, assuming other needs are met as well. And it's relative...buy in the best school district you can afford for your needs tends to be a good rule of thumb. Sometimes you don't have a lot of choice.

Even when we look for a property to use as a vacation rental we look for a good school district. Won't use the schools, but want to be able to sell it someday, and a good school district helps to insure property values stay high.

IP

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Author: inparadise Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126441 of 127222
Subject: Re: Location, Location, Location Date: 10/12/2013 1:40 PM
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Me: people want the city convenience no matter where it's located.

...


People like the noise, the crowdedness, the crime, the taxes, the lack of parking of a city center?

Does that sound like the town center in Vail? You are describing the inconveniences of the city, not the conveniences. These town centers can be out in the burbs or on a mountain in CO, where you can have city like convenience without the crime, pollution and noise. If you like I can link an 58 page white paper on the importance of planned parking in these centers, but you probably would jump to conclusions before reading that too.

IP


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Author: pauleckler Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126442 of 127222
Subject: Re: Location, Location, Location Date: 10/12/2013 2:39 PM
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The large houses in the suburbs are increasingly being discarded as an option by young families for the townhouse/condo in the city.

Know your community. There are people who love the hustle and bustle of the city and prefer to live there. New York City is one of those. But if you have children, you plan to send them to private school. $$$ Otherwise you move to a suburb with good schools and an easy commute (if you can afford a house there).

St. Louis and many midwestern cities are dying downtown. People and employers are moving to the suburbs. Suburbs is the place with the good public schools.

St. Louis has an innerbelt highway and an outterbelt highway. Both jammed at rush hour, but its remarkable how traffic thins when you get inside the inner belt. Most employers now locate near one of the highways rather than downtown. Downtown retains a few employers but mostly it has become a govt center and place for pro sports and conventions. People dream of gentrification downtown and last year they even got a grocery store.

One size does not fit all. But know the area where you plan to buy.

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Author: pauleckler Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126443 of 127222
Subject: Re: Location, Location, Location Date: 10/12/2013 2:53 PM
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one thing is clear is that people want the city convenience no matter where it's located.

The next communities closer to the city here have a "Great Streets" program hiring experts to advise on what to do about their main highway (Manchester Rd or Rt 100 in the St. Louis area), which was built mostly in the sixties and tends to be mostly strip mall style.

The experts keep telling us people want housing close to shopping centers with restaurants and shopping. This means you can walk some places and not need a car for every item. It's a more casual, less hectic lifestyle. With lawns, trees, and trails.

I'm aware of a community like this in Princeton, NJ (in West Windsor on US Rt 1). The highway in front was so jammed with traffic at rush hour, you could not get into the grocery store parking lot. So it closed.

Traffic is the enemy on Manchester Rd. too. Where do you put the cars if you make it friendly to pedestrians? Probably you can't do both. And as we have undeveloped land further west, traffic is probably destined to increase.

Public transportation light light rail is probably the right answer, but no one is willing to put up the bucks. So looks like autos are our future (and bicycles if you are willing to take your life in your hands to ride one in traffic).

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Author: xtn Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126444 of 127222
Subject: Re: Location, Location, Location Date: 10/14/2013 10:48 AM
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Sooooooooo... we're going from "not in my backyard" to "downstairs please?"

Personally I don't like middling suburbia very much. I prefer the walkable and sociable city convenience of the "town center" concept. Except for when I prefer the ownership of acreage where I can take my boys fishing, riding dirtbikes, building a treehouse, roasting marshmellows on a campfire under the stars, mending fences, planting a garden, tuning up the lawn-mower engine, making a fort out of hay bales, etc.

Middling suburbia is in between those ideals, and is therefor boring. Like a boring family sedan that tries to be average in all things. I much prefer a small sports car and a big pickup truck.

xtn

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Author: vkg Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126445 of 127222
Subject: Re: Location, Location, Location Date: 10/14/2013 1:13 PM
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Public transportation light light rail is probably the right answer, but no one is willing to put up the bucks.

Light rail is money sink. Politicians feed on it. After it is built, the "public service" unions feed on it.

It is a mess locally. The BART unions need to loose the right to strike.

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Author: pauleckler Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126446 of 127222
Subject: Re: Location, Location, Location Date: 10/14/2013 1:27 PM
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Yes, the jobs are usually union. But building cities at higher density and then having people drive everywhere is not practical. Even if they live in the suburbs, you cannot continue building bigger highways forever.

Eventually we have to have reliable mass transit systems.

Rising energy costs make long commutes even less practical.

Changing lifestyle to live close to work or telecommuting makes a lot of sense.

NJ has the problem that NY harbor is a valuable asset that is not easily replaced. Yet rising population means congestion, making it hard to get freight in and out of the port.

We no longer need everyone to live in a few large cities. More midsized cities would be a very good idea. And especially away from seaports, which still are valuable assets to commerce.

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Author: spinning Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126447 of 127222
Subject: Re: Location, Location, Location Date: 10/15/2013 12:49 PM
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Changing lifestyle to live close to work

The difficulty is that people change jobs much more frequently than they used to. These job changes can occur every few years and can take someone from one end of a metro area to another. Unless people are willing to move everytime they change jobs, commutes are inevitable. Right now I live less than a mile from my office and often walk. But in a year the office is moving and walking will be impossible. I don't foresee either moving my residence or changing jobs, so I will no longer live close to work. Then there are couples with two jobs across a metro area. I don't see how the ideal of living close to work actually becomes a reality for most people.

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Author: PSUEngineer Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126448 of 127222
Subject: Re: Location, Location, Location Date: 10/15/2013 12:54 PM
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Then there are couples with two jobs across a metro area. I don't see how the ideal of living close to work actually becomes a reality for most people.

My wife's job and mine are at locations that are 25 miles apart.

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Author: pauleckler Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126449 of 127222
Subject: Re: Location, Location, Location Date: 10/15/2013 3:24 PM
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Yes, you hit the issues on the nose.

As populations continue to grow, major urban areas must build up, increasing population density. The traditional urban sprawl is still attractive as people like green grass and fresh air and to escape noise, crime and other problems.

Rising energy costs favor short commutes. Rising population means unless we get effective mass transit, our urban centers will strangle in congestion, traffic, and a mass of highways.

Mass transit is the best solution. But how do you fund it? How do you make it attractive for people to use it?

These are not new issues, but they become increasingly imperative in many cities.

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Author: inparadise Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126450 of 127222
Subject: Re: Location, Location, Location Date: 10/15/2013 3:55 PM
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Mass transit is the best solution. But how do you fund it? How do you make it attractive for people to use it?

Making it cheaper than driving in and parking in a city garage would go a long way to encouraging people. I consider using our train service when I have to go into Philly, and opt for the garage every time. It's barely cheaper even with just one person in the car. I remember the T in Boston being much cheaper. I used it all the time.

As populations continue to grow, major urban areas must build up, increasing population density. The traditional urban sprawl is still attractive as people like green grass and fresh air and to escape noise, crime and other problems.

You guys seem to continue to confuse the "Town Center" approach with living in the city. It simply means mixed zoning, allowing a walkable community with residential, stores, restaurants, offices...even a hotel in the one that our suburban township turned down. Think of it as living in the center of a small town, rather than urban living.

Lots of developments going up around here again, almost all of them townhomes rather than the traditional 1 acre min zoning. Many of these townhome communities are selling out within months of breaking ground, surprisingly even with the crappy location of backing up to highways. No doubt the lower entry price point coupled with the excellent school district is influencing the sales rate. There is very little existing resale inventory in our school district.

IP

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Author: pauleckler Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126451 of 127222
Subject: Re: Location, Location, Location Date: 10/16/2013 1:33 PM
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I agree the town center concept is a good idea, and seems to be having some success. When the town center includes a full array of jobs, short commutes are possible. But more often town center is about retail meaning that long commutes to jobs are still necessary. We hope that changes. Otherwise, those town centers need to be connected by mass transit.

New York city is on record with its method of keeping subway fares affordable. Manhattan is an island. Nearly all access bridges are toll bridges. Tolls subsidize subways.

London also has a congestion tax. To drive downtown, you must pay a fee. They scan license plates to see who should pay, and fine those who fail to pay. This is another way of collecting funds that can be used to subsidize mass transit.

Both methods penalize driving your own car and encourage use of mass transit.

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Author: inparadise Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126452 of 127222
Subject: Re: Location, Location, Location Date: 10/16/2013 3:31 PM
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I agree the town center concept is a good idea, and seems to be having some success. When the town center includes a full array of jobs, short commutes are possible. But more often town center is about retail meaning that long commutes to jobs are still necessary. We hope that changes. Otherwise, those town centers need to be connected by mass transit.

Which is why our town was stupid for turning the town center development down. Light rail into the city was right there, or at least would have been since the developer would have defrayed the costs to extend it to the development and put in a station. Heck, you could have even commuted to NYC from here, with a change in Philly.

Even not having to battle traffic to get to the grocery store, or need to drive to the park would have been nice. Our house is well located for walking to hiking trails, but many need to fight over the tight parking at the nearest state park.

IP

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Author: vkg Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126453 of 127222
Subject: Re: Location, Location, Location Date: 10/21/2013 4:15 PM
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You guys seem to continue to confuse the "Town Center" approach with living in the city. It simply means mixed zoning, allowing a walkable community with residential, stores, restaurants, offices...even a hotel in the one that our suburban township turned down.

Even office buildings don't easily mix with residential. I am in a suburban area that mostly matches your description. Retail and some offices are in walking distance. Mixing retail/offices with residential has issues. Even timing of garbage collection is contentious. Light industrial has more issues. Because of insurance costs, businesses don't want any child centric locations close.

There are always complaints about any store that requests a liquor license. There was an attempt to prevent a neighborhood Walmart that replaced a grocery (that sold liquor) from obtaining a liquor license, because there are too many places that sell it. It will change the location of liquor sales, but I doubt it will really change the total amount sold.

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Author: pauleckler Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126454 of 127222
Subject: Re: Location, Location, Location Date: 10/21/2013 5:35 PM
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Good point, vkg. In mind's eye, Town Center seems to make sense, but thanks for noting some of the challenges.

Another one is grocery stores. You can build apartments near grocery stores, but given the intense competition from say Walmart and low profit margins, will that grocery store survive?

Perhaps they need to be satisfied with groceries from Walgreens or a convenience store.

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Author: foo1bar Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 126455 of 127222
Subject: Re: Location, Location, Location Date: 10/21/2013 6:28 PM
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You can build apartments near grocery stores, but given the intense competition from say Walmart and low profit margins, will that grocery store survive?

I lived in an apartment that there was a Walmart only ~10 min drive away, and a convenience store ~3 min walk away. But the grocery stores were ~15 min drive away. (two different directions, but both were ~15 minutes)
We were very annoyed with driving to the grocery store - but still had to do it to get the groceries. We probably visited walmart about once a month, but grocery stores at least once a week.

Now I have two grocery stores ~5 minutes away, and Target is farther away. Maybe we go to Walmart/Target a little less - but not much.

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