It should be no surprise that sales of condominiums and townhouses are on the rise. According to the Urban Land Institute, single-parent households, single-person households, empty nesters, and couples without children now make up the majority of American households.
Many are choosing to live in the city where they are closer to their workplaces and where they can have a maintenance-free lifestyle.
And they want to drive less. One survey shows that residents of townhouses, condos, and apartments decreased vehicle miles traveled by 38 percent from when they lived in a single-family home. According to the American Public Transportation Association, ridership on public transportation jumped to the highest level in five decades in 2006.
While some condo buyers seek upscale units, many properties are reasonably priced. Some buyers consider them their "starter homes."
Residents of high-density housing say it's wonderful to be able to walk to places they want to go.
Blessings to your Real Estate Investment Riches,
Milton B. Yateswww.miltonyates.com
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