A home is a significant investment for any family, and smart growth helps make that investment a good one. Homes of all kinds in stable, economically healthy neighborhoods can build wealth not just for a family, but for an entire community, and smart growth can play a huge role in that process.
Smart growth helps homes retain their value.
In a study of housing prices in the country’s largest metro areas, home prices were most stable within a 10-mile radius of the center of the city and generally worsened as that distance increased.
Fewer foreclosures happen in smart growth areas.
The subprime mortgage crisis of recent years was most pronounced in sparsely populated distant suburbs, far from city centers. Real estate pricing website Zillow.com recently analyzed home sales data for major metropolitan areas across the United States and found that home prices were harder hit by the recession as they moved further from the center of metropolitan areas.