Runyon's Argumentative Essay: The Back To The City

“A minority opinion out there says, “The ‘back to the city’ trend is oversubscribed; not so many people care about walk-ability to a coffee shop; the majority of the U.S. is not on board with this. Don’t discount housing affordability as a factor for families, and this disadvantages gateway cities.” No doubt there’s a kernel of truth there, and one size does not fit all. But keep in mind Damon Runyon’s streetwise advice: “The battle is not always to the strong, nor the race to the swift—but that’s the way to bet!” Housing is well on the way back, say the Emerging Trends survey respondents, and they rank urban/infill as the top opportunity for 2015. Despite talk of lingering over indebtedness and the lack of savings on the part of potential
home buyers, the consensus reads this way: both for investment and for development, upper income housing and moderate-income housing score equally well. Multifamily condominiums are just behind, and roughly in the same ballpark as affordable housing. An interviewee sees significant infill condo opportunities in 2015. A private equity investor thinks a serious look should be given to “condos where the markets haven’t take off yet. Remember that millennials will become homeowners at some point, but where—city or suburb?” The answer is probably “both/and,” not “either/or.” – https://www.pwc.com/us/en/asset-management/real-estate/assets/pwc-emerging-trends-in-real-estate-2015.pdf
Although there are various property typed in the Real Estate Industry; such as house & lots, condominiums, leisure homes, golf course communities, etc.; the Millennials are the ones being held responsible for the movement in the market. They seemed to be the one who have the highest purchasing power in the arena.