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Brief History
Brief History
The Federal Housing Administration (FHA) was created in 1934 following the great depression with the intention to provide programs to insure mortgages and stimulate growth. However, after the completion of World War II, the need for housing returning veterans and baby boomers became essential due to a growth in population. With the help of the GI Bill in 1944, which provided benefits such as guarantied home loans and low-interest mortgages, many Americans moved away from cities and into the suburbs. The government didn’t exactly give veteran’s money to purchase homes, businesses, or farms; instead, it pledged to back veterans’ borrowing which made it easier for them to get credit. In turn, this became a major driving factor of post war era prosperity. Techniques of mass production made it possible to build homes faster and cheaper than ever before. Using an assembly-line system, the construction firm Levitt and Sons built three giant "Levittown" suburbs in New York, New Jersey, and Pennsylvania. As a result, of low prices and veterans' benefits, more Americans could afford to own homes than ever before.
The Federal Housing Administration (FHA) was created in 1934 following the great depression with the intention to provide programs to insure mortgages and stimulate growth. However, after the completion of World War II, the need for housing returning veterans and baby boomers became essential due to a growth in population. With the help of the GI Bill in 1944, which provided benefits such as guarantied home loans and low-interest mortgages, many Americans moved away from cities and into the suburbs. The government didn’t exactly give veteran’s money to purchase homes, businesses, or farms; instead, it pledged to back veterans’ borrowing which made it easier for them to get credit. In turn, this became a major driving factor of post war era prosperity. Techniques of mass production made it possible to build homes faster and cheaper than ever before. Using an assembly-line system, the construction firm Levitt and Sons built three giant "Levittown" suburbs in New York, New Jersey, and Pennsylvania. As a result, of low prices and veterans' benefits, more Americans could afford to own homes than ever before.
Today
Today
Generally, the term “Suburb” is used to describe a smaller community located within commuting distance of a large city. Suburban housing dynamics increasingly reflect some of the most profound issues shaping our society, including aging, immigration, economic mobility, and evolving consumer preferences. Historically, the concentration of talented young workers has been seen as key to attracting large employers to popular cities in order to promote growth, however, with the increase of competition for space and the rent expenses that are rising faster than obtainable salaries, more individuals are deciding to move into the suburbs. Today, the popularity of the suburbs is steadily increasing in the U.S, according to the U.S Census Bureau’s American Housing Survey, just over half of all Americans say they live in a suburban neighborhood compared to the 27% who live in an urban environment, and 21% who live in rural areas. With a large influx of people moving out of cities and into the suburbs, the suburbs are now taking a chance on mixed-use, walkable, millennials-attracting development. Moving forward, the suburbs will generate substantial residential development and redevelopment opportunities as well as challenges in the years ahead.
Generally, the term “Suburb” is used to describe a smaller community located within commuting distance of a large city. Suburban housing dynamics increasingly reflect some of the most profound issues shaping our society, including aging, immigration, economic mobility, and evolving consumer preferences. Historically, the concentration of talented young workers has been seen as key to attracting large employers to popular cities in order to promote growth, however, with the increase of competition for space and the rent expenses that are rising faster than obtainable salaries, more individuals are deciding to move into the suburbs. Today, the popularity of the suburbs is steadily increasing in the U.S, according to the U.S Census Bureau’s American Housing Survey, just over half of all Americans say they live in a suburban neighborhood compared to the 27% who live in an urban environment, and 21% who live in rural areas. With a large influx of people moving out of cities and into the suburbs, the suburbs are now taking a chance on mixed-use, walkable, millennials-attracting development. Moving forward, the suburbs will generate substantial residential development and redevelopment opportunities as well as challenges in the years ahead.
Whats the appeal?
Whats the appeal?
Historically, the suburbs offered what life in the inner-cities and rural countryside could not – bigger and more affordable homes, more space, increase privacy, and safer streets (lower crime) – without sacrificing access to jobs.
Historically, the suburbs offered what life in the inner-cities and rural countryside could not – bigger and more affordable homes, more space, increase privacy, and safer streets (lower crime) – without sacrificing access to jobs.
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