Coming out of the 2008 recession led a trend of Americans shifting to urban living, and for logical reasons. After all, the housing market had just crashed; apartment living and construction was so much safer of an option. But now, for the first time in 3 years, suburbs are once again tipping the growth scale in their favor.
Fourteen of the nation’s twenty largest cities have had slowing growth, and some have even had their populations fall. Technically, however, there is still more city growth across the nation, something that has never been seen historically. Since America’s founding, there has always been more people trying to escape the cities to a suburban life, especially post-World War II. But now, whether due to lifestyle choices or the economy, city growth and suburban growth are just about even.
As far as the effect on the economy goes, no one is quite sure whether city or suburban is better. City growth often leads to more industry and conventional business, while suburban often fosters innovation and out of the box thinking. While a good balance of both is key, a faster growth in one might spur the economy more than the other.