The Revitalist

Nicolas Retsinas from Harvard's Joint Center for Housing Studies was on NPR's Morning Edition this morning wondering how the fallout from the housing market downturn will effect downtown revitalizations across the country. As he points out, many of the condo buyers in emerging neighborhoods are young couples, perhaps first time home buyers, who will no longer have as many mortgage options as they did a few years ago. Also, the empty nester wave that we all talk about so much is likely to be slowed down by the fact that it is harder for them to sell their suburban split level right now. Just another reminder that there is never a dull moment in the development business.