Stephen M. Spaeder, SVP of Acquisitions and Development at Equus Partners – a real investment and development firm located in Newtown Square, has an article in the Philadelphia Business Journal, Viewpoint: Confluence of recent events is likely to accelerate urban withdrawal, looking at whether we will see a drop in demand for real estate in Philadelphia‘s Central Business District (CBD) and an increase demand for real estate in the Philadelphia suburbs and in business friendly states?
Mr. Spaeder points to both the recent lock down and protests, as factors which would speed up which many have already been predicting. A number of real estate investors have pointed out the demographic trend of aging Millennials which could lead to an increased desire for homes outside the city. This trend along with the recent lock downs could lead to an increased demand for commercial real estate in the outer suburbs.
Some interesting points Mr. Spaeder made in the article: