Who is buying urban condominiums? : a tale of four cities

This thesis is an analysis of the current trend in urban condominium and loft sales in the United States. It focuses specifically on the question of whom, demographically speaking, is buying the incredible influx of new urban residential products that has come onto the market since 2000. There is only anecdotal evidence gathered to date, where some claim that it is the empty-nesters abandoning the suburbs for the convenience of city life. However, there has not been the corresponding drop in suburban population levels or house sale levels to corroborate that hypothesis. Other market participants claim that the sales are primarily to investors, who are either renting or riding appreciation expectations to resell. If that is true, then there are considerable market implications for the future. Others project that it is an urban pied-a-terre trend; however the 2000 census only identifies 3% of the whole housing stock as seasonal, recreational, or second homes. This thesis pools and analyzes recent historical data in four urban downtowns: Atlanta, Boston, Chicago, and San Diego to determine what is happening in each city and to try to discover a national trend. It utilizes raw mortgage origination data, assessor's data, and surveys and interviews with developers and brokers in each of the four designated cities.

Department dc:contributor.department

Massachusetts Institute of Technology. Dept. of Architecture.

Grantor dc:publisher

Massachusetts Institute of Technology

Year dc:date.issued

2005

Authors dc:creator

• DeLaney, Robert M. (Robert Michael)
• Pizzuti, Linda K

Advisor dc:contributor.advisor

• William C. Wheaton.

• Architecture.

Statement dc:rights

• M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission.

Licence dc:rights.uri

• http://dspace.mit.edu/handle/1721.1/7582

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/1721.1/33200

OAI identifier oai:identifier

oai:dspace.mit.edu:1721.1/33200