This Forbes article discusses how moving from the suburbs to these downtowns involves major financial and lifestyle considerations.
It didn’t take long after Warren Bland retired as a professor of geography at California State University, Northridge, for him and his wife Sarah to realize that 37 years was enough of suburban life. Too much driving and not enough entertainment were two big factors in their move to downtown Portland. “You don’t need the big suburban house. You don’t need two or three cars. And you can pocket some equity,” says Bland. For empty-nesters, moving downtown has the obvious allure of trendy restaurants, ample entertainment, quick commutes and a spare bedroom in a place your kids will actually want to visit. Even so, it’s not all upside. Along with their attractions, metropolitan hubs such as Philadelphia, Seattle and Chicago can be costly, lonely and crime-ridden. – From Forbes