Semi-New-Urbanism/conservation suburban development outside Atlanta, Georgia

"The potential home buyer today has seen pictures of Detroit, with former neighborhoods being gradually reclaimed by Nature or plowed under into farmland. Recognizing that his or her own city could become like that in 20 years time, the buyer will factor that into the price he or she is willing to pay. In the event of a Detroit-style decline, the house becomes worthless and the cost of ownership for 10 years or so effectively tripled (10 years x 5 percent is approximately equal to 50 percent of the home’s value, then add another 100 percent for the cost of throwing the house away). Suppose the buyer thinks that this has a 20 percent probability of happening. Given a typical person’s risk aversion, that might reduce the market-clearing price for a house by 25 percent."

Just one hour from Chicago and minutes from Lake Michigan beaches, harbors and golf courses, the Dunes National Lakeshore and the pleasures of Michigan's Harbor Country, Tryon Farm appeals to a range of people, from year-round residents to families who ne

Tracking Metropolitan development