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Cities are reclaiming properties unused in the past. These properties were considered nuisance properties but are finding a new life with the return of people making a return to the cities in a more upscale fashion. Many properties are available in the market today, some at very reasonable prices but this does not mean they are all good investments. However, due to the rising cost of fossil fuels and the renovating of inner city areas by city officials, urban areas will increase in value.
Shops are returning and the inner city is the place to own property, especially for investors. Large urban areas are reclaiming properties that were undesirable returning them to productive areas. Every city has only so much space to grow in and only so many areas will agree to annexation. For many, the only way to develop is to go up. This is seen in Miami and Atlanta. High-rise condominiums are very popular, allowing the young and educated to be close to work and have a thriving social climate as well.
|Jennifer Mathes, Ph.D.|