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COMMENTS: Downtown Moves Upmarket
Staying Afloat is NBC's series on the adjustments people make in tougheconomic times. Monday, Savannah Guthrie kicked off on the impact of the high price of food. Tuesday, Tom Costello covered the switch from cars to mass transit in the face of gasoline hikes. Now Kevin Tibbles looks at trends in the housing market. Real estate values are falling faster in the suburbs than in downtown areas, he told us, because urban homes are cheaper to heat and require a shorter commute. "There was a time when this section of downtown was considered a dead zone filled with old factories and parking lots," Tibbles told us from Minneapolis. "Today it is alive with the sound of new construction."
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