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May 29, 2005
Tech will cause a real estate crash.
(CNN) Given the nature of real estate, he warned that even a drop in demand by 20 percent could cause prices to be cut in half. Nielsen said that technology would make it ever more attractive to live in small towns and rural areas, which would undermine many of the advantages currently held by big cities.
Despite these lifestyle trends, it will still be necessary to travel to central cities occasionally, and some people will continue to prefer urban life. But overall, the balance between remote regions and the center will change in favor of a more distributed lifestyle, resulting in a real estate crash.
Posted by Don at May 29, 2005 10:03 PM
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