Looking to get away from the hustle and bustle of the big city ? If so, you may be searching for that perfect suburb lined good schools, green spaces and two-car garages — but not so fast. With today’s exorbitant cost of living, some of those suburbs may come with a heftier price tag in 2025.
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To find out, let’s first ask an important question: What are some factors that can contribute to the rising cost of suburban living? The simple answer is supply and demand. Proximity to major metropolitan areas is primarily what creates an increased housing demand which, in turn, drives up home prices.
But, according to DJ Olo, host at The Foreclosure Fix Podcast , the rising cost of living does not simply come from housing prices, but is, in fact, “death by one thousand paper cuts.” As demand (and, therefore, growth) rises in a particular location, so too does the price of groceries, gas, property tax, restaurant dining and recreational activities. In other words, it’s a cascade.