A new age of suburbanisation could be dawning

THOUGH THE pandemic has not fully released its grip on America, signs of an incipient boom are everywhere: in surging demand for workers, imports and, above all, houses. Residential property prices rose at an annual rate of 12% in February—the fastest pace since 2006—buoyed by rising incomes, low interest rates and the belated plunge into housing markets by a crisis-battered generation of millennials. A clear preference for large but affordable suburban homes over pricey city-centre flats seems to be emerging. That covid-weary Americans might be eager for suburban life is hardly surprising. Yet the latest pursuit of leafiness and expansive floor plans contains hints of a potentially transformative shift in how Americans choose where they live.