Is America’s middle class getting stuck up a suburban cul-de-sac, surrounded by ‘for quick sale’ signs, with a rusting ‘commuter tank’ in the drive without a fill- up? Not quite, at least not yet, thanks to a robust global economy.

Oil: Could This Be the End for Suburbia?

Michael Orme
Thu 30 Aug, 2007

Is America’s middle class getting stuck up a suburban cul-de-sac, surrounded by ‘for quick sale’ signs, with a rusting ‘commuter tank’ in the drive without a fill- up? Not quite, at least not yet, thanks to a robust global economy.

True suburban property prices are falling, foreclosures and distressed selling are on a sharp rise - albeit from low bases - and there are rising concerns about petrol and heating costs. But the suburban beat goes on. At most, 10% of suburban households face incipient crisis in the short-term.