The End of the Suburbs · Where the American Dream Is Moving

A Fortune journalist examines why the suburbs are transforming and losing their appeal—and why that’s not a bad thing Over the past few years, the American suburbs have undergone a dramatic shift, with millions of once coveted homes now stamped with foreclosure signs and once-pristine neighborhoods plagued by crime and poverty. According to Leigh Gallagher, this phenomenon isn’t merely about the housing bust; it reflects fundamental changes in our society. For example:

The nuclear family is declining : Since the Baby Boom, birthrates and marriage rates have shrunk, reducing the demand for big homes in suburbia.

The era of “bigger is better” is over : As we become more concerned about the environment we opt for smaller homes and avoid the gas-guzzling nature of suburban sprawl.

Our cities are having a renaissance : New research shows that urbanized living actually makes for happier, healthier lifestyles. Blending economic data, analysis, and on-the-ground reporting, Gallagher paints a surprising and fascinating portrait of how the American Dream isn’t over; it’s simply changing.