One thing to consider is that a growing portion of Americans (perhaps a majority, soon) do not want the small house in the suburbs with a white picket fence, 2.

One thing to consider is that a growing portion of Americans (perhaps a majority, soon) do not want the small house in the suburbs with a white picket fence, 2.33 kids, a stay at home mom, and a 50 minute commute that the baby boomers' parents wanted. People are starting to remember that the reason we created cities is that city living is desirable, and they are willing to pay a premium for that.