Excerpts: The U.S. hasn’t had a formal definition for what constitutes a suburb. A new data analysis comes closer to defining America’s most popular neighborhood type. (Suburban appraisal definition is tricky.) What’s the appraisal definition for suburban?
The United States is a land of suburbs, with just one problem: No one’s quite clear what a “suburb” is.
It’s a question of semantics with real-world implications, as government programs, political campaigns and developers try to spend money in the “suburbs,” where a majority of Americans say they live despite the category having no formal definition.
For some people, it’s obvious: A suburb is a smaller city on the periphery of a larger city. Or it’s a sprawling neighborhood filled with vast swathes of single-family homes. Still other more dated conceptions of suburbia in the popular mind involve the people who live there: allegedly white, middle class and socially homogenous.
Now a new team of researchers believe they’ve cracked the code…
To read more, click here
My comments: Of course, if you do residential lender appraisals this is a Very Big Issue due to lender “requirements” such as no rural properties. Lots and lots of online discussion about this for a long time. Post this topic on your favorite Internet chat site or email list… and wait for the wide variety of opinions!!
My Favorite Definitions
(This has been floating around for many years…)
Rural Suburban Urban
- If you stand naked on the front porch and the neighbors can’t see you… it’s rural.
- If you stand naked on the front porch and the neighbors call the cops on you… it’s suburban.
- If you stand naked on the front porch and the neighbors ignore you… it’s urban.
There are other variations, of course, that are not suitable for this newsletter ;>
Crazy Appraiser Stories!!(Opens in a new browser tab)