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A top commercial real estate developer predicts an influx of young home buyers — but only if we play our cards right.
DANBURY, CT — The popular, and more often than not, angry, opinion about living in the greater Danbury area is that everyone is fleeing for lower taxed pastures.
Jim Fagan, senior managing director at Cushman & Wakefield, one of the world's largest commercial real estate businesses with properties throughout southwestern Connecticut, has a different perspective. He believes that the generation of millennials that moved away to college and never returned to their roots is about to make a big comeback. They're getting older, and the allure of Brooklyn and Boston has begun to dim.
"There's probably no place better to raise your kids than Westchester or Fairfield counties. You have four seasons, you're close to Manhattan, you have the Long Island Sound, you can go skiing in a couple of hours, a great public schools system, all these wonderful things. Where would you rather raise a family?" Fagan said. "The economics dictate you come out and find some places that are a little less expensive to live, and also have great public schools, a little bit more space to live."
Although the geography and the lower costs are attractive to the former big-city-dwellers, Fagan says many of the towns are going to need to alter their mindset if they hope to lure millennials back home.
By Rich Kirby, Patch Staff | Aug 30, 2019 7:25 pm ET | Updated Aug 30, 2019 7:36 pm ET