The return of Americans to urban living, while well documented, may be a "head-fake" as far as the mortgage industry is concerned. Sam Khater, CoreLogic's Deputy Chief Economist says that inbound migration is happening, but not precisely in the way many think. This return to the cities has been driven by educated and affluent households, he says, which is leading to a concentration of wealth in cities and inner suburbs and that is driving home prices higher. CoreLogic looked at the 20 largest MSA's, dividing the suburban areas in each into three equally weighted rings based on the percent of residential properties. This allowed an analysis where rings could be "fluid and expansive" in sprawling areas like Houston but small and compact in smaller, denser markets. During the last two decades
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