Salt Lake City is a Perfect Example

This snippet is from a recent Forbes.com article on rent affordability. What caught my eye was the phrase I bolded and underlined below.

"Behind The Numbers
When people move to an area, they often do so because of a job. That's why migration figures and job growth are invariably intertwined. As an expanding local economy lifts salaries, housing prices grow because buyers have the money to pay for better properties. Salt Lake City is a perfect example. (emphasis added) The metro's high job-growth rate has resulted in huge in-migration and a housing market where prices grew by double-digit percentages last year.

But the richest residents often head to the market's prime suburbs, which feature perks like pretty views, bodies of water and parks that are in short supply elsewhere.

Those suburbs often begin as small residential centers, and are designed to be low density and non-commercial. But as they grow in population, they turn into economic centers of their own, acting as satellites to the principle city instead of escapes from it. When a suburb adds stores, restaurants, factories, malls, office buildings and other commerce centers, it requires a wider range of people, with a wider range of financial characteristics to keep it viable."

What has impressed me about development in Salt Lake County within the past 10 years is how the planners and developers are making sure to include the amenities needed to sustain the new communities. (Schools, parks, open space, shopping, etc.)

Communities like Herriman and Daybreak aren't just stuck out there with homes only, but infrastructure and commerce is also planned for which, in turn, creates economic growth in the newly developed areas.

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