In the past few months, I've had another reason to feel better about
not living in the suburbs. My usual reason is that I grew up in the
burbs – Stamford,
Conn., to be exact – and I'm still traumatized by its ‘broad lawns and
narrow minds.' And now, although New York City can seem like the most
expensive place on earth, the suburbs suddenly don't seem like such a
bargain.

Sure, I pay $3000 a month for a one-bedroom apartment.
But my heating bill is zero, my electricity bill is usually about $50
and my transportation costs rarely top $30 a week, including a taxi or
two. (I do own a car, but it's more of a hobby
than a mode of transportation.) And although my rent and living
expenses will go up, as everyone's do, they're not increasing nearly as
quickly as those of people who live in the suburbs, who have big houses
to heat and big cars to drive.

Fact is, amid its dirt and
grime, New York City is relatively green, since most people use public
transportation, take taxis for relatively short distances and live in
large buildings that don't cost much to heat. Newer fancier exurbs,
with their McMansions and SUVs, may be full of gardens and green
spaces, but they're environmental disasters. So much energy is required
to heat some of those houses – especially those with grand two-story
entryways that allow the heat to rise – and they're so far away from
anything that the people who live in them have to spend a good deal of
money on gas. With houses spread so far apart, bicycles and public
transportation simply aren't practical.

In an age of $4-per-gallon gasoline,
that lifestyle suddenly looks more expensive. (And if the price of oil
keeps rising, who's to say we won't be looking at $5 per gallon by the
end of the year?) This couldn't come at a worse time, especially for
those who live in the outlying suburbs. In general, those communities
have already grown less desirable as cities get safer and longer work
hours make short commutes more important. That's why Real Estate prices
are mostly falling faster in the exurbs than in cities. (This is
obviously a generalization, but I think it's true in enough places to
qualify as a trend.)

What happens now? Many families that pushed
themselves to buy in the exurbs are already stressed by falling home
prices, and in some cases by adjustable rate mortgages. Now they also
have rising fuel prices to contend with – especially if they live in
colder climates. What happens when they try to sell their houses and
potential buyers realize how much their commutes will cost?