Cost (more accurately price) indicates what is called a revealed preference. Actually a revealed preference is precisely what I am trying to point out here. There is a revealed preference for urban homes which is indicated by the higher price.
The broader point I am trying to make is that if the main appeal of suburban living is lower cost (rather than the actual suburban lifestyle) this is addressable not necessarily by expanding suburbs but by addressing the costs of urban living. In fact that would be better if it were really true that urban living is preferred.
In practice though I am sure many people would choose suburban living even if costs were equal to an urban environment. But the price difference does indicate that one (urban environments) is in higher demand than the other (suburban environments)
The broader point I am trying to make is that if the main appeal of suburban living is lower cost (rather than the actual suburban lifestyle) this is addressable not necessarily by expanding suburbs but by addressing the costs of urban living. In fact that would be better if it were really true that urban living is preferred.
In practice though I am sure many people would choose suburban living even if costs were equal to an urban environment. But the price difference does indicate that one (urban environments) is in higher demand than the other (suburban environments)