The future role of megacities is in question. Megacities (12 cities composing close to a quarter of the total US population) captured a disproportionate share of economic benefits in the two decades leading up to the COVID-19 crisis. Global connectivity and crowding in public spaces made them viral hot spots early in the pandemic. Many have adapted, closing off streets to allow outdoor dining and successfully pushing public norms around wearing face coverings and other physical-distancing behaviors. Nevertheless, the crisis has left US homes on the market for longer, with a greater increase—at 35 percent—in time on the market for urban areas, versus a 30 percent increase in suburban areas and a 25 percent increase in rural areas.Even before the crisis hit, questions were being raised about the future of megacities. Some have pointed out that rapid and concentrated development in them has negative effects, including growing urban–rural inequality and a lack of affordability for...
learn more
