By years' end, half of the world's population will live in cities, according to a report released by the U.N. This isn't entirely new; the organization actually made this prediction last summer.

This will be the first time in history that half of the global population will reside in urban areas, with the most concentrated growth taking place in Asia and Africa. The report also contends that by the mdidle of the century, 27 megacities will each boast populations of more than 10 million citizens, however the majority of growth will occur in smaller centers that currently less than 500,000 residents.

"The urban areas of the world are expected to absorb all the population growth expected over the next four decades while at the same time drawing in some of the rural population," the report said. "As a result, the world rural population is projected to start decreasing in about a decade, and 600 million fewer rural inhabitants are expected in 2050 than today."

That's epescially interesting given the report predicts the world's population will grow from the 6.7 billion in 2007 to 9.2 billion in 2050. Apparently the majority of those extra 2.5 billion people will face some aversion to country living and cram into cities for one tight squeeze. And you think finding weekend parking at Walmart is a bitch now. Give it 20 years and these will be "the good old days."

Hit the jump to read more facts and figures featured in the U.N. report.

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