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The Planetizen News Brief

17 April 2008 - 5:00am
Smart City Radio

The Planetizen News Brief is a weekly rundown of some of the most interesting and important news and issues of the past week.

The Planetizen News Brief airs every week on the nationally-syndicated radio program "Smart City", which is broadcast in cities across the U.S. Learn more about Smart City and listen to archived shows.

Full Transcript

The housing bubble popped in the United States, and it has sent a trickling shockwave around the globe. Real estate prices are dropping all over the world, and the economies of many countries are taking hard hits. A recent article in the International Herald Tribune looks at how the real estate markets in such countries as Spain, Ireland and Britain are experiencing sharp downturns similar to what happened in the U.S. The home financing market tightened significantly in the wake of the American subprime mortgage bust, and it’s begun to affect loan holders and mortgage payers around the world. The International Monetary Fund recently reacted to the changing global real estate market by slashing its economic growth forecast, saying things could be bad even into 2009. And while other countries hope things will get better before then, they are being told to not be surprised if American-style foreclosures start hitting their own shores soon.

In China, Beijing is deep in preparation mode for this summer's 2008 Olympic Games. Along with the tight timeline and long list of projects to complete, the city is also worrying about its famously low air quality. Organizers of the games are worried that the environment will result in unhealthy conditions for competitors and spectators alike. In an effort to improve the city’s air quality, officials have announced a two-month moratorium on construction in the city, which is set to begin on July 20. The New York Times reports that other polluting activities such as quarry mining, oil refining, steel production and even spray painting will all be put on hold in the days leading up to and following the Olympics. Some say it’s too late to clean Beijing’s air in time, and fault the government for moving too slow with the preparation for the games – a citywide project they had expected to be complete by the end of 2007.

But while things are moving behind schedule in Beijing, the Texas city of El Paso is looking to move at almost lightning quick speed on a new civic project that other cities have taken decades to develop. The El Paso Times reports that city officials are working with federal and state transportation experts to kickstart plans to build the city a rapid transit system. They are hoping to have the system operating within just three years. Officials are looking at existing bus rapid transit systems around the world for inspiration and hope to build a vast network of dedicated busways to transport the city's residents. Some say the three-year timeline is too tight, but officials stand behind it, arguing that El Paso's reliance on cars is a problem that can only be solved by a progressive and aggressive strategy.

Stories discussed in this week's Planetizen News Brief

Housing Bubble Goes Global

Beijing to Polluting Construction Industry: Stop

El Paso On Fast Track to Transit

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In short, we’ve seen the last of the cheap oil on which we’ve built our economy, our communities, and our daily lives.
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