Exurbs Hit Hard by Housing Crisis

Exurban developments are struggling to control their rampant foreclosure rates and plummeting housing values.

"Victorville and other exurbs like it lie at the core of America's mortgage meltdown. A year ago, it was America's second-fastest-growing city (behind New Orleans) with a 9.5 percent surge between July 2006 and July 2007. Now, foreclosures have more than doubled in the county. New home prices in the city have plunged 43 percent."

"But while new exurbs – those once fast-growing communities at the fringe of major metropolitan areas – will rebound much more slowly than traditional suburban and urban communities, housing experts say, city leaders here are more upbeat. They have one advantage: They've learned how to handle downturns, offering one model of survival for other exurbs reeling from the housing crisis."

Full Story: Housing crisis hits exurbs hard

Comments

Build Your Own Paper Block City

Urban Fold is an all-inclusive kit that allows anyone to build the city of their dreams with a few simple folds.
$24.95
building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25

City Map Posters are in!

Available in 9 different cities.
$25.00

NEW! Get the "Green Bible"

Understand the complexities of planning at the local level while preparing for the AICP* exam. Find out why this edition is included in the APA's recommended reading list.
$105