Long commute + High Fuel Costs = Home Losses in Exurbs.
You can commute to New York City from the Pocono Mountains of Pennsylvania, according to developers who promoted exurban living back in the early days of the housing bubble. But by 2005, foreclosures in the Poconos region rose above 500; by 2009 the number of foreclosures had quadrupled to 2000. Analysts say one cause is the cost of the extreme commute.
Scott Bernstein with The Center for Neighborhood Technology noted the pattern in the Chicago area and mapped it: the farther out from the city center, the higher the foreclosure rate. Scott told WNYC reporter Andrea Bernstein 2008 was the tipping point, as gas hit $4.30 a gallon: "The cost of housing was apparently low enough to attract people, but the cost of transportation is so high that you couldn't afford to live there anymore."
HUD knows its an issue, and is trying to promote new housing in locations with shorter commutes.
Read the full story: Gas prices drive up foreclosures
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
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City of Rosemead
Rutgers University, Edward J. Bloustein School of Planning and Public Policy
One Hundred Miles
The Architects Foundation
University of Cincinnati Online
Montrose County
Northern Illinois Transit Authority (NITA)
The Pocatello Development Authority