Unable to compete with the large supply of inexpensive homes in the city's outer suburbs, Atlanta's in-town neighborhoods will suffer most from the current mortgage crisis, says study.
"Atlanta's in-town neighborhoods are hard hit by the housing crisis with a confluence of expanding suburban housing stock, subprime loans and the systemic impact of the spike in foreclosures, new preliminary housing research has found.
The study, conducted by Harvard University Joint Center for Housing Studies research analyst Mark Duda and funded by Fannie Mae, focuses on how subprime lending and the resulting wave of local foreclosures aren't isolated, personal financial crises, but a systemic economic burden."
"The data, he said, indicates Atlanta's strong suburban housing stock and lack of geographic barriers has hindered in-town reclamation and gentrification of neighborhoods hardest hit by foreclosures.
Rather than moving inside the city and buying foreclosed properties, local residents have a plethora of housing options along the city's perimeter.
"That's why we haven't seen some these neighborhoods already turn," Duda said. "
FULL STORY: Study: Atlanta foreclosures stifle in-town gentrification
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.
Jacksonville Completes Park Street Road Diet
The half-mile corridor now features new bike lanes and sidewalks, as well as roundabouts and new landscaping.
Hanoi to Ban Gas-Powered Two-Wheelers, Later Cars
City officials hope that electrifying motorcycles, a ‘lifeblood’ of Vietnamese transportation, will have a positive impact on air quality and noise in the city’s downtown.
California Set to Increase Electric Truck Chargers by 25%
The California Transportation Commission approved funding for an additional 500 charging ports for electric trucks along some of the state’s busiest freight corridors.
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Yukon Government
Caltrans
New Jersey Institute of Technology
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
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