In midsize cities across the United States, consumer borrowing has actually increased, which often leads to higher employment levels and wages than average.
"It is one of the few times in recent economic history when so many midsize cities are outperforming their larger counterparts, says Ross DeVol, director of regional economics at the Milken Institute, a Santa Monica, Calif.-based think tank. The new lending patterns, he says, reflect more disciplined economic-development strategies in those cities, more diverse employment and lower costs. Many of the higher-lending areas appeared on the institute's list of 'best-performing' cities for 2008, measured by job, wage and salary increases. Provo, Huntsville and McAllen were all in the top 10.
'The medium-size metros that have done the blocking and tackling are better positioned during the downturn,' he says."
"Some of the better-performing cities didn't experience speculative real-estate bubbles, leaving them with more solid household-credit conditions, which are conducive to lending. Others are benefiting from major government spending, such as massive infrastructure projects and military bases. Many have unemployment rates below the national average and rank among the nation's best job creators."
FULL STORY: Many Smaller Cities Dodge Crunch in Consumer Lending
A New Standard for Equity Investments
Fifth Third Bank is investing $2.8 billion in its Accelerating Racial Equality, Equity and Inclusion initiative.
Feds Propose New Lending Standards for Condo Developments
The Federal Housing Administration has proposed a rule that could remove one of the barriers to mixed-use developments. Questions still remain about whether the new rule goes far enough.
Subprime Lending and the Great Recession Still Impacting Black Americans
Nathalie Baptiste examines the case of Prince George’s County in Maryland near Washington D.C. as a study in how the housing and real estate markets has unjustly attacked the wealth of Black Americans.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.
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.
Ohio Forces Data Centers to Prepay for Power
Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.
MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.
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.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Caltrans
City of Fort Worth
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie