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.
San Diego to Rescind Multi-Unit ADU Rule
The city wants to close a loophole that allowed developers to build apartment buildings on single-family lots as ADUs.
Has President Trump Met His Match?
Doug Ford, the no-nonsense premier of Canada's most populous province, Ontario, is taking on Trump where it hurts — making American energy more expensive.
Study: London ULEZ Rapidly Cleaning up Air Pollution
Expanding the city’s ultra low-emission zone has resulted in dramatic drops in particle emissions in inner and outer London.
The Unseen Aftermath: Wildfires’ Lasting Health and Emotional Burden
Wildfires in Los Angeles not only pose immediate physical health risks but also lead to long-term respiratory problems and mental health struggles, underscoring the need for a coordinated public health response to mitigate their lasting effects.
Public Parks as Climate Resilience Tools
Designed with green infrastructure, parks can mitigate flooding, reduce urban heat, and enhance climate resilience, offering cost-effective solutions to environmental challenges while benefiting communities.
What the Proposed Federal Budget Means for Transit, Rail
The proposed FY 2025 budget keeps spending for public transit and passenger rail essentially the same as in 2024.
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.
Resource Assistance for Rural Environments
City of Edmonds
City of Grandview
Harvard GSD Executive Education
UCLA Lewis Center for Regional Policy Studies
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research