Municipal bonds are being defaulted on left and right. But the news sounds worse than it is. Few of those defaults are by cities -- for now.
Because the definition of the "municipal bond" is somewhat loose, other non-municipal organizations like colleges and hospitals can also issue them. Many of these non-municipal entities have not weathered the recession well.
"Defaults on municipal debt increased dramatically from $329 million in 2007 to nearly $7.8 billion in 2008, according to Richard Lehmann, publisher of a newsletter that tracks defaults. Municipal defaults are once again in the billions of dollars this year. However, if you haven't heard about the wave of cities and counties that are defaulting on their financial obligations, there's a good reason why: The wave doesn't exist, at least not yet."
FULL STORY: Just How Strong Are Muni Bonds?

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Maui's Vacation Rental Debate Turns Ugly
Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.

San Francisco Suspends Traffic Calming Amidst Record Deaths
Citing “a challenging fiscal landscape,” the city will cease the program on the heels of 42 traffic deaths, including 24 pedestrians.

Defunct Pittsburgh Power Plant to Become Residential Tower
A decommissioned steam heat plant will be redeveloped into almost 100 affordable housing units.

Trump Prompts Restructuring of Transportation Research Board in “Unprecedented Overreach”
The TRB has eliminated more than half of its committees including those focused on climate, equity, and cities.

Amtrak Rolls Out New Orleans to Alabama “Mardi Gras” Train
The new service will operate morning and evening departures between Mobile and New Orleans.
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