The housing market -- and especially the exurban housing market -- played a major role in bringing about the current economic recession, according to this piece from Christopher Leinberger. He says sprawl is unlikely to regain its lost value.
The bailout of the housing and mortgage market has turned out to be much more expensive than the other bailouts. And as Leinberger writes in The New Republic, much more may be riding on the mortgage industry bailout.
"As reported on the front page of the Washington Post earlier this week, the Federal Reserve, the Treasury, and Fannie Mae and Freddie Mac have spent well over $1 trillion over the past year in propping up the securitized mortgage market and assuming untold risk of further mortgage defaults in the future. This is more than the bailout of the banks, AIG, and the car companies combined.
This mortgage bailout and the assumption of huge future risks were made in the hope that troubled housing, much of it on the fringe, will stabilize and regain its value. To some extent, it is a bet that sprawling development will recover its previously inflated value, a wager I'd decline."
Read the full story: Has Sprawl Recovered Enough for the National Economy?
The Consequences of Sprawl: Overcrowded Housing and Covid Deaths
Los Angeles is the nation's capital of both crowding and sprawl. A feature published by the Los Angeles Times provides the history of how the metropolis achieved this contradiction.
Single-Family Homes Appearing Faster Than Any Year Since 2006
The housing construction market is responding to strong demand with a glut of new single-family homes.
One-Third of Homes for Sale Are New, Report Says
New data from Redfin shows strong demand, and an increasing share of the supply, in new homes.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Amtrak, CN end decades-long dispute with eight-year agreement
The new operating agreement establishes an updated framework for the companies to work together, including processes to resolve disputes.
Northwest rail fans eager for Sept. 30 debut of Amtrak’s Airo fleet
Get ready for that new train smell and more seats. But they won’t go faster or run more frequently on the Cascades route in Washington and Oregon.
As El Niño approaches, Newsom vetos bill aimed at protecting California levees from flooding
Gov. Gavin Newsom said the state’s allocated $170 million was enough funding; State experts estimate it will cost $3.3 billion to repair the California Delta's levees.
Boston sues Trump administration over revoked infrastructure grant
The Trump administration withdrew the infrastructure grant because less than 1% of the money would go to electric vehicle charging infrastructure.
NYC to turn city-owned property into thousands of homes
The city has scheduled a public hearing regarding the development for October.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
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