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."
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.
Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Canada vs. Kamala: Whose Liberal Housing Platform Comes Out on Top?
As Canada votes for a new Prime Minister, what can America learn from the leading liberal candidate of its neighbor to the north?
Washington State’s Parking Reform Law Could Unlock ‘Countless’ Acres for New Housing
A law that limits how much parking cities can require for residential amd commercial developments could lead to a construction boom.
Wildlife Rebounds After the Eaton Fire
Following the devastation of the Eaton Fire, the return of wildlife and the regrowth of native plants are offering powerful signs of resilience and renewal.
LA to Replace Inglewood Light Rail Project With Bus Shuttles
LA Metro says the change is in response to community engagement and that the new design will be ready before the 2028 Olympic Games.
Urban Design for Planners 1: Software Tools
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Learn the tools for implementing Universal Design in planning regulations.
Central Transportation Planning Staff/Boston Region MPO
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