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.
Seattle Legalizes Co-Living
A new state law requires all Washington cities to allow co-living facilities in areas zoned for multifamily housing.
Central Florida’s SunRail Plans Major Expansion
The expanded train line will connect more destinations to the international airport and other important destinations.
NYC Officials Announce Broadway Pedestrianization Project
Two blocks of the marquee street will become mostly car-free public spaces.
Harnessing Waste Heat Through Thermoelectricity
Heat from industrial installations and buildings can be captured to create renewable electricity.
Major US Cities Still Suffering Downtown Decline
Research shows that the “donut effect” hollowing out central business districts since the pandemic continues to cause economic decline in the 12 largest American cities.
Terre Haute Transit Goes Fare-Free
Buses in the Indiana city will be free as of January 2.
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.
Los Alamos County
City of Culver City
Skagit Transit
American Planning Association, Sustainable Communities Division
HUDs Office of Policy Development and Research
HUDs Office of Policy Development and Research
City of Cambridge, Maryland
Newport County Development Council: Connect Greater Newport
Rockdale County Board of Commissioners