The One-Two Punch of Job Losses and Falling Home Values

Housing devaluation and job loss are the two major problems affecting America's urban areas. But as this article from Governing explains, those two problems are playing out in drastically different ways from metro to metro.

1 minute read

April 22, 2010, 6:00 AM PDT

By Nate Berg


"States and localities are recovery-challenged. The problem for policymakers who would like to give states and localities a helpful push up the recovery ladder is that the troubles that bedevil those economies are not evenly distributed.

A report in March from the Federal Reserve Bank of Philadelphia indicates that states are recovering from this recession at greatly different speeds. In February, the bank's coincident index (an index that combines four state-level indicators to summarize current economic conditions in a single statistic for each state) increased in 21 states, decreased in 22 and remained unchanged in seven."

Governing's Penelope Lemov writes that the "double trouble" of job losses and home value losses are posing serious challenges for some cities, but many experts suggest focusing on jobs and letting the housing market right itself.

Monday, April 19, 2010 in Governing

courses user

As someone new to the planning field, Planetizen has been the perfect host guiding me into planning and our complex modern challenges. Corey D, Transportation Planner

As someone new to the planning field, Planetizen has been the perfect host guiding me into planning and our complex modern challenges.

Corey D, Transportation Planner

Ready to give your planning career a boost?

View of dense apartment buildings on Seattle waterfront with high-rise buildings in background.

Seattle Legalizes Co-Living

A new state law requires all Washington cities to allow co-living facilities in areas zoned for multifamily housing.

December 1, 2024 - Smart Cities Dive

Times Square in New York City empty during the Covid-19 pandemic.

NYC Officials Announce Broadway Pedestrianization Project

Two blocks of the marquee street will become mostly car-free public spaces.

December 1, 2024 - StreetsBlog NYC

Broken, uneven sidewalk being damaged by large tree roots in Los Angeles, California.

The City of Broken Sidewalks

Can Los Angeles fix 4,000 miles of broken sidewalks before the city hosts the 2028 Olympic Games?

December 5, 2024 - Donald Shoup

cars

Study: Automobile Dependency Reduces Life Satisfaction

Automobile dependency has negative implications for wellbeing. This academic study finds that relying on a car for more than 50 percent of out-of-home travel is associated with significant reductions in life satisfaction.

2 hours ago - Does Car Dependence Make People Unsatisfied With Life? Evidence From a U.S. National Survey

Yellow San Diego Unified School District school bus.

San Diego School District Could Accelerate Workforce Housing Program

A proposal to build housing on five district-owned properties could yield 1,000 housing units for low- and moderate-income district employees.

3 hours ago - Governing

Red bus parked at transit station in Denver, Colorado with CO state capitol dome in background.

Denver Transit Board Approves $1.2 Billion Budget

The 2025 budget for the Regional Transportation District is the largest in the agency’s 55-year history.

4 hours ago - The Denver Post

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.