According to the new book, Foreclosing the Dream: How America's Housing Crisis Is Reshaping Our Cities and Suburbs, development is shifting to cities more strongly than most Americans realize.
William H. Lucy has examined America's foreclosure epidemic in enormous detail and has arrived at this conclusion: Decades-old patterns of suburban growth and urban decline are now being reversed.
"The years leading up to the 2008-2009 crises may be seen in retrospect as the last hurrah of the exurban extreme of the American dream," says Lucy, a professor of urban and environmental planning at the University of Virginia. Increasingly, people with choices and financial resources want to live in cities.
Thanks to Renee Brutvan
FULL STORY: Foreclosures point to waning of the suburban era, study says
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