Christopher Leinberger argues that regardless of current coping strategies, the mortgage crisis is permanently reshaping cities and their edges.
Leinberger points to over-investment in metropolitan fringe areas as one of the root cause of the current crisis. Foreclosure moratoriums only delay the inevitable, he says, suggesting that housing values in most fringe neighborhoods will never return to their boom-time peaks. Such 'pretend and extend' policies simply encourage underwater homeowners to remain in economically crippled areas, contributing to long-term unemployment.
The result may be a reverse migration from exurban homesteads, Leinberger writes:
'The good news in this continuing mess is that there is substantial pent-up demand for higher density urban places, which will put a sustainable foundation under the U.S. economy similar to the foundation we enjoyed during the last half of the 20th century when we were building the drivable suburbs.'
Read the full story: Pretend and Extend--Our Mortgage Crisis Fantasy
Mortgage Modification Bad for Banks
James Surowiecki dispels the myth that banks are better off renegotiating mortgage then foreclosing.
Subprime Loans Are Back—Now They're Called Nonprime Loans
Some say that "nonprime" loans will create the same financial ruins as their "subprime" predecessors. Others say the housing market needs ways for more people to buy homes and drive the industry.
The Last Days of the Home Affordable Modification Program
The Washington Post takes stock of the Home Affordable Modification Program (HAMP) in its final days, finding a program hampered by bad faith from large banks and bad oversight by the Treasury Department.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Colorado’s Largest Data Center Could Rise Next to Homes — Without a Public Hearing
The proposed campus would consume 11 times the power of Denver International Airport; as it has across the country, opposition mounts.
US to reduce Colorado River water deliveries to Mexico
A new Colorado Treaty amendment reduces Mexico’s Colorado River water allocation by 250,000 acre feet.
'This is going to be painful:’ Virginia stares down $1.7 billion funding gap for highway maintenance
The state may address the deficit by shifting $290 million from its construction budget to maintenance projects.
Judges permit Denver to divert 77,000 acre feet from the Colorado River for reservoir expansion
Overuse and climate change have caused the Colorado River’s water levels to plummet.
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.
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.
KFH Group Inc.
Greater Baltimore Committee
Eagle County Government
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello