America's cities and towns have issued nearly $3 trillion in municipal bonds, yet are facing shrinking revenues, budget shortfalls and enormous pension obligations. There are fears that the next financial crisis will be municipal bankruptcies.
The financial crisis has hit cities hard: foreclosures, housing abandonment and shrinking tax bases. Now there are fears that they will be unable to meet their financial obligations.
"Cities across America are facing dire financial distress. Meredith Whitney, a banking analyst turned independent adviser who correctly predicted the banking meltdown, has issued an Armageddon-like prediction of mass municipal defaults. Others - notably Newt Gingrich - have suggested that state governments as well as cities should be allowed to file for bankruptcy. Congress held a hearing to examine the idea.
Americans, still reeling from the devastating impact of the mortgage debacle, are fearful that the next economic disaster is only a matter of time. To anyone reading the headlines of budget deficits and staggering pension liabilities, it takes little imagination to conclude that the next big one will be government itself. If muni bonds were to default (causing investors permanent harm, as distinct from the temporary discomfort of price fluctuations), ordinary Americans would lose big."
FULL STORY: Broke Town, U.S.A.
Which U.S. Cities Changed the Most This Decade
Analysis looks at a decade of data to determine which communities are undergoing dynamic transformations, and which are standing still.
You've Got a Friend in Me: Community Development and Health Sectors Working Together
Sixty percent of premature deaths are accounted for not by medical care or lack thereof, but by social circumstances, environmental conditions, and behavioral patterns. So perhaps the medical field on its own can't prevent them.
Does Your Local Economic Development Strategy Include Search Engines?
Nearly half of consumers now report that they look for local business information using the Internet, more than any other source.
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?
The Five Most-Changed American Cities
A ranking of population change, home values, and jobs highlights the nation’s most dynamic and most stagnant regions.
Op-Ed: Why an Effective Passenger Rail Network Needs Government Involvement
An outdated rail network that privileges freight won’t be fixed by privatizing Amtrak.
‘Quality Work, Fast’: NC Gears up for Homebuilding After Helene, Trying to Avoid Past Pitfalls
The state will field bids to demolish, repair and rebuild homes in the mountains. After struggles in eastern NC, officials aim to chart a different course.
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.
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.
Central Transportation Planning Staff/Boston Region MPO
Heyer Gruel & Associates PA
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Regional Transportation Commission of Southern Nevada
Toledo-Lucas County Plan Commissions