Tuesday, October 27, 2009
When the financial history of this era is told, it is possible that it will be seen as the bailout of not just the banks, Fannie Mae, and Freddie Mac, it will also to some extent be seen as the bailout of sprawl.
Leinberger's argument is that the highest rates of foreclosure are in the low-density, single family houses on the suburban/exurban fringe; therefore the federal efforts to reduce foreclosures will disproportionately flow to these homeowners. Leinberger says that we have structurally overbuilt housing in the exurbs compared to market demand, and that despite efforts to bail out overleveraged mortgages, sprawl housing may continue to decline in value. Meanwhile, he notes, property values for walkable urban housing have remained flat and may even include a price premium. Leinberger is concerned that if the value of sprawl housing continues to decline even after the recovery, it is "the recipe for the creation of a slum."
There are a number of other interesting items on metropolitan governance, planning, and land use on The Avenue.
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- Stephen Miller on New Arkansas law requires local governments to pay for a "takings" where certain "regulatory programs" reduce FMV by at least 20 percent
- Josh Galperin on New Arkansas law requires local governments to pay for a "takings" where certain "regulatory programs" reduce FMV by at least 20 percent
- Jesse Richardson on New Arkansas law requires local governments to pay for a "takings" where certain "regulatory programs" reduce FMV by at least 20 percent
- Jamie Baker Roskie on Uber Goes to the State House Seeking Preemption of Local Government Control
- Stephen R. Miller on Why are building inspectors so often on the take?
- Can UberPOOL Make Carpooling Cool?
- Are Earth Day cookies an endangered species?
- Fordham Urban Law Center's Sharing Economy | Sharing City Conference - April 24
- Land Use, Telescopes and Sacred Land in Paradise
- Tekle on Percent-for-Art Ordinances