When a city bankrupts itself on the debt service of municipal bonds that were issued to keep some local pro team from bolting, residents and fans get the worst of both worlds. Losing teams and crippling interest payments are the signatures of bad deals in Cincinnati, Miami, Phoenix, and Cleveland, which collectively have taken on more than $1 billion in stadium debt to keep the Bengals, Marlins, Cardinals, and Browns in their loss columns. read more »
Planners and parents have been concerned about two widely reported, and most likely related, trends: the increasing percentage of overweight children, and the growing number of hours that kids spend looking at a screen, be it a television or a laptop. These two activities take up most of the free time kids have after school. Add on the tendency for kids to be driven or bussed to school, and the result is what has been called a “nature deficit” — a disconnect to natural surroundings. read more »
It was widely reported that the Great Recession and subsequent economic malaise changed the geography of America. Suburbs, particularly in the Sun Belt, were becoming the “new slums” as people flocked back to dense core cities. read more »
This is the introduction to "Retrofitting the Dream: Housing in the 21st Century," a new report by Joel Kotkin. To read the entire report, download the .pdf attachment below.
In recent years a powerful current of academic, business, and political opinion has suggested the demise of the classic American dream of home ownership. The basis for this conclusion rests upon a series of demographic, economic and environmental assumptions that, it is widely suggested, make the single-family house and homeownership increasingly irrelevant for most Americans. read more »
Ever since the housing bubble burst in 2007, retro-urbanists, such as Richard Florida, have taken aim at homeownership itself, and its "long-privileged place" at the center of the U.S. economy. If anything, he suggested, the government would be better off encouraging "renting, not buying." read more »
Over the past 60 years, financial services’ share of the economy has exploded from 2.5% to 8.5% of GDP. Even if you believe, as we do, that financialization is not a healthy trend, the sector boasts a high number of relatively well-paid jobs that most cities would welcome.
Yet our list of the fastest-growing finance economies is a surprising one that includes many “second-tier” cities that most would not associate with banking. read more »
Our country is six years into the Great Recession, the biggest economic downturn since the Great Depression. It’s been replete with reports of home foreclosures, collapsing commuter towns, and young people struggling to become home owners. The term “generation rent” is often used in the media to describe the struggles of aspiring young people. read more »
The US Census Bureau has reported that eight of the fifteen 2011-2012 fastest-growing municipalities with at least 50,000 population were in Texas. Three of them were in the Austin metropolitan area. San Marcos, south of Austin, grew the fastest in the nation at 4.9 percent. Cedar Park, located in Austin's northern suburbs, ranked fourth in growth at 4.7 percent while Georgetown, also north of Austin grew 4.2 percent and ranked seventh. read more »
The Ohio suburb of East Cleveland abuts the core city to its west and north, and in terms of physical appearance the boundary between the two is indistinct. A century ago, the City of Cleveland unsuccessfully attempted to annex East Cleveland on two occasions. These days, Cleveland is unlikely to perceive its eastern neighbor as much of a catch. East Cleveland fell on hard times during the deindustrialization that took place throughout the Cuyahoga Valley: since 1970, it has lost more than half of its population. Nearly 40% of the 2010 population falls below the poverty level. read more »
At the moment, the technology sector is the focus of a lot of attention — and with good reason. Tech industries have helped turn San Jose and Austin into major economies and brought other large metros, like Detroit, through tough spells. But which small, off-the-radar towns out there also deserve recognition as technology hubs? read more »