In 2008, US transit posted its highest ridership since 1950, a development widely noted and celebrated in the media. Ridership had been increasing for about a decade, however, 2008 coincided with the highest gasoline prices in history, which gave transit a boost. read more »
Despite Transit's 2008 Peak, Longer Term Market Trend is Down: A 25 Year Report on Transit Ridership
For some time, theorists have been suggesting that it is time to redefine the American Dream of home ownership. Households, we are told, should live in smaller houses, in more crowded neighborhoods and more should rent. This thinking has been heightened by the mortgage crisis in some parts of the country, particularly in areas where prices rose most extravagantly in the past decade. And to be sure, many of the irrational attempts – many of them government sponsored – to expand ownership to those not financially prepared to bear the costs need to curbed. read more »
For many years, critics of the suburban lifestyles that most Americans (not to mention Europeans, Japanese, Canadians and Australians) prefer have claimed that high-density housing is under-supplied by the market. This based on an implication that the people increasingly seek to abandon detached suburban housing for higher density multi-family housing.
The Suburbs: Slums of the Future? read more »
The American Public Transportation Association (APTA) is publishing monthly Transit Savings Report to illustrate the purportedly great savings that can be achieved by giving up the car and traveling by transit instead. APTA compares the average cost of buying a monthly transit pass to replace a car, which is assumed to travel 15,000 miles annually. read more »
“If you seek authenticity for authenticity’s sake you are no longer authentic.”
– Jean-Paul Sartre
As the United States shifted from a manufacturing to a knowledge-based economy during the latter half of the 20th Century, former industrial cities suffered population losses to the suburbs and post-WWII boomtowns. Some of these cities were able to stay afloat while others went into permanent decline never to fully recover. Most experienced an increase in crime and a decrease in quality-of-life. read more »
On schedule, the annual ritual occurred last week in which the Census Bureau releases population and migration estimates and the press announces that people are no longer moving to the Sun Belt. The coverage by The Wall Street Journal was typical of the media bias, with a headline “Sun Belt Loses its Shine.” In fact, the story is more complicated – and more revealing about future trends.
Domestic Migration Tracks Housing Affordability: There have been changes in domestic migration (people moving from one part of the country to another) trends in the last few years, but the principal association is with housing affordability. read more »
California is in trouble: Unemployment is over 13%, the state is broke and hundreds of thousands of people, many of them middle-class families, are streaming for the exits. But to some politicians, like Sen. Alan Lowenthal, the real challenge for California "progressives" is not to fix the economy but to reengineer the way people live. read more »
At the height of the foreclosure crisis the problems experienced by some so-called “sprawl” markets, like Phoenix and San-Bernardino-Riverside, led some observers to see the largest price declines as largely confined to outer ring suburbs. Some analysts who had long been predicting (even hoping for) the demise of the suburbs skipped right over analysis to concoct theories not supported by the data. The mythology was further enhanced by the notion – never proved – that high gas prices were forcing home buyers closer to the urban core. read more »
Free markets are out of vogue. The unfortunate lesson that policymakers have learned over the past two years is that a big, brainy government that supposedly creates jobs is superior to irrational, faceless markets that just create catastrophic errors. So Washington has seized on the financial and economic crises to enlarge its role in managing the economy—controlling the insurance giant AIG, for example, and trying to maintain high housing prices through tax credits and “mortgage modification” programs. read more »
Pity poor Matamoras, PA, population 2,600, located on the Delaware River where Pennsylvania, New York and New Jersey all come together. The town has only two named streets: Delaware Drive (parallel to the river), and Pennsylvania Ave. (perpendicular).
Other streets parallel to the river are numbered: 1st, 2nd, 3rd, and so on, up to 10th. The avenues, perpendicular to the river, start with Avenue A in the north, and continue to Avenue S, in the south. Pennsylvania Ave., the main drag, is between “K” and “L”.
What a boring little town! read more »