International travelers and expatriates have long known that currency exchange rates are not reliable indicators of purchasing power. For example, a traveler to France or Germany will notice that the dollar equivalent in Euros cannot buy as much as at home. Conversely, the traveler to China will note that the dollar equivalent in Yuan will buy more. read more »
The Chicago Tribune has been running a series on the challenges facing the next mayor. One entry was about the Chicago economy. It described the sad reality of how Chicago’s economy is in the tank, and has been underperforming the nation for the last few years. I’ll highlight the part about challenges building an innovation and tech economy in Chicago: read more »
Economists, planners and the media often focus on the extremes of real estate — the high-end properties or the foreclosed deserts, particularly in the suburban fringe. Yet to a large extent, they ignore what is arguably the most critical issue: affordability. read more »
In the next two years, America’s large cities will face the greatest existential crisis in a generation. Municipal bonds are in the tank, having just suffered the worst quarterly performance in more than 16 years, a sign of flagging interest in urban debt. read more »
New Jersey Governor Chris Christie sent shockwaves through the transportation industry on last Thursday when he cancelled the under-construction ARC (Access to the Regional Core) rail tunnel under the Hudson River from New Jersey to New York (Manhattan). read more »
The rise in telecommuting is the unmistakable message of the just released 2009 American Community Survey data. The technical term is working at home, however the strong growth in this market is likely driven by telecommuting, as people use information technology and communications technology to perform jobs that used to require being in the office. read more »
To escape the summer crowds in the Hamptons, I rode the S92 bus (fare $1.50) for almost three hours, as it cruised the south and north forks of Long Island, before leaving me at the ferry that connects Orient Point to New London, Connecticut.
I might end up late to some meetings, but this way I could monitor the progress of the American Recovery and Reinvestment Act of 2009, at least as it pertains to the more than $8 billion earmarked for high-speed trains, if not buses and ferries.
Not many Hampton People leave on a local bus, which in this case was filled with Latino day laborers, giving it the air of a John Steinbeck novel. I was headed to New England, and I wanted to see if I could make a circuit to Providence, Boston, Amherst, and Keene entirely on public transportation.
Conclusion: Mass transit works better as a White House sound bite than as a way to get around New England. read more »
If you are looking for a place where you can, in your day dreams, ride out the recession, might I suggest one of the Hamptons? These are the celebrity-drenched villages that stretch for thirty miles across the sand dunes and potato fields of Long Island’s South Fork, which ends at Montauk Point and its lighthouse.
Why the Hamptons for a depression-era exile? For starters, if you’re a seller, the Hamptons remain Paradise. Fishermen’s cottages start at $1 million, oceanfront property goes for about $7 million an acre, and the street value of guacamole rivals that of cocaine. read more »
The US Bureau of the Census has just released detailed county to county and place (municipality) to place work trip flow tables. This new data is the most comprehensive since the 2000 census and covers 2006 to 2008.
The county to county data is particularly useful for analysis in the nation's largest metropolitan area (Note 1), New York. The New York metropolitan area has more than 19 million people and stretches across 6,700 square miles of land area, one half of it in the urban area, which is the urban footprint that includes all areas, including suburbs, in the continuous urbanization (3,350 square miles) and the other half rural (Note 2). read more »
Last month promoters of the Metropolitan Transit Authority's Los Angeles rail projects, both past and future, held a party to celebrate their "success." Although this may well have been justified for transit-builders and urban land speculators, there may be far less call for celebration among L.A.'s beleaguered commuters.
Despite promises that the $8 billion invested in rail lines over the past two decades would lessen L.A.'s traffic congestion and reshape how Angelenos get to work, the sad reality is that there has been no increase in MTA transit ridership since before the rail expansion began in 1985. read more »