David Wolff and David Hightower are driving down the partially completed Grand Parkway around Houston. The vast road, when completed, will add a third freeway loop around this booming, 600-square-mile Texas metropolis. Urban aesthetes on the ocean coasts tend to have a low opinion of the flat Texas landscape—and of Houston, in particular, which they see as a little slice of Hades: a hot, humid, and featureless expanse of flood-prone grassland, punctuated only by drab office towers and suburban tract houses. But Messrs. read more »
What if they gave a recovery, and the middle class were never invited? Well, that’s an experiment we are running now, and, even with the recent strengthening of the jobs market, it’s not looking very good.
Over the last five years, Wall Street and the investor class have been on a bull run, but the economy has been, at best, torpid for the vast majority of the population. Despite blather about our “democratic capitalism,” stock ownership is increasingly concentrated with the wealthy as the middle class retrenches. The big returns that hedge funds, real estate trusts or venture capitalist receive are simply outside the reach of the vast majority. read more »
The very centers of urban cores in many major metropolitan areas are experiencing a resurgence of residential development, including new construction in volumes not seen for decades. There is a general impression, put forward by retro–urbanists (Note 1) and various press outlets that the urban core resurgence reflects a change in the living preferences of younger people – today's Millennials – who they claim are rejecting the suburban and exurban residential choices of their parents and grandparents. read more »
How I Learned to Stop Worrying and Love Northeast Ohio
Go to sleep, Captain Future, in your lair of art deco
You were our pioneer of progress, but tomorrow’s been postponed
Go to sleep, Captain Future, let corrosion close your eyes
If the board should vote to restore hope, we’ll pass along the lie
-The Secret Sound of the NSA, Captain Future
As near as I can tell, the term “Rust Belt” originated sometime in the mid-1980s. That sounds about right. read more »
Every few years the ideals of Ebenezer Howard’s garden city utopia are resurrected in an attempt by the UK government to create new communities, and address the country’s housing crisis. Sometimes this takes the form of new towns or eco-towns, and sometimes proposals for an actual garden city are put forward – as in the last budget. read more »
When we think about American finance, the default image is of a pinstriped banker on Wall Street. But increasingly financial services is shifting away from the traditional bastions of money.
In an analysis of recent and longer-term employment trends, we have identified the large cities –those with over 450,000 jobs – that are gaining jobs in financial services, a sector that employs 7.9 million people nationwide. Overwhelmingly, the fastest growth has been in cities not associated with high finance, but largely low-cost Sun Belt cities, which account for seven of the top 10 large metro areas on our list. read more »
I was in Dallas this recently for the New Cities Summit, so it’s a good time to post an update on the city.
I don’t think many of us realize the scale to which Sunbelt mega-boomtowns like Dallas have grown. The Dallas-Ft. Worth metro area is now the fourth largest in the United States with 6.8 million people, and it continues to pile on people and jobs at a fiendish clip. read more »
Much attention has been given the increase in transit use in America. In context, the gains have been small, and very concentrated (see: No Fundamental Shift to Transit, Not Even a Shift). Much of the gain has been in the urban cores, which house only 14 percent of metropolitan area population. read more »
Not long ago, Brazil was riding high. It was feted as one of the “BRIC” nations destined to be the next world economic powers. The commodities boom had its natural resources and agricultural sectors humming. The press – for example, Monocle magazine’s swooning over Brazil’s push to boost its diplomatic presence – was adoring. And Rio was awarded the 2014 World Cup and the 2016 Olympics, two events that were intended to both serve as a catalyst for further development, and also as a coming out party of sorts for the country. read more »
David Peebles works in a glass tower across from Houston’s Galleria mall, a cathedral of consumption, but his attention is focused on the city’s highly industrialized ship channel 30 miles away. “Houston is the Chicago of this era,” says Peebles, who runs the Texas office of Odebrecht, a $45 billion engineering firm based in Brazil. “In the sixties you had to go to Chicago, Cleveland and Detroit. Now Houston is the place for new industry.” read more »