The foreclosure crisis has been devastating for millions of Americans, but it has also impacted many still working as before and holding on to their homes. Even a couple of empty dwellings on a street can very quickly deteriorate and become a negative presence in the neighborhood, at the least driving down prices further, sometimes attracting crime. Untended pools can allow pests to breed. Many animals have been abandoned and shelters report overflowing traffic. read more »
With much fanfare, the Banking Committee of the United States Senate approved the Livable Communities Act (S. 1619, introduced by Democratic Senator Dodd of Connecticut). A purpose of the act is expressed as:
...to make the combined costs of housing and transportation more affordable to families.
The Livable Communities Act would provide financial incentives for metropolitan areas to adopt "livability" policies, which are otherwise known as "smart growth," "growth management" or "compact city" polices. read more »
The heart and brain are certainly not the largest organs in the human body, but they are arguably the most important. Why? The heart, through a miles-long network of capillaries, keeps every part of the body supplied with nutrients, and the brain, through an equally extensive network of nerves, provides instructions to every part of the body about what to do with those nutrients. They are important not because they are big, but because they are connected to everything else. read more »
As the recovery begins, albeit fitfully, where can we expect growth in jobs, incomes and, most importantly, middle class opportunities? In the US there are two emerging “new” economies, one largely promoted by the Administration and the other more grounded in longer-term market and demographic forces. read more »
You can see the changes. A drive through suburban Lake County, IN, an hour from downtown Chicago makes you feel like you are somewhere between the set of Jean Shepherd’s A Christmas Story and the movie Hoosiers. Cultural and religious diversity would probably be the last two things on your mind in a region known more for its steel industry than its sacred space. read more »
Los Angeles — and other modern megacities — conjure increasingly unique genetic profiles that point the way to a new medical industry: Call it urbo-pharmaceuticals. Investors are needed.
Is there a pill that might inoculate us from smog?
Is there a gene we can target that would make us resistant to resurgent infectious diseases?
And is there a way to use genetic data to insulate new immigrants from some of the metabolic challenges of living in a new land of plenty?
Welcome to the slowly emerging world of environmental medicine and its inevitable outgrowth, environmental pharmaceuticals: compounds specifically suited for mitigating the physiological challenges of mega-city life in the 21st century. read more »
The world press has been fixated on the "Beijing" traffic jam that lasted for nearly two weeks. There is a potential lesson here for the United States, which is that if traffic is allowed to far exceed roadway capacity, unprecedented traffic jams can occur.
The Inner Mongolia Traffic Jam: First we need to understand that this was not a "Beijing" traffic jam at all,or even on the outskirts of Beijing. The traffic jam came no closer to Beijing than 150 miles (250 kilometers) away, beyond the border of the city/province of Beijing, through the province of Hebei and nearly to the border of Inner Mongolia. read more »
2010 has been something of an annus mirabilis in Australian politics. On 24 June a prime minister was dumped before facing the voters a second time. This was the first time ever for such an early exit. Then the election on 22 August produced a “hung parliament”, an outcome not seen since the 1940s. Having fallen short of enough seats to form government, the major parties are scrambling for the support of four independents and one Green in the House of Representatives. read more »
Paul Krugman got it right. But it should not have taken a Nobel Laureate to note that the emperor's nakedness with respect to the connection between the housing bubble and more restrictive land use regulation. read more »
Every week we read that yet another major housing project has been turned down by the Courts here in New Zealand because of the need to protect "rural character" or "natural landscapes". This may well have profound short and long-term consequences for the future of our middle class, as it does for the same class in countries around the advanced world.
Every week a multitude of smaller developers abandon their projects because Councils’ compliance costs and development contributions make the projects unviable – even if the land were free. And it’s not. read more »