Did Smart Growth Fuel the Property-Price Boom?
Wall Street Journal Development Blog, June 14, 2011
In a recent paper, though, Wendell Cox, an Illinois-based consultant and an adjunct scholar with the conservative National Center for Policy Analysis, argues land-use restrictions and planning policies like smart growth fueled property prices and became the engine of the housing boom and bust. The price decline on the “drivable fringe” was generally twice as bad during the crash, said Christopher Leinberger, a developer of “walkable urban projects” and a visiting fellow at the Brookings Institution. “And it was that part of the market that is the least regulated,” he said. Smart-growth areas or walkable neighborhoods within metro markets had price drops but they ultimately “held their value, thank you very much.” The problem, Mr. Leinberger added, was that “we built too much of the wrong stuff in the wrong location.”
A City Tries to Slim Down
New York Times, June 13, 2011
This city’s Broadway displays its own array of neon signs — two dozen fast-food restaurants, as diverse as McDonald’s and the local Indi’s — beckoning along a 2.8-mile corridor bookended by low-income neighborhoods on the front lines of a multimillion-dollar battle against obesity. The street symbolizes one of many hurdles facing officials here working to put a severely overweight population on a diet.
Poor public transit called threat to older Americans
Reuters, June 14, 2011
A new study says more than 15.5 million seniors, aged 65 to 79, will have poor or nonexistent access to public transportation by 2015. Many outlying suburbs and “exurbs” simply have few options for getting around for those who do not drive.
OC commuters urged to take public transit on Dump the Pump Day
KABC (Los Angeles), June 14, 2011
The Orange County Transportation Authority is encouraging commuters to give public transportation a try. They’ll even throw in breakfast. This Thursday is national Dump the Pump Day. It’s all about avoiding high gas prices by taking public transportation.
The Misunderstood Mortgage Interest Deduction
New York Times Economix blog, June 15, 2011
The home-mortgage interest deduction does not by itself significantly distort housing markets. Too much owner-occupied housing has been built because housing is excluded from sales and other taxes owed by businesses.
Mudd named regional director of state ECD
The Tennessean, June 13, 2011
Gallatin businessman Reggie Mudd was selected Thursday to be the regional director of Northern Middle Tennessee for the state Department of Economic and Community Development, further strengthening the city’s ties to the agency. He is a member of the Gallatin Economic Advisory Development Board, serves on the board of Cumberland Region Tomorrow and is the chairman of Sumner Foundation.