Transportation For America » housing crisis

Worldchanging: Is ‘The Old Economy of Car Dependence’ Over?

November 25, 2008
By Stephen Lee Davis

Worldchanging

If you’re not reading Worldchanging on a regular basis, you’re definitely missing one of the most positive, encouraging, and exciting daily blasts of news from the world of sustainability and innovation. Alex Steffen and his team have been tirelessly working to point the way to a brighter future for America and the world that contrasts powerfully to the most dire predictions of energy shortages and global warming if we do nothing.

Sometimes when we’re so focused on innovation, there can be a blind trust in some mystery technology, not yet created, that will solve our energy problems. This is especially apparent with regard to our automotive fleet that will “one day soon” run on banana peels or solar power. Alex and Worldchanging, to their credit, have looked around and seen obvious, ready-to-go solutions to curb our energy thirst and cut emissions, while still getting us where we need to go, outlined in a wonderful essay from a year ago, entitled “My Other Car is a Bright Green City.”

We bring up Worldchanging also to point you to a short piece written by Transportation For America communications director David Goldberg on the connection between the current housing crisis and the old development model based on inexpensive fuel.

An excerpt:

In truth, the phenomenon of sending people ever farther into the countryside to find houses that they (barely) qualified to purchase played no small role in the current global financial crisis. The epicenter of the U.S. foreclosure crisis can be found on the metro fringes. The buyers who stretched and took on variable-rate or interest-only mortgages, along with punishing commutes, to get into houses on the edge found themselves caught in a double bind.

As gas prices and commute costs rose, their “cheap” houses became ever more costly, even as mortgage payments adjusted along with rising interest rates. But when they went to sell, they found the bottom had dropped out of that market, thanks not only to higher gas prices, but also to demographic and cultural changes that were leading more households to look for homes in more convenient locations.

Read the full article at Worldchanging, and bookmark them for return visits. Our thanks to Alex and Worldchanging for the space.

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Suburbia’s not dead yet

July 9, 2008
By Andrew Bielak

Joel Kotkin disputes the notion that high gas prices and a slumping housing market will bring a decline in suburban living and rise of the inner city, prompting a response from at least one blogger. (Los Angeles Times — Joel Kotkin)

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