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May 11, 2008

Richard Florida

Costs of Sprawl

« University Relocation | Main | To Globalize or Not to Globalize? »

A terrific new report by Joe Cortright for CEO's for Cities finds that:

high gas prices are not only implicated in the bursting of the housing bubble, but that the higher cost of commuting has already re-shaped the landscape of real estate value between cities and suburbs. Housing values are falling fastest in distant suburban and exurban neighborhoods where affordability depended directly on cheap gas.

The full report is here.

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Comments

hayden fisher

One unrelated corollary to this story and the re-rise of urban cores by creatives and professionals generally will be the resurgence of the urban school systems stemming from an new injection of students from homes of educated and high-earning parents. Also, the strain on transportation will diminish and we will be able to curtail the dumping of tax dollars into roadways to suburbia and the laying of new pavement (liabilities). Of course, our WORTHLESS politicians will gleefully assume credit for all of this even though their inept energy policies helped lead to the renewed surge or urban America. Perhaps, just perhaps, they'll start paying attention to cities more in the near terms.

hayden fisher

One unrelated corollary to this story and the re-rise of urban cores by creatives and professionals generally will be the resurgence of the urban school systems stemming from an new injection of students from homes of educated and high-earning parents. Also, the strain on transportation will diminish and we will be able to curtail the dumping of tax dollars into roadways to suburbia and the laying of new pavement (liabilities). Of course, our WORTHLESS politicians will gleefully assume credit for all of this even though their inept energy policies helped lead to the renewed surge or urban America. Perhaps, just perhaps, they'll start paying attention to cities more in the near terms.

hayden fisher

FYI, here's a great article: http://bloomberg.com/news/marketsmag/mm_0608_story2.html

Talk about the creative class answering the call of duty. Can we nominate Bernake for President?? Somewhere out there, Hamilton is finally calling for a toast and Jefferson is looking for a "hiding corner".

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