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June 22, 2011
The American suburbs are a giant Ponzi scheme
We've done this because, as with any Ponzi scheme, new growth provides the illusion of prosperity. In the near term, revenue grows, while the corresponding maintenance obligations -- which are not counted on the public balance sheet -- are a generation away.
You'll definitely enjoy reading this article in its entirety. That's assuming you like reading horror stories that is.
Real Estate Newsletter Articles this Week: Existing-Home Sales Increased to
4.15 million SAAR in November
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At the Calculated Risk Real Estate Newsletter this week:
[image: Existing Home Sales]*Click on graph for larger image.*
• NAR: Existing-Home Sales Increase...
12 hours ago
2 comments:
"...over thousands of years, people have traditionally built places scaled to the individual. It is only the last two generations that we have scaled places to the automobile."
That rather ignores several generations where places were scaled to the commuter railways - if not in the US, then certainly in Europe. Plus the bus and the tram.
dearieme,
It does fit rather well with the Seattle area though. Sigh.
We are about as far from bullet trains as far can get. We have opted instead to build a $4.25 billion car tunnel. That's just an estimate of course. If I was a betting man, I'd bet a dollar to win a dime that it will cost more than that.
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