28 Nov '11, 6pm

What Caused The Real Estate Meltdown? The Collapse Of The Suburban Fringe

What Caused The Real Estate Meltdown? The Collapse Of The Suburban Fringe

Kim Snyder Long Island /CC BY 2.0 What really caused the real estate meltdown? A lot of Republicans blame Bill Clinton , because of the Real Estate Reinvestment Act, which they say made it too easy for certain, usually non-white people to buy houses instead of continuing to live in Mr. Potter's slums. Even Mayor Bloomberg of New York says the Feds did it . Others, like Jeff Rubin, blame the price of oil . Now Christopher Leinberger notes another cause in the New York Times : the collapse of the car-dependent suburban fringe. It is due to a dramatic demographic shift that is causing cities to boom while the suburbs empty. Many boomers are now empty nesters and approaching retirement. Generally this means that they will downsize their housing in the near future. Boomers want to live in a walkable urban downtown, a suburban town center or a small town, according to a recent s...

Full article: http://www.treehugger.com/economics/what-caused-real-esta...

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