04 Apr '12, 1pm

How the evolving housing market will help sustainable communities

How the evolving housing market will help sustainable communities

The subject of the Great Recession came up, and I volunteered that I thought the persistent economic slump had hurt both good and bad development. But I offered that it had hurt bad development (e.g., land-consuming, totally automobile-dependent subdivisions on the suburban edge) more than good, given that new, speculative development in sprawling outer locations had virtually ground to a halt. (What you see on the ground now that looks new was actually invested and entitled a decade or more ago.) Many city infill and redevelopment projects, by contrast, are going forward and even commanding market premiums for their urban locations. Housing values have declined much more, on a percentage basis, in sprawling subdivisions as compared to walkable, centrally located neighborhoods, many of which have even held steady or increased in value

Full article: http://switchboard.nrdc.org/blogs/kbenfield/does_the_hous...

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