Wednesday, June 11, 2008

Escaping the Housing Bust

But is it really escaping - or just delaying? Read the last line: "The fastest-growing areas also often suffer from a lack of regional planning. These burgeoning, car-dependent sprawling urban areas will become increasingly unaffordable if energy prices remain high and infrastructure needs push up property taxes." In other words, the other shoe has yet to drop. Until we address the fundamental problem of subsidizing unsustainable suburban and exurban development, we're just playing housing bubble whack-a-mole.