No Place Like Home: federal stress test for land use, not just banks

May 7, 2009

(Counterpunch) Eonomists agree that the collapse in housing markets in the United States plunged world economies into the worst crisis since the 1930’s. A revival of housing markets and new construction is one of the anticipated signs of recovery. In the meantime, the US taxpayer is on the hook for trillions of dollars of debt constituted from the detritus of the housing boom. If value is to be created in service of a new economic order, it is imperative that stimulus money be directed in ways that prevent reigniting a model of growth through construction and development that has demonstrably failed: namely, through the fraudulent wealth creator called suburban sprawl. Read the rest of this entry »