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Introduction to urban sprawl
The consequences of urban sprawl
The consequences of urban sprawl
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America is the land of opportunity and vast wealth, but what happens when a recession falls upon the country? Will the people of America survive? In Richard Florida’s article “How the Crash Will Reshape America”, he explains the different approaches America can be transformed to help them out of the economic crisis. Although Florida presented different solutions to help get through the times of the recession, the housing market whether we are considering new construction or renovations on existing homes, will lead a path to aid us in lifting the release of the perils of a recession. “How the Crash Will Reshape America” explored many solutions such as transforming small towns into larger cities, utilizing the town and the residential areas that border them more wisely and choosing the leading cities that are declining in business, housing and industry to expand them by making them more appealing to new professionals that are not yet established with a steady job or those who are established but looking to expand and save. Although jobs would be created, the first step and most plausible solution would be to build more new homes in towns where the housing market would increase in order to attract people and future businesses. This solution would encourage growth in different aspects such as new homes or businesses, which then in turn would lead to more jobs in order to build these constructions and correspondingly jobs would be available in the new businesses that were created (Florida, 2009). According to John Vogel’s article “Thinking Outside the Housing Bubble” published in the US News, the housing area aids in job development and increases the opportunity for employment that will assist the United States in solving the recessi... ... middle of paper ... ... where one goes, people must have a place to live. Reference Baker, D. (2008, March 21). Now. PBS. Retrieved April 5, 2014, from http://www.pbs.org/now/shows/412/housing-recession.html Florida, R. (2009). Passing the Buck-Economy in Crisis?. In g. Goshgarian & K. Krueger (2011), Dialogues:an argument rhetoric and reader (7th ed., pp. 515-527). Boston, MA: Pearson Longman. Mui, Y. (2013, January 29). Housing emerges as economic bright spot after years in the dark. Washington Post. Retrieved April 1, 2014, from http://www.washingtonpost.com/business/economy/housing-emerges-as economic-bright-spot-after-years-in-the-dark/2013/01/28/68c4bd74-6700-11e29e1b-07db1d2ccd5b_story.html Vogel, J. (2013, June 14). News Opinion. US News. Retrieved April 5, 2014, from http://www.usnews.com/opinion/blogs/economic-intelligence/2013/06/14/housing bubble-or-credit-bubble-it-matters
... motivation for wealthy individuals to return to the inner-city core but it also provides impetus for commercial and retail mixed-use to follow, increasing local revenue for cities (Duany, 2001). Proponents of gentrification profess that this increase in municipal revenue from sales and property taxes allows for the funding of city improvements, in the form of job opportunities, improved schools and parks, retail markets and increased sense of security and safety ((Davidson (2009), Ellen & O’Reagan (2007), Formoso et. al (2010)). Due to the increase in housing and private rental prices and the general decrease of the affordable housing stock in gentrifying areas, financially-precarious communities such as the elderly, female-headed households, and blue-collar workers can no longer afford to live in newly developed spaces ((Schill & Nathan (1983), Atkinson, (2000)).
Downs has sought to dispel myths surrounding housing policy. The first myth he debunks is the myth that all government-sponsored urban policies have failed. Downs believes that although they had resulted in greater hardships for poorer neighborhoods, the policies have given great benefits to a majority of urban American families. While he does not consider these policies to be a complete success, he refuses to call them failures due to the fact that they did indeed improve the standard of living for most of urban America. Downs also calls to our attention the effect of housing policies on the number of housing units. Starting in 1950, housing policies were aimed at ending the housing shortage until focus was shifted to low income households in the midst of the Vietnam War. To Downs, ending the shortage was important because it was affecting the American way of life. Couples were delaying marriage, extended families were living in one home, and overcrowded housing led to overcrowded local facilities, such as schools. Downs also argues that this overcrowding led to an inescapable cycle of “substandard”
As the lease of my apartment is coming to an end it had me thinking of achieving my own American Dream of home ownership but as I do my research I find the dream is far from coming true. I am sure that the issue of housing prices and rent rates are what most of us Bay Area residents talk about and debate. It is an issue that needs to be addressed by the officials of the area, city mayors, affordable housing committees, social justice activists,lawmakers, and even employers. Skyrocketing prices, low inventory, and investors’ bidding wars are not only pushing the middle and lower classes out of San Francisco and the Bay Area out but will completely eliminate them.
“The housing market will get worse before it gets better” –James Wilson. The collapse of the United States housing market in in 2008 was one of the most devastating moments for the world economy. The United Sates being arguably the most important and powerful nation in the world really brought everyone down with this event. Canada was very lucky, thanks to good planning and proper preventatives to avoid what happened to the United States. There were many precursor events that occurred that showed a distinct path that led to the collapse of the housing market. People were buying house way out of their range because of low interest rates, the banks seemingly easily giving out massive loans and banks betting against the housing market. There were
Waggoner, John. "Is Today's Economic Crisis Another Great Depression?" USA Today. N.p., 4 Nov. 2008. Web. 7 Mar. 2014.
In “The Big Short”, this movie about the economic collapse of 2008 in America highlights how Americans of all racial backgrounds were hit hard when the housing market collapsed. The film provides a very compelling argument and describes how the market crashed because banks began to give out more unstable loans out to people in order to sell more properties, which eventually led to the housing market to be built upon millions of risky loans. This practice grew until the housing market became too unstable because of all the risky loans and resulted in an economic crash. The housing market collapse led to millions of Americans to lose their homes because of foreclosures and led to massive amount of homelessness and unemployment since the Great
Joseph Alcock reiterates that a “lack of affordable housing can be a barrier to a strong reliable economy” (9). High housing costs can influence where businesses and corporations decide to locate, which will affect the local economy. First-time homebuyers will most likely shy away from moving to Orange County because of these high prices on homes. In addition, many people leave after graduating from local college and universities because families probably not want to continue paying a lot for their own homes. These youthful passage level specialists drive neighborhood economies. On the off chance that they can't stand to live in the area, nearby economies will endure. An absence of affordable housing can push zone specialists to settle outside of the territory, bringing about longer drives, expanded movement blockage and contamination, diminished efficiency, and a reduced personal satisfaction for the area. An absence of reasonable rental housing confines the capacity of tenants to put something aside for an initial installment on a home, which restricts their capacity to in the end get to be property holders and assemble individual riches through housing appreciation. An absence of affordable housing improves the probability of vagrancy. An absence of reasonable housing has brought about congestion and critical increments in family unit and group stress. An absence of affordable housing causes families to live in substandard dangerous
It can be argued that the economic hardships of the great recession began when interest rates were lowered by the Federal Reserve. This caused a bubble in the housing market. Housing prices plummeted, home prices plummeted, then thousands of borrowers could no longer afford to pay on their loans (Koba, 2011). The bubble forced banks to give out homes loans with unreasonably high risk rates. The response of the banks caused a decline in the amount of houses purchased and “a crisis involving mortgage loans and the financial securities built on them” (McConnell, 2012 p.479). The effect on the economy was catastrophic and caused a “pandemic” of foreclosures that effected tens of thousands home owners across the U.S. (Scaliger, 2013). The debt burden eventually became unsustainable and the U.S. crisis deepened as the long-term effect on bank loans would affect not only the housing market, but also the job market.
...he general decline in American manufactures has not made our current crisis any easier to deal with. For a long time, they have been seen as problems, not opportunities for investment, and with reason. Only a a naïve youngster with an ideological attachment to a product would take his business into the depressed, troubled husk of a city. Nevertheless, the Great Recession was caused by an overabundance of houses used, not for their true value as places to live and work, but as chips in a game of financial poker in which all the houses eventually lost. Investing in property for the true value of the place isn't just a needed change in behavior: it's the first step in reclaiming the down-to-earth entrepreneurship America needs to survive in a changing world. I look at a place like Holyoke and I can't think of a more fitting place to lead America out of the past.
result from the withdrawal of the federal government’s investment in affordable housing. It has been noted that
At this point, we can visually see how economies are, and questions will appear on what must be done for our economy to rise again. What we want to do is focus on housing. This idea will help to reduce the mortgage interest in with this will allow us to offer low-income housing tax credit. We believe that will help improve the economy. As a result to this, the lower and middle class are
This paper was written to give a general outline of some steps that can be taken to decrease the supply of housing , increase the demand of housing, and fix some of the issues that created the housing bubble. It is not comprehensive as there are more things that can be done, but I have tried to include some of the most relevant. This multi-strategy approach does not only help with the housing crisis, but also is instrumental in economic growth, and providing positive long-term incentives.
The American dream was owning a house with a white picket fence. Now this dream is impossible. Individuals and families find it more difficult to find a decent home to rent in a suitable living area. According to Huffington Post, the hourly wage needed to afford a two bedroom apartment in California is at least $26 an hour. This is more than triple the minimum wage. Eviction, relocation, and inflation are the common keywords that associate with affordable housing. I 'm hoping to persuade you to support affordable housing for all. Today, I will be discussing, one, inflation of the housing market that needs to decrease, two, eviction from homes, three having to move to communities far from their work site.
In President Reagan's own words, homelessness is one problem that we have had, even in the best of times (Reagan). However, economic experts are all in consensus that this is the worse era for the housing market. One...
Warwick J. McKibbin, and Andrew Stoeckel. “The Global Financial Crisis: Causes and Consequences.” Lowy Institute for International Policy 2.09 (2009): 1. PDF file.