Wednesday, October 22, 2008
Can sprawl be blamed for the economic crisis?
Apparently Chris Leinberger thinks so. I think there is certainly a case to be made connecting the policies that created and encouraged more sprawl -- access to easy credit with little money down, ARMs, easily available home equity loans, cheap gas, the mortage interest deduction, among others -- that ultimately resulted in the housing boom and bust. Essentially, the ingredients that helped to fuel suburban and exurban sprawl were also factors in the current economic meltdown. I don't think it is too much of a stretch to state, as does Leinberger, that sprawl helped to created this mess.