Mark Hinshaw, Seattle architect and critic, penned a piece for Crosscut on Sick suburbs, expiring exurbs, with this interesting observation:
In recent years, the Center for Neighborhood Technology in Chicago has been tracking foreclosures in a number of urban areas. They found a common pattern, even more sharply defined than the one here: most foreclosures have occurred around the edges, while home ownership near the center has been stable by comparison — even if the values are somewhat diminished. Moreover, organizations such as the National Resources Defense Council have found that there is a direct correlation between high car ownership and foreclosures.
The old saw about “Drive till you qualify” has been turned rather cruelly on its head. Turns out some people should have never gotten behind the wheel to begin with. …
