“What were seeing right now is an inability to look at how we live and how it relates to our problems, and financial problems,” said Kunstler Tuesday during a speaking engagement with the Congress for the New Urbanism. “Production homebuilders, mortgage lenders, real estate agents, they are all sitting back now waiting for the, quote, bottom of the housing market to come with the expectation that things will go back to the way they were in 2005.”
But despite massive government expenditures to restart the old economic engine driven by suburban homebuilding, recovery is elusive, Kunstler said. The author of “The Geography of Nowhere” and “The Long Emergency” argues that suburbanization has been a multi-decade American experiment, and a failed one. - Streetsblog
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