Thursday, Sep 18, 2008
The Logical American View - don't often write that...
The Renegade Economist: The Great Crash of 2008
Galloping sprawl, such as we’ve experienced in California in the last 16 years, has set us up for “The Great Crash of 2008.”
Urban sprawl inflates the price demanded for nearly every square foot of land from the redwoods to Mexico. It contributes to cycles of boom followed by bust when inflated land values collapse, as now. If the process were simple, we would have mastered it long ago instead of constantly repeating it. Yet they do recur in a rhythm that is almost predictable.
Posted by neo-serf @ 11:37 AM (210 views) Add Comment
1 Comment
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1. icarus said...
Good piece. No comment from Mark Wadswoth yet, though.