So, I have a question. This might sound like I’m trying to be snarky, but I’m actually genuinely in search of an answer: Is there any economist out there other than Wendell Cox and Joel Kotkin who actually believes this?
This all should give some pause to the relentless hoopla about the country’s supposed “urban renaissance.” The roots of the current economic crisis lie deep in urban economies, where employment growth that has lagged even in good times. During the last economic expansion, urban job growth was roughly one-sixth that of suburbs and one-third that of smaller communities.
I believe the smart growth-caused-the-subprime-mortgage theory originated with Wendell Cox, and while Joel Kotkin’s statement is rather vague and leaves a lot of wiggle room, it sure sounds like he’s buying into it, too. Any others to add to the list?