"Smart Growth" Bust

Attn. Wilmette. Joel Kotkin, Forbes (emphasis mine):

In some markets, prices exploded as people moved up too quickly into ever more expensive housing. Housing inflation was further exacerbated by “smart growth” policies, which limited new home construction in suburban areas and instead promoted dense, “transit oriented” housing with limited market appeal and economic logic.

But looking ahead, this is interesting--millenials like the suburbs even more than their Boomer parents. Well, I haven't seen it yet but it's early days.

And the market probably hasn't bottomed out yet. Since we have President Brilliant in charge.

...Smart bust:

So if Obama doesn’t appear interested in the job of president, what does he do day after day? Well, he takes his meetings just like any other president would, though even then, he seems to lack a certain focus and on a few occasions, actually leaves with the directive that be given a summary of the meeting at a later date. I hear he plays a lot of golf, and watches a lot of television – ESPN mainly. I’ll tell you this – if you want to see President Obama get excited about a conversation, turn it to sports. That gets him interested. You start talking about Congress, or some policy, and he just kinda turns off. It’s really very strange. I mean, we were all led to believe that this guy was some kind of intellectual giant, right? Ivy League and all that. Well, that is not what I saw. Barack Obama doesn’t have a whole lot of intellectual curiosity. When he is off script, he is what I call a real “slow talker”. Lots of ummms, and lots of time in between answers where you can almost see the little wheel in his head turning very slowly. I am not going to say the president is a dumb man, because he is not, but yeah, there was a definite letdown when you actually hear him talking without the script.

President Brilliant.