Developing Affordable Housing Ecosystems World Wide
[Continued from yesterday's Part 3 and the previous Part 1 and Part 2.] By: David A. Smith By now, it’s clear that the Fiscal Times‘s story of Harrisburg‘s bond problems is only the beginning of another lengthy and protracted tale, full of words and fury and signifying writedowns. The city has two huge [...]
[Continued from April 1st Part 2 and the previous Part 1.] By: David A. Smith The more I dug into the Fiscal Times-inspired story of Harrisburg‘s spectacular insolvency, the more grimly fascinating it became. We’ve now reached bottom – the city cannot patch its debt service hole through normal operations, and the mayor [...]
[Continued from yesterday's Part 1.] By: David A. Smith Yesterday we scratched the surface of Harrisburg, Pennsylvania‘s financial troubles, as presented in The Fiscal Times – whereupon I got interested in the city’s finances, and started searching around the Web for particulars, coming across the city’s 135-page FY 10 budget (pdf): Uh, [...]
By: David A. Smith Sovereign bankruptcy is breaking out all over, affecting the Eurozone (Greece, with Spain to follow), nations (Dubai, maybe backed by Abu Dhabi), states (California), and cities (Harrisburg, PA). This is a tragedy with no villains, and as far as I can see, no happy ending whatsoever. As reported in The [...]
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