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	<title>AHI: United States &#187; Demand</title>
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		<title>A glut by any other name</title>
		<link>http://affordablehousinginstitute.org/blogs/us/2009/10/a-glut-by-any-other-name.html</link>
		<comments>http://affordablehousinginstitute.org/blogs/us/2009/10/a-glut-by-any-other-name.html#comments</comments>
		<pubDate>Tue, 20 Oct 2009 14:07:14 +0000</pubDate>
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				<category><![CDATA[Affordability]]></category>
		<category><![CDATA[Apartments]]></category>
		<category><![CDATA[Asset management]]></category>
		<category><![CDATA[Demand]]></category>
		<category><![CDATA[Housing]]></category>
		<category><![CDATA[New York City]]></category>
		<category><![CDATA[Theory]]></category>
		<category><![CDATA[US News]]></category>

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		<description><![CDATA[

By: David A. Smith 
&#160;
&#8230; is affordability?
&#160;

Am I up when you&#8217;re down?
&#160;
When the homeownership rate drops, what happens to apartment occupancy?&#160; As illustrated by this Wall Street Journal article, the answer depends on two factors:
&#160;
1. Why homeownership rates are dropping
2. How long it has been since the homeownership drop began
&#160;
Start with a fact.&#160; 
&#160;

Start with [...]]]></description>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; BACKGROUND: lime; FONT-FAMILY: Arial; mso-highlight: lime"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><?xml:namespace prefix ="" o ns ="" "urn:schemas-microsoft-com:office:office" /><o:p></o:p></span></p>
<p><span lang="EN" style="FONT-SIZE: 8pt; COLOR: #333333; FONT-FAMILY: Arial; mso-ansi-language: EN">By: </span><span lang="EN" style="FONT-SIZE: 8pt; COLOR: navy; FONT-FAMILY: Arial; mso-ansi-language: EN"><a href="http://www.affordablehousinginstitute.org/bio_DAS_long.php"><span style="COLOR: purple">David A. Smith</span></a></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p></o:p></span> </p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&hellip; is affordability?<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"><img alt="See_saw_bike" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/see_saw_bike_small.jpg" border="0" /></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Am I up when you&#8217;re down?<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">When the homeownership rate drops, what happens to apartment occupancy?<span style="mso-spacerun: yes">&nbsp; </span>As illustrated by this <a href="http://online.wsj.com/article/SB125479559237566623.html"><font color="#800080">Wall Street Journal</font></a> article, the answer depends on two factors:<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><i style="mso-bidi-font-style: normal"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">1. Why </span></i><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">homeownership rates are dropping<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><i style="mso-bidi-font-style: normal"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">2. How long </span></i><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">it has been since the homeownership drop began<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Start with a fact.<span style="mso-spacerun: yes">&nbsp; </span><o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"><img alt="Webb_friday" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/webb_friday_small.jpg" border="0" /></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Start with just the facts, ma&#8217;am<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Apartment vacancies hit their highest point since 1986, surging in cities from <?xml:namespace prefix ="" st1 ns ="" "urn:schemas-microsoft-com:office:smarttags" /><st1:city w:st="on">Raleigh</st1:city>, <st1:state w:st="on">NC</st1:state>, to <st1:city w:st="on"><st1:place w:st="on">Tacoma</st1:place></st1:city>, WA &ndash; <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">While the <i style="mso-bidi-font-style: normal">Journal</i> leaves its choice of cities unremarked, neither of these are primary cities, nor are they at the epicenter of foreclosures &ndash; <st1:city w:st="on">Miami</st1:city>, <st1:city w:st="on">Phoenix</st1:city>, <st1:city w:st="on">Las Vegas</st1:city>, or <st1:state w:st="on">California</st1:state>&#8217;s <st1:place w:st="on">Inland Empire</st1:place>.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">During the third quarter, vacancies increased in 42 markets, improved in 26 markets and remained unchanged in 11 markets. <st1:place w:st="on"><st1:city w:st="on">Omaha</st1:city>, <st1:state w:st="on">Neb.</st1:state></st1:place>, saw the largest rise in vacancies, with the rate rising 1.1 percentage points to 7.4%. Other big rises were seen in <st1:city w:st="on">Memphis</st1:city>, <st1:state w:st="on">Tenn.</st1:state>, <st1:city w:st="on">Indianapolis</st1:city>, <st1:city w:st="on">Raleigh</st1:city> and <st1:place w:st="on"><st1:city w:st="on">Tacoma</st1:city></st1:place>.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"><img alt="Us_foreclosure_rates" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/us_foreclosure_rates_small1.jpg" border="0" /></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Here&#8217;s a hint: dark red is bad<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">If apartment vacancies are high in such normal-America cities as <st1:city w:st="on">Raleigh</st1:city> and <st1:place w:st="on"><st1:city w:st="on">Tacoma</st1:city></st1:place>, the cause is not a glut of supply, but a withering of demand:<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&ndash; as rising unemployment continued to chip away at demand during the traditionally strong summer rental months.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">People tend to forget that <u><span style="COLOR: blue"><a href="http://www.affordablehousinginstitute.org/blogs/us/2006/03/housing_demand.html">housing demand is elastic</a></span></u>. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"><img alt="Plastic_man" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/plastic_man_small.jpg" border="0" /></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">The muscles in my mighty arms<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Are as strong as rubber bands<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">When housing is cheap, people consume more &ndash; they move out of the house, lose the roommates, buy a larger home with a media room, a home office, or a game room.<span style="mso-spacerun: yes">&nbsp; </span>Going the other way, when housing becomes expensive: <i style="mso-bidi-font-style: normal">the total number of households shrinks</i>.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Driving the change is the troubled employment market, which is closely tied to rentals. With unemployment at 9.8% &ndash; <span style="mso-spacerun: yes">&nbsp;</span>a 26-year high &ndash;<span style="mso-spacerun: yes">&nbsp; </span><o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"><img alt="Shrunken_head" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/shrunken_head_small.jpg" border="0" /></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">&#8220;Hey, aren&#8217;t you as big as you think?&#8221;<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Young singles double and triple up in larger roommate combinations.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Roommates" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/roommates_small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">And with the money we save not washing, we can be solvent!<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&ndash; more would-be renters are doubling up or moving in with family and friends during periods of job loss. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Young adults move back home (&#8217;boomerang kids&#8221;).<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua"><IMG alt=Moving_back_home src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/moving_back_home_small.jpg" border=0></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 8pt; font-family: arial; mso-bidi-font-size: 10.0pt">Even if you charge him rent, household consumption has shrunk<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">Landlords have been particularly battered because unemployment has been higher among workers under 35 years old, who are more likely to rent. <o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">Families put young children two to a bedroom.<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua"><IMG alt=Bunk_beds src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/bunk_beds_small.jpg" border=0></SPAN><SPAN style="font-size: 8pt; font-family: arial; mso-bidi-font-size: 10.0pt">Most of us grew up with bunk beds at one time or another<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">The result is fewer households, and higher structural vacancy:<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">The U.S. vacancy rate reached 7.8%, a 23-year high, according to Reis Inc., a New York real-estate research firm that tracks vacancies and rents in the top 79 U.S. markets. <o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">When that happens, some landlords, usually of weaker properties, cut their rents as they seek to prop up occupancy, at least in the short term:<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">Meanwhile, the air leaving the market is driving rents down, most sharply in markets that had been chugging along until a year ago, when unemployment accelerated, including <st1:City w:st="on">Tacoma</st1:City>; <st1:City w:st="on">San Jose</st1:City>, <st1:State w:st="on">Calif.</st1:State>; and <st1:place w:st="on"><st1:City w:st="on">Orange County</st1:City>, <st1:State w:st="on">Calif.</st1:State></st1:place><o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua"><IMG alt=Wsj_apartment_glut_expands_landlords_squeezed_091006 src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/wsj_apartment_glut_expands_landlords_squeezed_091006.gif" border=0></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 8pt; font-family: arial; mso-bidi-font-size: 10.0pt">From the <I style="mso-bidi-font-style: normal">WSJ</I>: higher vacancy squeeze rents down<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">Nationally, effective rents have fallen by 2.7% over the past year, to around $972.<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">Only 2.7%.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>Could be a lot worse.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>Still, with structural weakness embedded in the rental sector, as long as the economy continues to shed jobs, we can expect to see apartment occupancies wobbling, even though new construction has largely dwindled to a stop.<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua"><IMG alt=Slowing_down src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/slowing_down_small.jpg" border=0></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 8pt; font-family: arial; mso-bidi-font-size: 10.0pt">Not so flashy any more<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">For the next six months, occupancy will also drop cyclically, because housing demand expands in the late spring, when people tend to move house and when we graduate a new crop of collegians.<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">The [vacancy] rate is expected to climb further in the fall and winter, when rental demand is weaker, pushing vacancies to the highest levels since Reis began its count in 1980.<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">The weakness has even hit that least-American of marketplaces: <st1:place w:st="on"><st1:City w:st="on">Manhattan</st1:City></st1:place>.<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><st1:City w:st="on"><st1:place w:st="on"><SPAN style="font-size: 10pt; font-family: arial">Manhattan</SPAN></st1:place></st1:City><SPAN style="font-size: 10pt; font-family: arial"> has all the drivers of structural rental tightness: pernicious and stubborn rent control, severe land restrictions and barriers to development, and a strong employment base.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>Even so, <st1:City w:st="on"><st1:place w:st="on">New York City</st1:place></st1:City> landlords are confronting market forces, some for the first time.<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">In <st1:State w:st="on">New York</st1:State>, Jennifer Hyman rented a one-bedroom apartment in July at a monthly rate of $1,950 &#8212; down from $2,450 for the previous tenant &#8212; when she returned to the city after graduating from <st1:place w:st="on"><st1:PlaceName w:st="on">Harvard</st1:PlaceName> <st1:PlaceName w:st="on">Business</st1:PlaceName> <st1:PlaceType w:st="on">School</st1:PlaceType></st1:place>. Her first month&#8217;s rent was free &#8212; and her landlord painted the apartment, scrubbed the floors and added window coverings.<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">Painting the apartment?<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>Scrubbing the floors?<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>Sprucing the window coverings?<SPAN style="mso-spacerun: yes">&nbsp; </SPAN><o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua"><IMG alt=ROTFLMAO src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/rotflmao_small.jpg" border=0></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">Half of America of ROTFLMAO right now, since in <st1:country-region w:st="on"><st1:place w:st="on">America</st1:place></st1:country-region> (the land of the Kleen Rest Room and the free ice tea refill), all those things are <I style="mso-bidi-font-style: normal">de rigueur </I>for landlords upon new rentals.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>It&#8217;s called &#8220;prepping a turnover vacancy.&#8221;<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">&#8220;The experience was night-and-day different from before,&#8221; said Ms. Hyman, who had rented other <st1:City w:st="on"><st1:place w:st="on">Manhattan</st1:place></st1:City> apartments between 2002 and 2007, <B style="mso-bidi-font-weight: normal">each time paying a brokers&#8217; fee</B> &ndash;<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">Another sign of a formerly hyper-inflated apartment; the commodity was so scarce people paid finders&#8217; fees to secure one:<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">&ndash; and feeling pressured to sign a lease the minute she found an apartment.<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">Third sign: haste in closing, because if you don&#8217;t take it, there is someone right behind you.<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">Now, she says, &#8220;Renters are the ones with the power.&#8221;<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">Not all the power, but certainly more than the zero they had before.<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">&#8220;When job losses stop, rents will firm and occupancies will firm,&#8221; said Richard Campo, chief executive of <A href="http://www.camdenliving.com/">Camden Property Trust</A>, a Houston-based real-estate company.<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><st1:City w:st="on"><st1:place w:st="on"><SPAN style="font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua"><IMG alt=Camden_logo src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/camden_logo.gif" border=0></SPAN></st1:place></st1:City></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><st1:City w:st="on"><st1:place w:st="on"><SPAN style="font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua"></SPAN></st1:place></st1:City><SPAN style="font-size: 8pt; font-family: arial; mso-bidi-font-size: 10.0pt">&#8220;Living inexpensive?&#8221;<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">Well, yes.<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">The deteriorating rental market comes amid some signs of stabilization in the housing sales market. <o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua"><IMG alt=Wsj_homes_unemployment src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/wsj_homes_unemployment_small.jpg" border=0></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">Normally, home ownership and rental are countercyclical, so as the demand gradually rises, we can expect apartment occupancy to tick up before home prices do.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN><o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">But then there&#8217;s our Federal government putting its thumb on the rent-buy scales:<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p><IMG alt=Weighing_scales src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/weighing_scales_small.jpg" border=0></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 8pt; font-family: arial; mso-bidi-font-size: 10.0pt">Need rebalancing?<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">An $8,000 tax credit for first-time home buyers and investor demand helped to boost sales of low- and moderately priced homes this summer. <o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">But some analysts warn demand could fall with the expiration of the tax credit and supply could increase with more foreclosed homes hitting the market.<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">Both are true: housing will fall again, and supply will probably rise, particularly when one looks at the interest rate resets still before us:<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua"><IMG alt=Loan_reserts src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/loan_reserts_small.jpg" border=0></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 8pt; font-family: arial; mso-bidi-font-size: 10.0pt">We&#8217;re not through the rate resets by any means<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">While a housing recovery could lead the best quality renters to move out and purchase homes, the move-out rate <I style="mso-bidi-font-style: normal">[into homes &ndash; Ed.] </I>isn&#8217;t expected to surpass levels seen during the housing boom earlier this decade. <o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">In other words, we have a very long hill to climb.<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">Mortgage credit standards have tightened considerably since then, which should keep more renters in place.<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua"><IMG alt=Felix_tightening src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/felix_tightening_small.jpg" border=0></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 8pt; font-family: arial; mso-bidi-font-size: 10.0pt">Can&#8217;t support that much, can I?<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">In the intermediate term, that should be good for rental.<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">Apartment owners ultimately could gain from the housing bust because the <st1:place w:st="on"><st1:country-region w:st="on">U.S.</st1:country-region></st1:place> home-ownership rate has fallen as foreclosures rise. But the housing bust has also flooded some of the most overbuilt housing markets with new apartment inventory as developers have converted unsold condominium developments into rentals.<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; font-family: arial">Reis projects that the vacancy rate will peak at well above 8% in mid-2010.<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt"><SPAN style="font-size: 10pt; font-family: arial">Folks, this recession is a long way from over.<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua"><IMG alt=Wsj_apartment_glut_expands_signs_091006 src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/wsj_apartment_glut_expands_signs_091006_small.jpg" border=0></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together"><SPAN style="font-size: 8pt; font-family: arial; mso-bidi-font-size: 12.0pt; mso-bidi-font-family: 'times new roman'">SIGNS advertise apartments for rent in <st1:place w:st="on"><st1:City w:st="on">San Francisco</st1:City></st1:place> in July. Rents declined during the third quarter, usually a strong period for rentals<o:p></o:p></SPAN></P><br />
<P class=MsoNormal style="margin: 0in 0in 0pt"><SPAN style="font-size: 10pt; font-family: arial"><o:p>&nbsp;</o:p></SPAN></P></p>
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&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: lime; FONT-FAMILY: Arial; mso-highlight: lime&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;?xml:namespace prefix =&quot;&quot; o ns =&quot;&quot; &quot;urn:schemas-microsoft-com:office:office&quot; /&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p&gt;&lt;span lang=&quot;EN&quot; style=&quot;FONT-SIZE: 8pt; COLOR: #333333; FONT-FAMILY: Arial; mso-ansi-language: EN&quot;&gt;By: &lt;/span&gt;&lt;span lang=&quot;EN&quot; style=&quot;FONT-SIZE: 8pt; COLOR: navy; FONT-FAMILY: Arial; mso-ansi-language: EN&quot;&gt;&lt;a href=&quot;http://www.affordablehousinginstitute.org/bio_DAS_long.php&quot;&gt;&lt;span style=&quot;COLOR: purple&quot;&gt;David A. Smith&lt;/span&gt;&lt;/a&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt; &lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&amp;hellip; is affordability?&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;img alt=&quot;See_saw_bike&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/see_saw_bike_small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Am I up when you&amp;#8217;re down?&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;When the homeownership rate drops, what happens to apartment occupancy?&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;As illustrated by this &lt;a href=&quot;http://online.wsj.com/article/SB125479559237566623.html&quot;&gt;&lt;font color=&quot;#800080&quot;&gt;Wall Street Journal&lt;/font&gt;&lt;/a&gt; article, the answer depends on two factors:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;1. Why &lt;/span&gt;&lt;/i&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;homeownership rates are dropping&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;2. How long &lt;/span&gt;&lt;/i&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;it has been since the homeownership drop began&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Start with a fact.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;img alt=&quot;Webb_friday&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/webb_friday_small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Start with just the facts, ma&amp;#8217;am&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Apartment vacancies hit their highest point since 1986, surging in cities from &lt;?xml:namespace prefix =&quot;&quot; st1 ns =&quot;&quot; &quot;urn:schemas-microsoft-com:office:smarttags&quot; /&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Raleigh&lt;/st1:city&gt;, &lt;st1:state w:st=&quot;on&quot;&gt;NC&lt;/st1:state&gt;, to &lt;st1:city w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;Tacoma&lt;/st1:place&gt;&lt;/st1:city&gt;, WA &amp;ndash; &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;While the &lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;Journal&lt;/i&gt; leaves its choice of cities unremarked, neither of these are primary cities, nor are they at the epicenter of foreclosures &amp;ndash; &lt;st1:city w:st=&quot;on&quot;&gt;Miami&lt;/st1:city&gt;, &lt;st1:city w:st=&quot;on&quot;&gt;Phoenix&lt;/st1:city&gt;, &lt;st1:city w:st=&quot;on&quot;&gt;Las Vegas&lt;/st1:city&gt;, or &lt;st1:state w:st=&quot;on&quot;&gt;California&lt;/st1:state&gt;&amp;#8217;s &lt;st1:place w:st=&quot;on&quot;&gt;Inland Empire&lt;/st1:place&gt;.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;During the third quarter, vacancies increased in 42 markets, improved in 26 markets and remained unchanged in 11 markets. &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Omaha&lt;/st1:city&gt;, &lt;st1:state w:st=&quot;on&quot;&gt;Neb.&lt;/st1:state&gt;&lt;/st1:place&gt;, saw the largest rise in vacancies, with the rate rising 1.1 percentage points to 7.4%. Other big rises were seen in &lt;st1:city w:st=&quot;on&quot;&gt;Memphis&lt;/st1:city&gt;, &lt;st1:state w:st=&quot;on&quot;&gt;Tenn.&lt;/st1:state&gt;, &lt;st1:city w:st=&quot;on&quot;&gt;Indianapolis&lt;/st1:city&gt;, &lt;st1:city w:st=&quot;on&quot;&gt;Raleigh&lt;/st1:city&gt; and &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Tacoma&lt;/st1:city&gt;&lt;/st1:place&gt;.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;img alt=&quot;Us_foreclosure_rates&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/us_foreclosure_rates_small1.jpg&quot; border=&quot;0&quot; /&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Here&amp;#8217;s a hint: dark red is bad&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;If apartment vacancies are high in such normal-America cities as &lt;st1:city w:st=&quot;on&quot;&gt;Raleigh&lt;/st1:city&gt; and &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Tacoma&lt;/st1:city&gt;&lt;/st1:place&gt;, the cause is not a glut of supply, but a withering of demand:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&amp;ndash; as rising unemployment continued to chip away at demand during the traditionally strong summer rental months.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;People tend to forget that &lt;u&gt;&lt;span style=&quot;COLOR: blue&quot;&gt;&lt;a href=&quot;http://www.affordablehousinginstitute.org/blogs/us/2006/03/housing_demand.html&quot;&gt;housing demand is elastic&lt;/a&gt;&lt;/span&gt;&lt;/u&gt;. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;img alt=&quot;Plastic_man&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/plastic_man_small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;The muscles in my mighty arms&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Are as strong as rubber bands&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;When housing is cheap, people consume more &amp;ndash; they move out of the house, lose the roommates, buy a larger home with a media room, a home office, or a game room.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;Going the other way, when housing becomes expensive: &lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;the total number of households shrinks&lt;/i&gt;.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Driving the change is the troubled employment market, which is closely tied to rentals. With unemployment at 9.8% &amp;ndash; &lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp;&lt;/span&gt;a 26-year high &amp;ndash;&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;img alt=&quot;Shrunken_head&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/shrunken_head_small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;&amp;#8220;Hey, aren&amp;#8217;t you as big as you think?&amp;#8221;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Young singles double and triple up in larger roommate combinations.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Roommates&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/roommates_small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;And with the money we save not washing, we can be solvent!&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&amp;ndash; more would-be renters are doubling up or moving in with family and friends during periods of job loss. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Young adults move back home (&amp;#8217;boomerang kids&amp;#8221;).&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua&quot;&gt;&lt;IMG alt=Moving_back_home src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/moving_back_home_small.jpg&quot; border=0&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 8pt; font-family: arial; mso-bidi-font-size: 10.0pt&quot;&gt;Even if you charge him rent, household consumption has shrunk&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;Landlords have been particularly battered because unemployment has been higher among workers under 35 years old, who are more likely to rent. &lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;Families put young children two to a bedroom.&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua&quot;&gt;&lt;IMG alt=Bunk_beds src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/bunk_beds_small.jpg&quot; border=0&gt;&lt;/SPAN&gt;&lt;SPAN style=&quot;font-size: 8pt; font-family: arial; mso-bidi-font-size: 10.0pt&quot;&gt;Most of us grew up with bunk beds at one time or another&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;The result is fewer households, and higher structural vacancy:&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;The U.S. vacancy rate reached 7.8%, a 23-year high, according to Reis Inc., a New York real-estate research firm that tracks vacancies and rents in the top 79 U.S. markets. &lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;When that happens, some landlords, usually of weaker properties, cut their rents as they seek to prop up occupancy, at least in the short term:&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;Meanwhile, the air leaving the market is driving rents down, most sharply in markets that had been chugging along until a year ago, when unemployment accelerated, including &lt;st1:City w:st=&quot;on&quot;&gt;Tacoma&lt;/st1:City&gt;; &lt;st1:City w:st=&quot;on&quot;&gt;San Jose&lt;/st1:City&gt;, &lt;st1:State w:st=&quot;on&quot;&gt;Calif.&lt;/st1:State&gt;; and &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:City w:st=&quot;on&quot;&gt;Orange County&lt;/st1:City&gt;, &lt;st1:State w:st=&quot;on&quot;&gt;Calif.&lt;/st1:State&gt;&lt;/st1:place&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua&quot;&gt;&lt;IMG alt=Wsj_apartment_glut_expands_landlords_squeezed_091006 src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/wsj_apartment_glut_expands_landlords_squeezed_091006.gif&quot; border=0&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 8pt; font-family: arial; mso-bidi-font-size: 10.0pt&quot;&gt;From the &lt;I style=&quot;mso-bidi-font-style: normal&quot;&gt;WSJ&lt;/I&gt;: higher vacancy squeeze rents down&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;Nationally, effective rents have fallen by 2.7% over the past year, to around $972.&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;Only 2.7%.&lt;SPAN style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/SPAN&gt;Could be a lot worse.&lt;SPAN style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/SPAN&gt;Still, with structural weakness embedded in the rental sector, as long as the economy continues to shed jobs, we can expect to see apartment occupancies wobbling, even though new construction has largely dwindled to a stop.&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua&quot;&gt;&lt;IMG alt=Slowing_down src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/slowing_down_small.jpg&quot; border=0&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 8pt; font-family: arial; mso-bidi-font-size: 10.0pt&quot;&gt;Not so flashy any more&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;For the next six months, occupancy will also drop cyclically, because housing demand expands in the late spring, when people tend to move house and when we graduate a new crop of collegians.&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;The [vacancy] rate is expected to climb further in the fall and winter, when rental demand is weaker, pushing vacancies to the highest levels since Reis began its count in 1980.&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;The weakness has even hit that least-American of marketplaces: &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:City w:st=&quot;on&quot;&gt;Manhattan&lt;/st1:City&gt;&lt;/st1:place&gt;.&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;st1:City w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;Manhattan&lt;/SPAN&gt;&lt;/st1:place&gt;&lt;/st1:City&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt; has all the drivers of structural rental tightness: pernicious and stubborn rent control, severe land restrictions and barriers to development, and a strong employment base.&lt;SPAN style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/SPAN&gt;Even so, &lt;st1:City w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;New York City&lt;/st1:place&gt;&lt;/st1:City&gt; landlords are confronting market forces, some for the first time.&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;In &lt;st1:State w:st=&quot;on&quot;&gt;New York&lt;/st1:State&gt;, Jennifer Hyman rented a one-bedroom apartment in July at a monthly rate of $1,950 &amp;#8212; down from $2,450 for the previous tenant &amp;#8212; when she returned to the city after graduating from &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:PlaceName w:st=&quot;on&quot;&gt;Harvard&lt;/st1:PlaceName&gt; &lt;st1:PlaceName w:st=&quot;on&quot;&gt;Business&lt;/st1:PlaceName&gt; &lt;st1:PlaceType w:st=&quot;on&quot;&gt;School&lt;/st1:PlaceType&gt;&lt;/st1:place&gt;. Her first month&amp;#8217;s rent was free &amp;#8212; and her landlord painted the apartment, scrubbed the floors and added window coverings.&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;Painting the apartment?&lt;SPAN style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/SPAN&gt;Scrubbing the floors?&lt;SPAN style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/SPAN&gt;Sprucing the window coverings?&lt;SPAN style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/SPAN&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua&quot;&gt;&lt;IMG alt=ROTFLMAO src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/rotflmao_small.jpg&quot; border=0&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;Half of America of ROTFLMAO right now, since in &lt;st1:country-region w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;America&lt;/st1:place&gt;&lt;/st1:country-region&gt; (the land of the Kleen Rest Room and the free ice tea refill), all those things are &lt;I style=&quot;mso-bidi-font-style: normal&quot;&gt;de rigueur &lt;/I&gt;for landlords upon new rentals.&lt;SPAN style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/SPAN&gt;It&amp;#8217;s called &amp;#8220;prepping a turnover vacancy.&amp;#8221;&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&amp;#8220;The experience was night-and-day different from before,&amp;#8221; said Ms. Hyman, who had rented other &lt;st1:City w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;Manhattan&lt;/st1:place&gt;&lt;/st1:City&gt; apartments between 2002 and 2007, &lt;B style=&quot;mso-bidi-font-weight: normal&quot;&gt;each time paying a brokers&amp;#8217; fee&lt;/B&gt; &amp;ndash;&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;Another sign of a formerly hyper-inflated apartment; the commodity was so scarce people paid finders&amp;#8217; fees to secure one:&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&amp;ndash; and feeling pressured to sign a lease the minute she found an apartment.&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;Third sign: haste in closing, because if you don&amp;#8217;t take it, there is someone right behind you.&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;Now, she says, &amp;#8220;Renters are the ones with the power.&amp;#8221;&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;Not all the power, but certainly more than the zero they had before.&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&amp;#8220;When job losses stop, rents will firm and occupancies will firm,&amp;#8221; said Richard Campo, chief executive of &lt;A href=&quot;http://www.camdenliving.com/&quot;&gt;Camden Property Trust&lt;/A&gt;, a Houston-based real-estate company.&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;st1:City w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua&quot;&gt;&lt;IMG alt=Camden_logo src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/camden_logo.gif&quot; border=0&gt;&lt;/SPAN&gt;&lt;/st1:place&gt;&lt;/st1:City&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;st1:City w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua&quot;&gt;&lt;/SPAN&gt;&lt;/st1:place&gt;&lt;/st1:City&gt;&lt;SPAN style=&quot;font-size: 8pt; font-family: arial; mso-bidi-font-size: 10.0pt&quot;&gt;&amp;#8220;Living inexpensive?&amp;#8221;&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;Well, yes.&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;The deteriorating rental market comes amid some signs of stabilization in the housing sales market. &lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua&quot;&gt;&lt;IMG alt=Wsj_homes_unemployment src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/wsj_homes_unemployment_small.jpg&quot; border=0&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;Normally, home ownership and rental are countercyclical, so as the demand gradually rises, we can expect apartment occupancy to tick up before home prices do.&lt;SPAN style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/SPAN&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;But then there&amp;#8217;s our Federal government putting its thumb on the rent-buy scales:&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&lt;IMG alt=Weighing_scales src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/weighing_scales_small.jpg&quot; border=0&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 8pt; font-family: arial; mso-bidi-font-size: 10.0pt&quot;&gt;Need rebalancing?&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;An $8,000 tax credit for first-time home buyers and investor demand helped to boost sales of low- and moderately priced homes this summer. &lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;But some analysts warn demand could fall with the expiration of the tax credit and supply could increase with more foreclosed homes hitting the market.&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;Both are true: housing will fall again, and supply will probably rise, particularly when one looks at the interest rate resets still before us:&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua&quot;&gt;&lt;IMG alt=Loan_reserts src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/loan_reserts_small.jpg&quot; border=0&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 8pt; font-family: arial; mso-bidi-font-size: 10.0pt&quot;&gt;We&amp;#8217;re not through the rate resets by any means&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;While a housing recovery could lead the best quality renters to move out and purchase homes, the move-out rate &lt;I style=&quot;mso-bidi-font-style: normal&quot;&gt;[into homes &amp;ndash; Ed.] &lt;/I&gt;isn&amp;#8217;t expected to surpass levels seen during the housing boom earlier this decade. &lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;In other words, we have a very long hill to climb.&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;Mortgage credit standards have tightened considerably since then, which should keep more renters in place.&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua&quot;&gt;&lt;IMG alt=Felix_tightening src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/felix_tightening_small.jpg&quot; border=0&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 8pt; font-family: arial; mso-bidi-font-size: 10.0pt&quot;&gt;Can&amp;#8217;t support that much, can I?&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;In the intermediate term, that should be good for rental.&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;Apartment owners ultimately could gain from the housing bust because the &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:country-region w:st=&quot;on&quot;&gt;U.S.&lt;/st1:country-region&gt;&lt;/st1:place&gt; home-ownership rate has fallen as foreclosures rise. But the housing bust has also flooded some of the most overbuilt housing markets with new apartment inventory as developers have converted unsold condominium developments into rentals.&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt 0.5in; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;Reis projects that the vacancy rate will peak at well above 8% in mid-2010.&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;Folks, this recession is a long way from over.&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; background: aqua; font-family: arial; mso-highlight: aqua&quot;&gt;&lt;IMG alt=Wsj_apartment_glut_expands_signs_091006 src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/wsj_apartment_glut_expands_signs_091006_small.jpg&quot; border=0&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt; mso-pagination: widow-orphan lines-together&quot;&gt;&lt;SPAN style=&quot;font-size: 8pt; font-family: arial; mso-bidi-font-size: 12.0pt; mso-bidi-font-family: 'times new roman'&quot;&gt;SIGNS advertise apartments for rent in &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:City w:st=&quot;on&quot;&gt;San Francisco&lt;/st1:City&gt;&lt;/st1:place&gt; in July. Rents declined during the third quarter, usually a strong period for rentals&lt;o:p&gt;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;br /&gt;
&lt;P class=MsoNormal style=&quot;margin: 0in 0in 0pt&quot;&gt;&lt;SPAN style=&quot;font-size: 10pt; font-family: arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/SPAN&gt;&lt;/P&gt;&lt;/p&gt;
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		<title>Too many houses: Part 2, the un-building government</title>
		<link>http://affordablehousinginstitute.org/blogs/us/2008/05/too-many-houses-part-2-the-un-building-government.html</link>
		<comments>http://affordablehousinginstitute.org/blogs/us/2008/05/too-many-houses-part-2-the-un-building-government.html#comments</comments>
		<pubDate>Tue, 13 May 2008 14:44:22 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Demand]]></category>
		<category><![CDATA[Demographics]]></category>
		<category><![CDATA[Local issues]]></category>
		<category><![CDATA[Real estate taxes]]></category>
		<category><![CDATA[Slums]]></category>

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		<description><![CDATA[


Yesterday we saw that Youngstown, Ohio, whose population now is half what it was forty years ago, has made an enormous break with its past. 

More than 1,000 structures have been demolished so far.
&#160;

It&#8217;s for the greater good
&#160;
Choosing to cull wasn&#8217;t easy.&#160; First, Youngstown tried everything else:
&#160;
For a while, Youngstown, with its population at just [...]]]></description>
			<content:encoded><![CDATA[<p class="MsoNormal" style="MARGIN: 0in 0in 0pt">
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><?xml:namespace prefix ="" o /><o:p></o:p></span></p>
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<p><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><a href="http://affordablehousinginstitute.org/blogs/us/2008/05/too-many-houses-part-1-the-un-growing-city.html">Yesterday</a> we saw that <?xml:namespace prefix ="" st1 /><st1:place w:st="on"><st1:city w:st="on">Youngstown</st1:city>, <st1:state w:st="on">Ohio</st1:state></st1:place>, whose population now is half what it was forty years ago, has made an enormous break with its past. <o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">More than 1,000 structures have been demolished so far.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Demolishing_house" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesdemolishing-house-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">It&#8217;s for the greater good<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Choosing to cull wasn&#8217;t easy.<span style="mso-spacerun: yes">&nbsp; </span>First, <st1:city w:st="on"><st1:place w:st="on">Youngstown</st1:place></st1:city> tried everything else:<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">For a while, <st1:place w:st="on"><st1:city w:st="on">Youngstown</st1:city></st1:place>, with its population at just over 80,000, hoped to return to its boomtown roots, when 165,000 residents called it home.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#8220;We long pursued a policy of growth,&#8221; said the city&#8217;s <a href="http://www.cityofyoungstownoh.org/departments/mayor/default.asp">energetic young mayor</a> [Jay Williams]. <span style="mso-spacerun: yes">&nbsp;</span>&#8220;We went after all these things that would make <st1:place w:st="on"><st1:City w:st="on">Youngstown</st1:City></st1:place> a city of 150,000 again.&#8221;<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Mayor_jay_williams" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesmayor-jay-williams-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Jay Williams, not clinging to the past<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">There were some harebrained schemes.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#8220;A blimp factory was going to put the city back on the map,&#8221; Williams said. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Blimp_aircraft" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesblimp-aircraft-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Powered by political promises?</span><span style="FONT-SIZE: 10pt; BACKGROUND: fuchsia; FONT-FAMILY: Arial; mso-highlight: fuchsia"><o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#8220;That represents a whole lot of the promises made and broken. They sound ridiculous now. President Clinton promised a defense facility employing 5,000. We were waiting for a savior.&#8221;<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><img alt="We_dont_need_another_hero" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imageswe-dont-need-another-hero-small.jpg" border="0" /></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">When I&#8217;m <i style="mso-bidi-font-style: normal">elected, </i>I&#8217;ll do all the things I&#8217;ve promised &ndash; honest!<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">For a brief period, the city also relied on nostalgia:<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Growth never came, and that makes for some strange city streetscapes today. There are few occupied homes and unkempt woodlands have taken over. There&#8217;s at least one 10-acre farm and many other large fields.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Today, a new spirit seems to have taken hold. Phil Kidd started the Web site Defend Youngstown, and said he hears from tons of former residents who would like to return.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#8220;They call and email from all over the <st1:country-region w:st="on"><st1:place w:st="on">United States</st1:place></st1:country-region> with suggestions on how to help,&#8221; he said.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">They call with suggestions &hellip; but they don&#8217;t move back, do they?<span style="mso-spacerun: yes">&nbsp; </span>Memory is romantic; economics is practical.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Now, in a radical move, the city &#8211; which has suffered since the steel industry left town and jobs dried up &#8211; is bulldozing abandoned buildings, tearing up blighted streets and converting entire blocks into open green spaces. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><span style="mso-spacerun: yes">&nbsp;</span><o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Demolish_building" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesdemolish-building-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">From derelict to green?<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Remarkably enough, occasionally we find land that is worth more vacant than with the current structure on it.<span style="mso-spacerun: yes">&nbsp; </span>The euphemism is &#8216;remediation,&#8217; and while it is normally applied to hazardous materials in the soil, it can also reflect the cost of removing an incredibly well-built but economically obsolescent and hence empty structure.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Yet it&#8217;s extraordinarily disturbing:<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#8220;I&#8217;m very nervous to have all that space,&#8221; said Elsa Higby, the founder of <a href="http://growyoungstown.org/">Grow Youngstown</a>, which promotes produce gardening and farmers markets. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">So embedded is expansion into the American psyche that even though this group&#8217;s goal is managed shrinkage, it has cleverly inverted the meaning of &#8216;grow&#8217;, <a href="http://affordablehousinginstitute.org/dvd.php">from people to crops</a>.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">How did they get the people to move?<span style="mso-spacerun: yes">&nbsp; </span><o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Which_way" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imageswhich-way-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">When a particular house needs to <a href="http://affordablehousinginstitute.org/blogs/us/2007/09/going-somewhere-to-die.html">go somewhere to die</a>, the solution, as with so many things, is to offer choice and money:<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">When only one or two occupied homes remain, the city offers incentives &#8211; up to $50,000 in grants &#8211; for those home owners to move, so that the entire area can be razed. The city will save by cutting back on services like garbage pick-ups and street lighting in deserted areas.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><img alt="Dont_block_driveway" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesdont-block-driveway-small.jpg" border="0" /></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Would $50,000 get you to move?<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">As with many hard-choice innovations, <a href="http://affordablehousinginstitute.org/blogs/us/2005/06/the_law_of_the.html">the observant political herd</a> is waiting for a maverick to take a chance.<span style="mso-spacerun: yes">&nbsp; </span><o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#8220;We&#8217;re one of the first cities of significant size in the <st1:place w:st="on"><st1:country-region w:st="on">United States</st1:country-region></st1:place> to embrace shrinkage,&#8221; said Williams.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">When the maverick is not vilified but applauded, the others mosey on over to take a look.<span style="mso-spacerun: yes">&nbsp; </span><o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">But now, <st1:place w:st="on"><st1:city w:st="on">Youngstown</st1:city></st1:place>&#8217;s infrastructure-paring strategy may yet become a model for other <a href="http://money.cnn.com/2008/04/04/real_estate/senate_housing.ap/index.htm?postversion=2008040412" target="_blank">Rust-Belt</a> cities that must recreate themselves after years of decline.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Already, delegations from smaller, post-industrial cities like <st1:city w:st="on">Flint</st1:city>, <st1:state w:st="on">Mich.</st1:state>; <st1:city w:st="on">Wheeling</st1:city>, <st1:state w:st="on">W.Va.</st1:state>; and <st1:city w:st="on">Dayton</st1:city>, <st1:state w:st="on">Ohio</st1:state>, have come to <st1:place w:st="on"><st1:city w:st="on">Youngstown</st1:city></st1:place> to study the plan.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><img alt="Wheeling_historic" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imageswheeling-historic-small.jpg" border="0" /></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><st1:city w:st="on"><st1:place w:st="on"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Wheeling</span></st1:place></st1:city><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">&#8217;s peak was in its past, too<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Like <st1:city w:st="on">Youngstown</st1:city>, all these cities are in <st1:place w:st="on"><st1:country-region w:st="on">America</st1:country-region></st1:place>&#8217;s industrial heartland, all of them suffering with legacy industrial buildings and declining population.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">They have found that in <st1:place w:st="on"><st1:city w:st="on">Youngstown</st1:city></st1:place>, <a href="http://affordablehousinginstitute.org/blogs/us/2006/12/public_housings_3.html">cutting the Gordian Knot</a> by thinking the unthinkable &ndash; an American city that not only isn&#8217;t growing, it&#8217;s managing its reduction! &ndash; is actually liberating.<span style="mso-spacerun: yes">&nbsp; </span>As the Youngstown 2010 site puts as its first principle:<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><b style="mso-bidi-font-weight: normal"><span style="FONT-SIZE: 11pt; COLOR: maroon; mso-bidi-font-size: 12.0pt"><font face="Times New Roman">Accepting that <st1:place w:st="on"><st1:city w:st="on">Youngstown</st1:city></st1:place> is a smaller city.</font></span></b><span style="FONT-SIZE: 11pt; COLOR: maroon; mso-bidi-font-size: 12.0pt"><br /><font face="Times New Roman">The dramatic collapse of the steel industry led to the loss of tens of thousands of jobs and a precipitous decline in population. Having lost more than half its population and almost its entire industrial base in the last 30 years, the city is now left with an oversized urban structure. (It has been described as a size 40 man wearing a size 60 suit.) <o:p></o:p></font></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 11pt; COLOR: maroon; mso-bidi-font-size: 12.0pt"><o:p><font face="Times New Roman">&nbsp;</font></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Talking_heads_suit_too_big" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagestalking-heads-suit-too-big-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Maybe you need to take in your boundaries<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 11pt; COLOR: maroon; mso-bidi-font-size: 12.0pt"><o:p><font face="Times New Roman">&nbsp;</font></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 11pt; COLOR: maroon; mso-bidi-font-size: 12.0pt"><font face="Times New Roman">There are too many abandoned properties and too many underutilized sites. Many difficult choices will have to be made as <st1:city w:st="on"><st1:place w:st="on">Youngstown</st1:place></st1:city> recreates itself as a sustainable mid-sized city. A strategic program is required to rationalize and consolidate the urban infrastructure in a socially responsible and financially sustainable manner.<o:p></o:p></font></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">The psychological principle is that shrinking is not failure; shrinking is adaptation.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Ideally, all this energy surrounding <a href="http://images.google.com/imgres?imgurl=http://www.youngstown2010.com/neighborhoods/print_maps/north%2520side%2520streets.gif&amp;imgrefurl=http://www.youngstown2010.com/neighborhoods/index.htm&amp;h=1228&amp;w=1600&amp;sz=282&amp;hl=en&amp;start=2&amp;um=1&amp;tbnid=eYehZ4BcA1Na7M:&amp;tbnh=115&amp;tbnw=150&amp;prev=/images%3Fq%3Dyoungstown%2Bnorth%2Bside%26um%3D1%26hl%3Den%26rlz%3D1T4GGIH_enUS256US257%26sa%3DN">Youngstown 2010</a> will help turn the city around. It does have a lot going for it, including <a href="http://www.ysu.edu/">Youngstown State University</a>, which attracts creative-class types like artists and writers and other intellectuals, as well as museums and an excellent public library.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><a href="http://en.wikipedia.org/wiki/Richard_Florida">Richard Florida&#8217;s</a> done a wonderful job of promoting the thesis that &#8216;creative types&#8217; are the fertilizing yeast that turn middle-class hops into spirited knowledge workers.<span style="mso-spacerun: yes">&nbsp; </span><a href="http://irle.ucla.edu/faculty/mvidal/peck_on_florida.pdf">Though his thesis is unproven</a>, what&#8217;s far less uncertain is the valuable role played by universities.<span style="mso-spacerun: yes">&nbsp; </span>They bring in young people (cheap, mobile, risk-taking labor), and they are platforms for innovation (reducing the cost of being wrong and increasing the chance of stumbling on something right).<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Youngstown_state_campus" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesyoungstown-state-campus-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><st1:place w:st="on"><st1:placename w:st="on"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Youngstown</span></st1:placename><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt"> <st1:placetype w:st="on">State</st1:placetype></span></st1:place><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">: more students, more ideas, more jobs<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Similarly, clearing away rubbled lots and replacing them with green space makes the remaining property more attractive as a site to build a new vision:<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">The cheap residential and commercial real estate can be a draw. Start-up companies thrive on low overhead, and employees can easily find housing just minutes from work.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="North_heights_home_3300_sf" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesnorth-heights-home-3300-sf-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">3,300 square feet for under $100,000: <st1:placename w:st="on">North</st1:placename> <st1:placetype w:st="on">Heights</st1:placetype> in <st1:city w:st="on"><st1:place w:st="on">Youngstown</st1:place></st1:city><o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">At the very least, the 2010 plan has changed residents&#8217; perspective, said Hunter Morrison. &#8220;It&#8217;s getting us to think about where we&#8217;re going into the future, rather than where we&#8217;ve been in the past.&#8221;&nbsp; <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Part of transitioning is letting go of the old self.<span style="mso-spacerun: yes">&nbsp; </span><st1:place w:st="on"><st1:city w:st="on">Youngstown</st1:city></st1:place> had an old self predicated on a municipal revenue model that will not return.. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">When a tree has dead limbs, you cut them down lest they jeopardize the trunk.<span style="mso-spacerun: yes">&nbsp; </span>By plowing under its no-longer-sustainable neighborhoods, <st1:city w:st="on"><st1:place w:st="on">Youngstown</st1:place></st1:city> is making a move to bring its civic economics back in balance, and creating a pruned city that can once again grow.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Defend_youngstown" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesdefend-youngstown-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">To save the city&#8217;s living parts, we had to destroy its dead parts<o:p></o:p></span></p>
<form id=pdf24Form_4687 method="POST" action="http://doc2pdf.pdf24.org/doc2pdf/wordpress.php" style="border: 1px solid silver; padding: 2px;" target="pdf24PopWin" onsubmit="window.open('about:blank', 'pdf24PopWin', 'scrollbars=yes,width=400,height=200,top=0,left=0'); return true;"><input type="hidden" name="blogCharset" value="UTF-8">
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<input type="hidden" name="postContent_0" value="&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;?xml:namespace prefix =&quot;&quot; o /&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2008/05/too-many-houses-part-1-the-un-growing-city.html&quot;&gt;Yesterday&lt;/a&gt; we saw that &lt;?xml:namespace prefix =&quot;&quot; st1 /&gt;&lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:city&gt;, &lt;st1:state w:st=&quot;on&quot;&gt;Ohio&lt;/st1:state&gt;&lt;/st1:place&gt;, whose population now is half what it was forty years ago, has made an enormous break with its past. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;More than 1,000 structures have been demolished so far.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Demolishing_house&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesdemolishing-house-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;It&amp;#8217;s for the greater good&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Choosing to cull wasn&amp;#8217;t easy.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;First, &lt;st1:city w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:place&gt;&lt;/st1:city&gt; tried everything else:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;For a while, &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:city&gt;&lt;/st1:place&gt;, with its population at just over 80,000, hoped to return to its boomtown roots, when 165,000 residents called it home.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&amp;#8220;We long pursued a policy of growth,&amp;#8221; said the city&amp;#8217;s &lt;a href=&quot;http://www.cityofyoungstownoh.org/departments/mayor/default.asp&quot;&gt;energetic young mayor&lt;/a&gt; [Jay Williams]. &lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp;&lt;/span&gt;&amp;#8220;We went after all these things that would make &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:City w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:City&gt;&lt;/st1:place&gt; a city of 150,000 again.&amp;#8221;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Mayor_jay_williams&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesmayor-jay-williams-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Jay Williams, not clinging to the past&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;There were some harebrained schemes.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&amp;#8220;A blimp factory was going to put the city back on the map,&amp;#8221; Williams said. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Blimp_aircraft&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesblimp-aircraft-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Powered by political promises?&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: fuchsia; FONT-FAMILY: Arial; mso-highlight: fuchsia&quot;&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&amp;#8220;That represents a whole lot of the promises made and broken. They sound ridiculous now. President Clinton promised a defense facility employing 5,000. We were waiting for a savior.&amp;#8221;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;img alt=&quot;We_dont_need_another_hero&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imageswe-dont-need-another-hero-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;When I&amp;#8217;m &lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;elected, &lt;/i&gt;I&amp;#8217;ll do all the things I&amp;#8217;ve promised &amp;ndash; honest!&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;For a brief period, the city also relied on nostalgia:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Growth never came, and that makes for some strange city streetscapes today. There are few occupied homes and unkempt woodlands have taken over. There&amp;#8217;s at least one 10-acre farm and many other large fields.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Today, a new spirit seems to have taken hold. Phil Kidd started the Web site Defend Youngstown, and said he hears from tons of former residents who would like to return.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&amp;#8220;They call and email from all over the &lt;st1:country-region w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;United States&lt;/st1:place&gt;&lt;/st1:country-region&gt; with suggestions on how to help,&amp;#8221; he said.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;They call with suggestions &amp;hellip; but they don&amp;#8217;t move back, do they?&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;Memory is romantic; economics is practical.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Now, in a radical move, the city &amp;#8211; which has suffered since the steel industry left town and jobs dried up &amp;#8211; is bulldozing abandoned buildings, tearing up blighted streets and converting entire blocks into open green spaces. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp;&lt;/span&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Demolish_building&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesdemolish-building-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;From derelict to green?&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Remarkably enough, occasionally we find land that is worth more vacant than with the current structure on it.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;The euphemism is &amp;#8216;remediation,&amp;#8217; and while it is normally applied to hazardous materials in the soil, it can also reflect the cost of removing an incredibly well-built but economically obsolescent and hence empty structure.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Yet it&amp;#8217;s extraordinarily disturbing:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&amp;#8220;I&amp;#8217;m very nervous to have all that space,&amp;#8221; said Elsa Higby, the founder of &lt;a href=&quot;http://growyoungstown.org/&quot;&gt;Grow Youngstown&lt;/a&gt;, which promotes produce gardening and farmers markets. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;So embedded is expansion into the American psyche that even though this group&amp;#8217;s goal is managed shrinkage, it has cleverly inverted the meaning of &amp;#8216;grow&amp;#8217;, &lt;a href=&quot;http://affordablehousinginstitute.org/dvd.php&quot;&gt;from people to crops&lt;/a&gt;.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;How did they get the people to move?&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Which_way&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imageswhich-way-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;When a particular house needs to &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2007/09/going-somewhere-to-die.html&quot;&gt;go somewhere to die&lt;/a&gt;, the solution, as with so many things, is to offer choice and money:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;When only one or two occupied homes remain, the city offers incentives &amp;#8211; up to $50,000 in grants &amp;#8211; for those home owners to move, so that the entire area can be razed. The city will save by cutting back on services like garbage pick-ups and street lighting in deserted areas.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;img alt=&quot;Dont_block_driveway&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesdont-block-driveway-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Would $50,000 get you to move?&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;As with many hard-choice innovations, &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2005/06/the_law_of_the.html&quot;&gt;the observant political herd&lt;/a&gt; is waiting for a maverick to take a chance.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&amp;#8220;We&amp;#8217;re one of the first cities of significant size in the &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:country-region w:st=&quot;on&quot;&gt;United States&lt;/st1:country-region&gt;&lt;/st1:place&gt; to embrace shrinkage,&amp;#8221; said Williams.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;When the maverick is not vilified but applauded, the others mosey on over to take a look.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;But now, &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:city&gt;&lt;/st1:place&gt;&amp;#8217;s infrastructure-paring strategy may yet become a model for other &lt;a href=&quot;http://money.cnn.com/2008/04/04/real_estate/senate_housing.ap/index.htm?postversion=2008040412&quot; target=&quot;_blank&quot;&gt;Rust-Belt&lt;/a&gt; cities that must recreate themselves after years of decline.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Already, delegations from smaller, post-industrial cities like &lt;st1:city w:st=&quot;on&quot;&gt;Flint&lt;/st1:city&gt;, &lt;st1:state w:st=&quot;on&quot;&gt;Mich.&lt;/st1:state&gt;; &lt;st1:city w:st=&quot;on&quot;&gt;Wheeling&lt;/st1:city&gt;, &lt;st1:state w:st=&quot;on&quot;&gt;W.Va.&lt;/st1:state&gt;; and &lt;st1:city w:st=&quot;on&quot;&gt;Dayton&lt;/st1:city&gt;, &lt;st1:state w:st=&quot;on&quot;&gt;Ohio&lt;/st1:state&gt;, have come to &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:city&gt;&lt;/st1:place&gt; to study the plan.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;img alt=&quot;Wheeling_historic&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imageswheeling-historic-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Wheeling&lt;/span&gt;&lt;/st1:place&gt;&lt;/st1:city&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;&amp;#8217;s peak was in its past, too&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Like &lt;st1:city w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:city&gt;, all these cities are in &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:country-region w:st=&quot;on&quot;&gt;America&lt;/st1:country-region&gt;&lt;/st1:place&gt;&amp;#8217;s industrial heartland, all of them suffering with legacy industrial buildings and declining population.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;They have found that in &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:city&gt;&lt;/st1:place&gt;, &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2006/12/public_housings_3.html&quot;&gt;cutting the Gordian Knot&lt;/a&gt; by thinking the unthinkable &amp;ndash; an American city that not only isn&amp;#8217;t growing, it&amp;#8217;s managing its reduction! &amp;ndash; is actually liberating.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;As the Youngstown 2010 site puts as its first principle:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;b style=&quot;mso-bidi-font-weight: normal&quot;&gt;&lt;span style=&quot;FONT-SIZE: 11pt; COLOR: maroon; mso-bidi-font-size: 12.0pt&quot;&gt;&lt;font face=&quot;Times New Roman&quot;&gt;Accepting that &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:city&gt;&lt;/st1:place&gt; is a smaller city.&lt;/font&gt;&lt;/span&gt;&lt;/b&gt;&lt;span style=&quot;FONT-SIZE: 11pt; COLOR: maroon; mso-bidi-font-size: 12.0pt&quot;&gt;&lt;br /&gt;&lt;font face=&quot;Times New Roman&quot;&gt;The dramatic collapse of the steel industry led to the loss of tens of thousands of jobs and a precipitous decline in population. Having lost more than half its population and almost its entire industrial base in the last 30 years, the city is now left with an oversized urban structure. (It has been described as a size 40 man wearing a size 60 suit.) &lt;o:p&gt;&lt;/o:p&gt;&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 11pt; COLOR: maroon; mso-bidi-font-size: 12.0pt&quot;&gt;&lt;o:p&gt;&lt;font face=&quot;Times New Roman&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Talking_heads_suit_too_big&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagestalking-heads-suit-too-big-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Maybe you need to take in your boundaries&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 11pt; COLOR: maroon; mso-bidi-font-size: 12.0pt&quot;&gt;&lt;o:p&gt;&lt;font face=&quot;Times New Roman&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 11pt; COLOR: maroon; mso-bidi-font-size: 12.0pt&quot;&gt;&lt;font face=&quot;Times New Roman&quot;&gt;There are too many abandoned properties and too many underutilized sites. Many difficult choices will have to be made as &lt;st1:city w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:place&gt;&lt;/st1:city&gt; recreates itself as a sustainable mid-sized city. A strategic program is required to rationalize and consolidate the urban infrastructure in a socially responsible and financially sustainable manner.&lt;o:p&gt;&lt;/o:p&gt;&lt;/font&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;The psychological principle is that shrinking is not failure; shrinking is adaptation.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Ideally, all this energy surrounding &lt;a href=&quot;http://images.google.com/imgres?imgurl=http://www.youngstown2010.com/neighborhoods/print_maps/north%2520side%2520streets.gif&amp;amp;imgrefurl=http://www.youngstown2010.com/neighborhoods/index.htm&amp;amp;h=1228&amp;amp;w=1600&amp;amp;sz=282&amp;amp;hl=en&amp;amp;start=2&amp;amp;um=1&amp;amp;tbnid=eYehZ4BcA1Na7M:&amp;amp;tbnh=115&amp;amp;tbnw=150&amp;amp;prev=/images%3Fq%3Dyoungstown%2Bnorth%2Bside%26um%3D1%26hl%3Den%26rlz%3D1T4GGIH_enUS256US257%26sa%3DN&quot;&gt;Youngstown 2010&lt;/a&gt; will help turn the city around. It does have a lot going for it, including &lt;a href=&quot;http://www.ysu.edu/&quot;&gt;Youngstown State University&lt;/a&gt;, which attracts creative-class types like artists and writers and other intellectuals, as well as museums and an excellent public library.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;a href=&quot;http://en.wikipedia.org/wiki/Richard_Florida&quot;&gt;Richard Florida&amp;#8217;s&lt;/a&gt; done a wonderful job of promoting the thesis that &amp;#8216;creative types&amp;#8217; are the fertilizing yeast that turn middle-class hops into spirited knowledge workers.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;a href=&quot;http://irle.ucla.edu/faculty/mvidal/peck_on_florida.pdf&quot;&gt;Though his thesis is unproven&lt;/a&gt;, what&amp;#8217;s far less uncertain is the valuable role played by universities.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;They bring in young people (cheap, mobile, risk-taking labor), and they are platforms for innovation (reducing the cost of being wrong and increasing the chance of stumbling on something right).&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Youngstown_state_campus&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesyoungstown-state-campus-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:placename w:st=&quot;on&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Youngstown&lt;/span&gt;&lt;/st1:placename&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt; &lt;st1:placetype w:st=&quot;on&quot;&gt;State&lt;/st1:placetype&gt;&lt;/span&gt;&lt;/st1:place&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;: more students, more ideas, more jobs&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Similarly, clearing away rubbled lots and replacing them with green space makes the remaining property more attractive as a site to build a new vision:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;The cheap residential and commercial real estate can be a draw. Start-up companies thrive on low overhead, and employees can easily find housing just minutes from work.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;North_heights_home_3300_sf&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesnorth-heights-home-3300-sf-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;3,300 square feet for under $100,000: &lt;st1:placename w:st=&quot;on&quot;&gt;North&lt;/st1:placename&gt; &lt;st1:placetype w:st=&quot;on&quot;&gt;Heights&lt;/st1:placetype&gt; in &lt;st1:city w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:place&gt;&lt;/st1:city&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;At the very least, the 2010 plan has changed residents&amp;#8217; perspective, said Hunter Morrison. &amp;#8220;It&amp;#8217;s getting us to think about where we&amp;#8217;re going into the future, rather than where we&amp;#8217;ve been in the past.&amp;#8221;&amp;nbsp; &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Part of transitioning is letting go of the old self.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:city&gt;&lt;/st1:place&gt; had an old self predicated on a municipal revenue model that will not return.. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;When a tree has dead limbs, you cut them down lest they jeopardize the trunk.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;By plowing under its no-longer-sustainable neighborhoods, &lt;st1:city w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:place&gt;&lt;/st1:city&gt; is making a move to bring its civic economics back in balance, and creating a pruned city that can once again grow.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Defend_youngstown&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesdefend-youngstown-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;To save the city&amp;#8217;s living parts, we had to destroy its dead parts&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
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		<title>Too many houses: Part 1, the un-growing city</title>
		<link>http://affordablehousinginstitute.org/blogs/us/2008/05/too-many-houses-part-1-the-un-growing-city.html</link>
		<comments>http://affordablehousinginstitute.org/blogs/us/2008/05/too-many-houses-part-1-the-un-growing-city.html#comments</comments>
		<pubDate>Mon, 12 May 2008 12:37:12 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Demand]]></category>
		<category><![CDATA[Demographics]]></category>
		<category><![CDATA[Local issues]]></category>
		<category><![CDATA[Real estate taxes]]></category>
		<category><![CDATA[Slums]]></category>

		<guid isPermaLink="false">http://affordablehousinginstitute.org/blogs/us/2008/05/too-many-houses-part-1-the-un-growing-city.html</guid>
		<description><![CDATA[
&#160;
A town is a business that sells quality of life and competes with other towns to attract real estate tax payers. &#160;It spends its revenue on infrastructure that enhances quality of life and enables it to attract more workers and real estate tax payers.&#160; Some towns are so attractive, relative to their rural competition, that [...]]]></description>
			<content:encoded><![CDATA[<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><?xml:namespace prefix ="" o /><o:p><img alt="Moving_relocation" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesmoving-relocation-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">A town is a business that sells quality of life and competes with other towns to attract real estate tax payers. <span style="mso-spacerun: yes">&nbsp;</span>It spends <a href="http://affordablehousinginstitute.org/blogs/us/2006/01/real_estate_tax_2.html">its revenue</a> <a href="http://affordablehousinginstitute.org/blogs/us/2007/10/there-aint-no-such-thing-as-free-infrastructure-part-1-why.html">on infrastructure</a> that enhances quality of life and enables it to <a href="http://affordablehousinginstitute.org/blogs/us/2006/04/workforce_housi_2.html">attract more workers</a> and real estate tax payers.<span style="mso-spacerun: yes">&nbsp; </span>Some towns are so attractive, relative to their rural competition, that they attract <a href="http://affordablehousinginstitute.org/blogs/us/2008/01/profile-of-a-slum-dharavi-part-1.html">millions of newcomers without even trying</a>, and these towns become megacities by growing vast <a href="http://affordablehousinginstitute.org/blogs/us/2005/05/slums_are_econo.html">economically rational</a> but unplanned <a href="http://affordablehousinginstitute.org/blogs/us/2005/10/spontaneous_com.html">spontaneous communities</a> called slums, where the <a href="http://affordablehousinginstitute.org/blogs/us/2008/03/slums-a-municipal-definition.html">housing demand has overrun the infrastructure capacity</a> &ndash; and <a href="http://affordablehousinginstitute.org/blogs/us/2007/07/dharavi_the_fix.html">the problem of fixing slums&#8217; overrun capacity</a> is, I believe, the greatest demographic challenge of the 21st century, <a href="http://affordablehousinginstitute.org/blogs/us/2008/02/the-century-of-cities.html">the century of cities</a>.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Because towns compete, some lose.<span style="mso-spacerun: yes">&nbsp; </span>This is less of a problem when a region or nation&#8217;s population is rising, because even losing market share (like <a href="http://affordablehousinginstitute.org/blogs/us/2005/09/new_new_orleans_2.html">Galveston did after the 1900 hurricane</a> and <a href="http://affordablehousinginstitute.org/blogs/us/2007/03/the_battle_of_n_2.html">Old New Orleans had been doing even before hurricane Katrina</a>) can be absorbed in people terms through population growth.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Floating_wreckage_galveston_hurricane,_1900" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesfloating-wreckage-galveston-hurricane-2c-1900-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">A setback for the employment base?<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">When it cannot &ndash; when the town&#8217;s population falls and falls, despite all efforts &ndash; the town is economically ill.<span style="mso-spacerun: yes">&nbsp; </span>That in turn makes it unattractive to its residents, and it keeps losing them.<span style="mso-spacerun: yes">&nbsp; </span>Then its over-extended infrastructure becomes a millstone (pun) around its neck, dragging down the&nbsp;municipal budget and diluting its ability to serve any of its citizens well.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Millstone" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesmillstone-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Some infrastructure is no longer functional<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Such is the fate of <?xml:namespace prefix ="" st1 /><st1:place w:st="on"><st1:city w:st="on">Youngstown</st1:city>, <st1:state w:st="on">Ohio</st1:state></st1:place>, a town with too many houses, as revealed in this story from </span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; mso-bidi-font-size: 8.0pt"><a href="http://money.cnn.com/2008/04/08/real_estate/radical_city_plan/index.htm?cnn=yes">CNN Money</a></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">:<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Cnnmoney_the_incredible_shrinking_city_holdout_080414" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagescnnmoney-the-incredible-shrinking-city-holdout-080414-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial">The last holdout: Two minutes from <st1:city w:st="on"><st1:place w:st="on">Youngstown</st1:place></st1:city>&#8217;s downtown sit empty lots and abandoned houses where families of mill workers once thrived.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><st1:place w:st="on"><st1:city w:st="on"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Youngstown</span></st1:city><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">, <st1:state w:st="on">Ohio</st1:state></span></st1:place><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">, has long been on the decline and now is being hit by the foreclosure crisis. Its answer: Razing abandoned buildings and tearing up streets.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><st1:city w:st="on"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">YOUNGSTOWN</span></st1:city><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">, <st1:state w:st="on">Ohio</st1:state> (CNNMoney.com) &#8212; <st1:place w:st="on"><st1:city w:st="on">Youngstown</st1:city>, <st1:state w:st="on">Ohio</st1:state></st1:place>, has seen its population shrink by more than half over the past 40 years, leaving behind huge swaths of empty homes, streets and neighborhoods.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Like many cities in America&#8217;s Midwest &ndash; and Britain&#8217;s Midlands &ndash; Youngstown boomed on manufacturing, its proximity to the Great Lakes and Saint Lawrence Seaway representing an enormous competitive advantage:<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#8220;When I grew up in the 1950s, the city was at its peak,&#8221; said Father Ed Noga, who heads St. Patrick&#8217;s on <st1:place w:st="on"><st1:city w:st="on">Youngstown</st1:city></st1:place>&#8217;s South Side. &#8220;There were kids everywhere and everyone converged on downtown. You went to eat, to shop and to go to the movies.&#8221;<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Fast-forward fifty years, as jobs migrate. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Today, downtown is positively sleepy and even somewhat derelict. <span style="mso-spacerun: yes">&nbsp;</span>Residents have to drive out of town to shop for clothes or housewares. <o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">In cities that have made the shift from manufacturing to information, downtown exists to create a higher concentration of people within a few minutes&#8217; walk (sideways or up-and-down) of face-to-face contact.<span style="mso-spacerun: yes">&nbsp; </span>For information-oriented downtowns to flourish, they need people there twenty-four hours a day: which means both working (daylight), living (night-time), and socializing (evening).<span style="mso-spacerun: yes">&nbsp; </span><o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><st1:street w:st="on"><st1:address w:st="on"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span></st1:address></st1:street><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Youngstown_federal_street" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesyoungstown-federal-street-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">When <st1:city w:st="on"><st1:place w:st="on">Youngstown</st1:place></st1:city> was hopping: the 1930&#8217;s<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">For that, in the modern world you need verticality &ndash; buildings that go up.<span style="mso-spacerun: yes">&nbsp; </span><o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Density, in other words, isn&#8217;t an urban problem, it&#8217;s an urban solution.<span style="mso-spacerun: yes">&nbsp; </span><o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Youngstown_at_night" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesyoungstown-at-night-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><st1:city w:st="on"><st1:place w:st="on"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Youngstown</span></st1:place></st1:city><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt"> at night &ndash; that was then<o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><i style="mso-bidi-font-style: normal"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Lack</span></i><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"> of density is the problem.<o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">When you have homes isolated amidst rubble-strewn lots, service costs greatly outweigh tax benefits.<span style="mso-spacerun: yes">&nbsp; </span>In fact, the costs rise &ndash; as New New Orleans is finding out &ndash; because your best defenders are the home&#8217;s owners.<span style="mso-spacerun: yes">&nbsp; </span>Vacant houses must be defended by patrols, and you cannot patrol every street all the time.<o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Although dwindling demand hits the most marginal neighborhoods first (subprime risk!), no neighborhood is immune:<o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Even wealthy neighborhoods, like the North Side historic district, where mill owners and upper management once congregated, have eyesores.<o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Youngstown_north_side_home" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesyoungstown-north-side-home-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">On one corner, there sits a beautifully maintained seven-bedroom Tudor, yet down a side street, a wood-framed colonial is boarded up. Next door, an empty Victorian sits moldering, the wood of its window frames scorched. Lines of old hedges mark lot boundaries where once-proud homes stood.<o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">In addition to reducing demand for infrastructure (saving the city money), returning land to greenery also creates a more pleasant environment, especially for kids.<span style="mso-spacerun: yes">&nbsp; </span><o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Cnnmoney_the_incredible_shrinking_city_recycling_080414" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagescnnmoney-the-incredible-shrinking-city-recycling-080414-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial">Recycling <st1:place w:st="on"><st1:city w:st="on">Youngstown</st1:city></st1:place>: Empty houses, once <a href="http://affordablehousinginstitute.org/blogs/us/2007/03/clandestine_occ.html">magnets for drugs and prostitution</a>, have been reclaimed as playgrounds.<o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">As I discussed in the two posts regarding the&nbsp;Ultimate Future City &ndash; <a href="http://affordablehousinginstitute.org/blogs/us/2007/11/the-ultimate-future-city-part-1-the-caves.html">the Caves of Steel</a> and <a href="http://affordablehousinginstitute.org/blogs/us/2007/11/the-ultimate-future-city-part-2-the-estates.html">the Naked Sun</a> &ndash; we all want <i style="mso-bidi-font-style: normal">more </i>elbow room, yet our cities succeed when we have a little less.<span style="mso-spacerun: yes">&nbsp; </span>Call that the density paradox.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">When the jobs go, the people follow.<span style="mso-spacerun: yes">&nbsp; </span>When the people are gone, the houses must go.<span style="mso-spacerun: yes">&nbsp;</span><span style="mso-spacerun: yes">&nbsp;</span>Yet houses are built to endure.<span style="mso-spacerun: yes">&nbsp; </span>They stay behind, and wither.<o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#8220;Abandoned houses here are like rainfall in the spring,&#8221; said Mayor Jay Williams, &#8220;That has gone on for decades.&#8221;<o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">In declining-population cities, recessions bring foreclosures like autumn chills bring falling leaves.<span style="mso-spacerun: yes">&nbsp; </span><o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">And while foreclosures have long been a scourge in this city, they have recently skyrocketed along with the rest of the country, up 178% in February from a year ago.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">The foreclosures, though, are merely the visible manifestation.<span style="mso-spacerun: yes">&nbsp; </span>The cause was job flight:<o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><st1:city w:st="on"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Youngstown</span></st1:city><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"> used to be the nation&#8217;s third-largest steel producer; its mill workers earned among the highest factory wages in <st1:country-region w:st="on"><st1:place w:st="on">America</st1:place></st1:country-region>. Demand for their services was strong.<o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Youngstown_sheet_and_tube" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesyoungstown-sheet-and-tube-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Coaling station, Youngstown Sheet and Tube<o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#8220;You could graduate from high school one day and start work in the mills the next,&#8221; said Noga.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Gropper_strike_youngstown_sheet_and_tube" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesgropper-strike-youngstown-sheet-and-tube-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">William Gropper, <i style="mso-bidi-font-style: normal">Strike and <st1:city w:st="on"><st1:place w:st="on">Youngstown</st1:place></st1:city> Sheet and Tube, 1916<o:p></o:p></i></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">That changed on Sept. 19, 1977 &#8211; Black Monday &#8211; when Youngstown Sheet and Tube abruptly closed its doors.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#8220;Five thousand people showed up for work one day and were turned away,&#8221; said Phil Kidd, Downtown Director of Events and Special Projects for the city.<o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#8220;The city lost its heart and soul,&#8221; said Mayor Williams.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Within years, all the mills vanished. Noga recalls seeing idled workers watching as one of the oldest blast furnaces in the valley was dynamited. &#8220;I saw these hard men, shot-and-a-beer guys, standing there crying,&#8221; he said.<o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Blast_furnace" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesblast-furnace-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Grown men cried when the blast furnace was dynamited<o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">The advantages to tearing down empty houses are numerous.<span style="mso-spacerun: yes">&nbsp; </span><o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Youngstown_textile_mill" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesyoungstown-textile-mill-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Tearing down the <st1:place w:st="on"><st1:city w:st="on">Youngstown</st1:city></st1:place> textile mill<o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Empty houses attract <a href="http://affordablehousinginstitute.org/blogs/us/2007/03/clandestine_occ.html">clandestine occupancy</a>, and can become <a href="http://affordablehousinginstitute.org/blogs/us/2007/03/haitis_slums_th.html">houses of crime</a>.<span style="mso-spacerun: yes">&nbsp; </span>The results are all too visible:<o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Some dead-end streets are already uninhabited and torn up, their outlets blocked with concrete barriers. Many roads are pitted and potholed; drivers have to slalom slowly through or face axle-busting jolts. Lonely water hydrants look woefully out of place sitting on the sides of rural-looking roads.<o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Since houses don&#8217;t unbuild themselves, they must be unbuilt.<span style="mso-spacerun: yes">&nbsp; </span><o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Abandoned_house_brush_park" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesabandoned-house-brush-park-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">It&#8217;s better if you disappear<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">But <a href="http://affordablehousinginstitute.org/blogs/us/2005/09/political_calcu.html">finding the political commitment</a> to reach that conclusion wasn&#8217;t easy &ndash;<o:p></o:p></span></p>
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<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">It&#8217;s an odd way to pioneer. &#8220;The American narrative always includes growth,&#8221; said Hunter Morrison, Director of the Center for Urban and Regional Studies at <st1:place w:st="on"><st1:placename w:st="on">Youngstown</st1:placename> <st1:placetype w:st="on">State</st1:placetype> <st1:placetype w:st="on">University</st1:placetype></st1:place>, which works closely with the city on plan 2010&#8217;s implementation. &#8220;No one wants to talk about shrinkage. That&#8217;s too threatening to politicians, civic boosters and Chambers of Commerce.&#8221;<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-outline-level: 1"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Britney_cry" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesbritney-cry-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">&#8220;That&#8217;s a hard choice to make&#8221;<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt"><o:p><font size="3">&nbsp;</font></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><i style="mso-bidi-font-style: normal"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">[Continued tomorrow in <a href="http://affordablehousinginstitute.org/blogs/us/2008/05/too-many-houses-part-2-the-un-building-government.html">Part 2</a></span></i><i style="mso-bidi-font-style: normal"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">.]<o:p></o:p></span></i></p>
<p><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA"><br style="PAGE-BREAK-BEFORE: always; mso-special-character: line-break" clear="all"></span></p>
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<input type="hidden" name="postContent_0" value="&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;?xml:namespace prefix =&quot;&quot; o /&gt;&lt;o:p&gt;&lt;img alt=&quot;Moving_relocation&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesmoving-relocation-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;A town is a business that sells quality of life and competes with other towns to attract real estate tax payers. &lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp;&lt;/span&gt;It spends &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2006/01/real_estate_tax_2.html&quot;&gt;its revenue&lt;/a&gt; &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2007/10/there-aint-no-such-thing-as-free-infrastructure-part-1-why.html&quot;&gt;on infrastructure&lt;/a&gt; that enhances quality of life and enables it to &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2006/04/workforce_housi_2.html&quot;&gt;attract more workers&lt;/a&gt; and real estate tax payers.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;Some towns are so attractive, relative to their rural competition, that they attract &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2008/01/profile-of-a-slum-dharavi-part-1.html&quot;&gt;millions of newcomers without even trying&lt;/a&gt;, and these towns become megacities by growing vast &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2005/05/slums_are_econo.html&quot;&gt;economically rational&lt;/a&gt; but unplanned &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2005/10/spontaneous_com.html&quot;&gt;spontaneous communities&lt;/a&gt; called slums, where the &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2008/03/slums-a-municipal-definition.html&quot;&gt;housing demand has overrun the infrastructure capacity&lt;/a&gt; &amp;ndash; and &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2007/07/dharavi_the_fix.html&quot;&gt;the problem of fixing slums&amp;#8217; overrun capacity&lt;/a&gt; is, I believe, the greatest demographic challenge of the 21st century, &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2008/02/the-century-of-cities.html&quot;&gt;the century of cities&lt;/a&gt;.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Because towns compete, some lose.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;This is less of a problem when a region or nation&amp;#8217;s population is rising, because even losing market share (like &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2005/09/new_new_orleans_2.html&quot;&gt;Galveston did after the 1900 hurricane&lt;/a&gt; and &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2007/03/the_battle_of_n_2.html&quot;&gt;Old New Orleans had been doing even before hurricane Katrina&lt;/a&gt;) can be absorbed in people terms through population growth.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Floating_wreckage_galveston_hurricane,_1900&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesfloating-wreckage-galveston-hurricane-2c-1900-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;A setback for the employment base?&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;When it cannot &amp;ndash; when the town&amp;#8217;s population falls and falls, despite all efforts &amp;ndash; the town is economically ill.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;That in turn makes it unattractive to its residents, and it keeps losing them.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;Then its over-extended infrastructure becomes a millstone (pun) around its neck, dragging down the&amp;nbsp;municipal budget and diluting its ability to serve any of its citizens well.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Millstone&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesmillstone-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Some infrastructure is no longer functional&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Such is the fate of &lt;?xml:namespace prefix =&quot;&quot; st1 /&gt;&lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:city&gt;, &lt;st1:state w:st=&quot;on&quot;&gt;Ohio&lt;/st1:state&gt;&lt;/st1:place&gt;, a town with too many houses, as revealed in this story from &lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial; mso-bidi-font-size: 8.0pt&quot;&gt;&lt;a href=&quot;http://money.cnn.com/2008/04/08/real_estate/radical_city_plan/index.htm?cnn=yes&quot;&gt;CNN Money&lt;/a&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Cnnmoney_the_incredible_shrinking_city_holdout_080414&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagescnnmoney-the-incredible-shrinking-city-holdout-080414-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial&quot;&gt;The last holdout: Two minutes from &lt;st1:city w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:place&gt;&lt;/st1:city&gt;&amp;#8217;s downtown sit empty lots and abandoned houses where families of mill workers once thrived.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Youngstown&lt;/span&gt;&lt;/st1:city&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;, &lt;st1:state w:st=&quot;on&quot;&gt;Ohio&lt;/st1:state&gt;&lt;/span&gt;&lt;/st1:place&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;, has long been on the decline and now is being hit by the foreclosure crisis. Its answer: Razing abandoned buildings and tearing up streets.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;YOUNGSTOWN&lt;/span&gt;&lt;/st1:city&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;, &lt;st1:state w:st=&quot;on&quot;&gt;Ohio&lt;/st1:state&gt; (CNNMoney.com) &amp;#8212; &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:city&gt;, &lt;st1:state w:st=&quot;on&quot;&gt;Ohio&lt;/st1:state&gt;&lt;/st1:place&gt;, has seen its population shrink by more than half over the past 40 years, leaving behind huge swaths of empty homes, streets and neighborhoods.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Like many cities in America&amp;#8217;s Midwest &amp;ndash; and Britain&amp;#8217;s Midlands &amp;ndash; Youngstown boomed on manufacturing, its proximity to the Great Lakes and Saint Lawrence Seaway representing an enormous competitive advantage:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&amp;#8220;When I grew up in the 1950s, the city was at its peak,&amp;#8221; said Father Ed Noga, who heads St. Patrick&amp;#8217;s on &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:city&gt;&lt;/st1:place&gt;&amp;#8217;s South Side. &amp;#8220;There were kids everywhere and everyone converged on downtown. You went to eat, to shop and to go to the movies.&amp;#8221;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Fast-forward fifty years, as jobs migrate. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Today, downtown is positively sleepy and even somewhat derelict. &lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp;&lt;/span&gt;Residents have to drive out of town to shop for clothes or housewares. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;In cities that have made the shift from manufacturing to information, downtown exists to create a higher concentration of people within a few minutes&amp;#8217; walk (sideways or up-and-down) of face-to-face contact.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;For information-oriented downtowns to flourish, they need people there twenty-four hours a day: which means both working (daylight), living (night-time), and socializing (evening).&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;st1:street w:st=&quot;on&quot;&gt;&lt;st1:address w:st=&quot;on&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;/st1:address&gt;&lt;/st1:street&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Youngstown_federal_street&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesyoungstown-federal-street-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;When &lt;st1:city w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:place&gt;&lt;/st1:city&gt; was hopping: the 1930&amp;#8217;s&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;For that, in the modern world you need verticality &amp;ndash; buildings that go up.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Density, in other words, isn&amp;#8217;t an urban problem, it&amp;#8217;s an urban solution.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Youngstown_at_night&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesyoungstown-at-night-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Youngstown&lt;/span&gt;&lt;/st1:place&gt;&lt;/st1:city&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt; at night &amp;ndash; that was then&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Lack&lt;/span&gt;&lt;/i&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt; of density is the problem.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;When you have homes isolated amidst rubble-strewn lots, service costs greatly outweigh tax benefits.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;In fact, the costs rise &amp;ndash; as New New Orleans is finding out &amp;ndash; because your best defenders are the home&amp;#8217;s owners.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;Vacant houses must be defended by patrols, and you cannot patrol every street all the time.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Although dwindling demand hits the most marginal neighborhoods first (subprime risk!), no neighborhood is immune:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Even wealthy neighborhoods, like the North Side historic district, where mill owners and upper management once congregated, have eyesores.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Youngstown_north_side_home&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesyoungstown-north-side-home-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;On one corner, there sits a beautifully maintained seven-bedroom Tudor, yet down a side street, a wood-framed colonial is boarded up. Next door, an empty Victorian sits moldering, the wood of its window frames scorched. Lines of old hedges mark lot boundaries where once-proud homes stood.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;In addition to reducing demand for infrastructure (saving the city money), returning land to greenery also creates a more pleasant environment, especially for kids.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Cnnmoney_the_incredible_shrinking_city_recycling_080414&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagescnnmoney-the-incredible-shrinking-city-recycling-080414-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial&quot;&gt;Recycling &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:city&gt;&lt;/st1:place&gt;: Empty houses, once &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2007/03/clandestine_occ.html&quot;&gt;magnets for drugs and prostitution&lt;/a&gt;, have been reclaimed as playgrounds.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;As I discussed in the two posts regarding the&amp;nbsp;Ultimate Future City &amp;ndash; &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2007/11/the-ultimate-future-city-part-1-the-caves.html&quot;&gt;the Caves of Steel&lt;/a&gt; and &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2007/11/the-ultimate-future-city-part-2-the-estates.html&quot;&gt;the Naked Sun&lt;/a&gt; &amp;ndash; we all want &lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;more &lt;/i&gt;elbow room, yet our cities succeed when we have a little less.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;Call that the density paradox.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;When the jobs go, the people follow.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;When the people are gone, the houses must go.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp;&lt;/span&gt;&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp;&lt;/span&gt;Yet houses are built to endure.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;They stay behind, and wither.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&amp;#8220;Abandoned houses here are like rainfall in the spring,&amp;#8221; said Mayor Jay Williams, &amp;#8220;That has gone on for decades.&amp;#8221;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;In declining-population cities, recessions bring foreclosures like autumn chills bring falling leaves.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;And while foreclosures have long been a scourge in this city, they have recently skyrocketed along with the rest of the country, up 178% in February from a year ago.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;The foreclosures, though, are merely the visible manifestation.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;The cause was job flight:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Youngstown&lt;/span&gt;&lt;/st1:city&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt; used to be the nation&amp;#8217;s third-largest steel producer; its mill workers earned among the highest factory wages in &lt;st1:country-region w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;America&lt;/st1:place&gt;&lt;/st1:country-region&gt;. Demand for their services was strong.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Youngstown_sheet_and_tube&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesyoungstown-sheet-and-tube-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Coaling station, Youngstown Sheet and Tube&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&amp;#8220;You could graduate from high school one day and start work in the mills the next,&amp;#8221; said Noga.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Gropper_strike_youngstown_sheet_and_tube&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesgropper-strike-youngstown-sheet-and-tube-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;William Gropper, &lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;Strike and &lt;st1:city w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:place&gt;&lt;/st1:city&gt; Sheet and Tube, 1916&lt;o:p&gt;&lt;/o:p&gt;&lt;/i&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;That changed on Sept. 19, 1977 &amp;#8211; Black Monday &amp;#8211; when Youngstown Sheet and Tube abruptly closed its doors.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&amp;#8220;Five thousand people showed up for work one day and were turned away,&amp;#8221; said Phil Kidd, Downtown Director of Events and Special Projects for the city.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&amp;#8220;The city lost its heart and soul,&amp;#8221; said Mayor Williams.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Within years, all the mills vanished. Noga recalls seeing idled workers watching as one of the oldest blast furnaces in the valley was dynamited. &amp;#8220;I saw these hard men, shot-and-a-beer guys, standing there crying,&amp;#8221; he said.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Blast_furnace&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesblast-furnace-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Grown men cried when the blast furnace was dynamited&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;The advantages to tearing down empty houses are numerous.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Youngstown_textile_mill&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesyoungstown-textile-mill-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Tearing down the &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:city&gt;&lt;/st1:place&gt; textile mill&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Empty houses attract &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2007/03/clandestine_occ.html&quot;&gt;clandestine occupancy&lt;/a&gt;, and can become &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2007/03/haitis_slums_th.html&quot;&gt;houses of crime&lt;/a&gt;.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;The results are all too visible:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Some dead-end streets are already uninhabited and torn up, their outlets blocked with concrete barriers. Many roads are pitted and potholed; drivers have to slalom slowly through or face axle-busting jolts. Lonely water hydrants look woefully out of place sitting on the sides of rural-looking roads.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Since houses don&amp;#8217;t unbuild themselves, they must be unbuilt.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Abandoned_house_brush_park&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesabandoned-house-brush-park-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;It&amp;#8217;s better if you disappear&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;But &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2005/09/political_calcu.html&quot;&gt;finding the political commitment&lt;/a&gt; to reach that conclusion wasn&amp;#8217;t easy &amp;ndash;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;It&amp;#8217;s an odd way to pioneer. &amp;#8220;The American narrative always includes growth,&amp;#8221; said Hunter Morrison, Director of the Center for Urban and Regional Studies at &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:placename w:st=&quot;on&quot;&gt;Youngstown&lt;/st1:placename&gt; &lt;st1:placetype w:st=&quot;on&quot;&gt;State&lt;/st1:placetype&gt; &lt;st1:placetype w:st=&quot;on&quot;&gt;University&lt;/st1:placetype&gt;&lt;/st1:place&gt;, which works closely with the city on plan 2010&amp;#8217;s implementation. &amp;#8220;No one wants to talk about shrinkage. That&amp;#8217;s too threatening to politicians, civic boosters and Chambers of Commerce.&amp;#8221;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-outline-level: 1&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Britney_cry&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesbritney-cry-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;&amp;#8220;That&amp;#8217;s a hard choice to make&amp;#8221;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;&lt;o:p&gt;&lt;font size=&quot;3&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;[Continued tomorrow in &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2008/05/too-many-houses-part-2-the-un-building-government.html&quot;&gt;Part 2&lt;/a&gt;&lt;/span&gt;&lt;/i&gt;&lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;.]&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/i&gt;&lt;/p&gt;
&lt;p&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA&quot;&gt;&lt;br style=&quot;PAGE-BREAK-BEFORE: always; mso-special-character: line-break&quot; clear=&quot;all&quot;&gt;&lt;/span&gt;&lt;/p&gt;
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		<title>Where the buffalo home?</title>
		<link>http://affordablehousinginstitute.org/blogs/us/2008/03/where-the-buffalo-home.html</link>
		<comments>http://affordablehousinginstitute.org/blogs/us/2008/03/where-the-buffalo-home.html#comments</comments>
		<pubDate>Fri, 07 Mar 2008 15:56:24 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Demand]]></category>
		<category><![CDATA[Demographics]]></category>
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		<category><![CDATA[US News]]></category>
		<category><![CDATA[Urbanization]]></category>

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		<description><![CDATA[As urbanization remakes the global south, it&#8217;s also operating much closer to home, and though Americans are much better equipped to cope with them, the changes are no less profound.&#160; 
&#160;

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As highlighted in this article from The Economist, America&#8217;s northern center &#8211; the Mississippi and Missouri drainage basins &#8211; is slowly or rapidly depopulating, except [...]]]></description>
			<content:encoded><![CDATA[<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">As <a href="http://affordablehousinginstitute.org/blogs/us/2008/02/the-century-of-cities.html">urbanization remakes the global south</a>, it&#8217;s also operating much closer to home, and though Americans are much better equipped to cope with them, the changes are no less profound.<span style="mso-spacerun: yes">&nbsp; </span><?xml:namespace prefix ="" o ns ="" "urn:schemas-microsoft-com:office:office" /><o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><img alt="Heartland_america_population" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesheartland-america-population-small.jpg" border="0" /></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">As highlighted in this article from </span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; mso-bidi-font-size: 8.0pt"><a href="http://www.economist.com/world/na/displaystory.cfm?story_id=10534077">The Economist</a>, </span><?xml:namespace prefix ="" st1 ns ="" "urn:schemas-microsoft-com:office:smarttags" /><st1:country-region w:st="on"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">America</span></st1:country-region><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#8217;s northern center &ndash; the <st1:state w:st="on">Mississippi</st1:state> and <st1:place w:st="on"><st1:state w:st="on">Missouri</st1:state></st1:place> drainage basins &ndash; is slowly or rapidly depopulating, except for a few nodes called capital cities and major regional business hubs.<span style="mso-spacerun: yes">&nbsp; </span><o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">In eastern <st1:state w:st="on"><st1:place w:st="on">Colorado</st1:place></st1:state>, the human tide ebbs. <st1:place w:st="on"><st1:city w:st="on">Cheyenne</st1:city></st1:place> county, which had 3,700 inhabitants in 1930, now has just 1,900. And the drift away from the area seems to be speeding up. In the old county jail, which is now a museum, a photograph from 1910 shows a three-storey schoolhouse towering over the town of <st1:place w:st="on"><st1:city w:st="on">Cheyenne Wells</st1:city></st1:place>. The new school is one storey high&mdash;yet it already seems too big. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"><st1:place w:st="on"><st1:city w:st="on"></st1:city></st1:place></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Map_cheyenne" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesmap-cheyenne-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><st1:place w:st="on"><st1:placename w:st="on"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Cheyenne</span></st1:placename><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt"> <st1:placetype w:st="on">County</st1:placetype></span></st1:place><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">, where the dots are bigger than the towns<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">The impact on homeownership patterns &ndash; and the implications for property values and policy choices &ndash; will be huge.<span style="mso-spacerun: yes">&nbsp; </span><o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><st1:place w:st="on"><st1:country-region w:st="on"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">America</span></st1:country-region></st1:place><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"> as a whole is growing briskly. Between 2000 and 2006 its population swelled by 6.4%, according to the Census Bureau.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; mso-bidi-font-size: 8.0pt">Driving American urbanization are the twin forces driving it globally:<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; mso-bidi-font-size: 8.0pt"><o:p>&nbsp;</o:p></span></p>
<ol style="MARGIN-TOP: 0in" type="1">
<li class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-list: l0 level1 lfo1; tab-stops: list .5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; mso-bidi-font-size: 8.0pt">Better agricultural technology.<o:p></o:p></span></li>
<li class="MsoNormal" style="MARGIN: 0in 0in 0pt; mso-list: l0 level1 lfo1; tab-stops: list .5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; mso-bidi-font-size: 8.0pt">Movement toward information-based employment.<o:p></o:p></span></li>
</ol>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">As people move off the farms and into the coastal cities, what happens to the towns they leave behind?<span style="mso-spacerun: yes">&nbsp; </span>They evaporate of people, if not of property:<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Yet the expansion has passed many areas by. <span style="mso-spacerun: yes">&nbsp;</span><b style="mso-bidi-font-weight: normal">Two-fifths of all counties are shrinking</b> (see map). <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><img alt="Economist_great_plains_drain_map_080117" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imageseconomist-great-plains-drain-map-080117-small.jpg" border="0" /></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Draining out the middle: where it&#8217;s white or red, the population&#8217;s growing slowly if at all.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">In general, people are moving to places that are warm, mountainous or suburban. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">We&#8217;ve known this for some time, as I&#8217;ve previously posted in <i style="mso-bidi-font-style: normal"><a href="http://affordablehousinginstitute.org/blogs/us/2005/07/where_will_peop.html">Where will people move?<span style="FONT-STYLE: normal"> </span></a></i><span style="mso-spacerun: yes">&nbsp;</span>They&#8217;re moving to warmer, wetter, more varied places.<span style="mso-spacerun: yes">&nbsp; </span>The <st1:place w:st="on">Upper Midwest</st1:place> is none of these. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">They are leaving many rural areas, with the most relentless decline in a broad band stretching from western <st1:state w:st="on">Texas</st1:state> to <st1:place w:st="on"><st1:state w:st="on">North Dakota</st1:state></st1:place>. In parts, the Great Plains are more sparsely populated now than they were in the late 19th century, when the government declared them to be deserted. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">You realize that this means fewer people in those areas than a hundred years ago.<span style="mso-spacerun: yes">&nbsp; </span>During that same interval, <st1:place w:st="on"><st1:country-region w:st="on">America</st1:country-region></st1:place>&#8217;s population increased nearly fourfold, from <a href="http://www.demographia.com/db-uspop1900.htm">76 million in 1900</a> to <a href="http://www.census.gov/main/www/popclock.html">303 million in 2008</a>.<span style="mso-spacerun: yes">&nbsp; </span><o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Quadruplets" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesquadruplets-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">For every 1 in 1900, 4 in 2008 &ndash; and all three new ones moved to the cities<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">At 2.5 people per household, that means we have created 90 million new households in a century plus, <i style="mso-bidi-font-style: normal">all in the cities</i>.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Yet <st1:country-region w:st="on"><st1:place w:st="on">America</st1:place></st1:country-region> is growing more crops than ever, with ecologically cleaner farming.<span style="mso-spacerun: yes">&nbsp; </span>Why?<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">A big reason is <b style="mso-bidi-font-weight: normal">improvements in farming technology</b>. Tractors in eastern <st1:state w:st="on">Colorado</st1:state> do not resemble the vehicles that trundle around farms on the east coast and in <st1:place w:st="on">Europe</st1:place>. They are many-wheeled monsters, sometimes driven by global positioning systems. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><img alt="Mega_tractor" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesmega-tractor-small.jpg" border="0" /></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">It could be a Terminator except it&#8217;s painted in John Deere colors<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Toby Johnson says his 40,000-acre (16,200-hectare) ranch in <st1:place w:st="on"><st1:city w:st="on">Cheyenne</st1:city></st1:place> county &#8211;<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">We have to stop for just a moment.<span style="mso-spacerun: yes">&nbsp; </span>Mr. Johnson&#8217;s ranch, 60 square miles, a square eight miles on a side, is <a href="http://www.kidport.com/RefLib/UsaGeography/facts/DColumbia.htm">just about the size of the District of Columbia</a>.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Ge_cheyenne_colorado" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesge-cheyenne-colorado-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><st1:place w:st="on"><st1:city w:st="on"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Cheyenne</span></st1:city><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">, <st1:state w:st="on">Colorado</st1:state></span></st1:place><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">, wheat squares broken only by a highway<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">When the West was being settled, a standard section was 40 acres, one-quarter mile on a side.<span style="mso-spacerun: yes">&nbsp; </span><o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><img alt="Property_measures" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesproperty-measures-small.jpg" border="0" /></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Now the farms are 1,000 times bigger.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">&#8211; employed between eight and ten workers in the 1950s. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Even half a century ago, American agriculture was among the world&#8217;s most productive, and technology has made it even more so:<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">It now has two, including him. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Thus, while productivity has risen, the job base has shrunk by a factor of four.<span style="mso-spacerun: yes">&nbsp; </span>Farming has not only become technological, it has replaced people with capital, because that&#8217;s what the farm equipment represents &ndash; capital expenditure.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">When old farmers retire, their plots tend to be swallowed up by larger, more efficient operators. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"><st1:state w:st="on"><st1:place w:st="on"></st1:place></st1:state></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Farmer_texas" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesfarmer-texas-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">A farmer in the Thirties<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><img alt="Modern_farmer" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesmodern-farmer-small.jpg" border="0" /></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">A farmer in the Oughties<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">This is economically rational and, at least in a macro sense, good for everybody.<span style="mso-spacerun: yes">&nbsp; </span>Larger operators have better capitalization; they can run those enormous machines over more acres for a much smaller incremental cost.<span style="mso-spacerun: yes">&nbsp; </span>Technology implies scale in both acreage and capital.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Fewer jobs, fewer people.<span style="mso-spacerun: yes">&nbsp; </span>Fewer people, fewer homes.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><img alt="Ghost_town_truck_stop" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesghost-town-truck-stop-small.jpg" border="0" /></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">And fewer jobs<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">The population of the <st1:place w:st="on">Great Plains</st1:place> teeters on this shrinking agricultural base. While much of <st1:state w:st="on">Colorado</st1:state> grew, <st1:place w:st="on"><st1:city w:st="on">Cheyenne</st1:city></st1:place> county shrank every year between 2000 and 2006, when it lost more than 300 people. Children are disappearing even more quickly. Ten years ago 495 pupils enrolled in the county&#8217;s public schools; this year 320 did. <span style="mso-spacerun: yes">&nbsp;</span><o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">As we saw in <i style="mso-bidi-font-style: normal"><a href="http://affordablehousinginstitute.org/blogs/us/2008/01/demographic-shakers-part-1-abstinence.html">Demographic Shakers</a></i>, when you stop having young people, fairly soon you stop having people.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">In Kit Carson, the second-biggest settlement, the school enrolled just four teenagers in the tenth grade. Shops and houses nearby are already boarded up. If the school were to close, there would be little reason for the town to exist at all. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Presumably, twenty years from now, it won&#8217;t exist &ndash; as a town, that is.<span style="mso-spacerun: yes">&nbsp; </span><a href="http://affordablehousinginstitute.org/blogs/us/2007/05/as_a_town_dies.html">Some towns die</a>.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Optimists point to two likely developments that may slow the decline. Assuming a power line is built, wind farms will probably appear in the area in the next few years, as they have in western <st1:state w:st="on"><st1:place w:st="on">Texas</st1:place></st1:state>. That will generate construction jobs and tax revenues. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">The construction jobs will be transitory; the tax revenues, while welcome, with still hav little profitable in which to invest.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">A more ambitious proposal involves building a &ldquo;super-highway&rdquo; between <st1:country-region w:st="on">Mexico</st1:country-region> and <st1:country-region w:st="on">Canada</st1:country-region>, which would pass through eastern <st1:state w:st="on"><st1:place w:st="on">Colorado</st1:place></st1:state>. Backers say it would almost double traffic through <st1:place w:st="on"><st1:city w:st="on">Cheyenne</st1:city></st1:place> county, leading to an increase in jobs and perhaps even in people. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Lincoln_highway" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imageslincoln-highway-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Somehow I doubt that a truck stop will really attract all that many people<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">I can&#8217;t say that I&#8217;m a prairie truck stop cowboy, but I&#8217;ve driven enough of those undulating grassy interstates to know that simply having one is no particular job attractor; it just migrates the few jobs that remain to the off-ramp areas.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Yet the road is many years from being built.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">If the people won&#8217;t come to our wheatfields of dreams, whom can we attract?<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><img alt="Buffaloherd" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesbuffaloherd-small.jpg" border="0" /></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">There is a somewhat drastic alternative. In the 1980s two <a href="http://policy.rutgers.edu/faculty/popper/">academics from Rutgers University</a> <a href="http://www.planning.org/25anniversary/planning/1987dec.htm">suggested turning the plains</a> into a &ldquo;buffalo commons&rdquo;, where the animals that grazed the area before white immigration would be encouraged to return. The idea was so unpopular that its authors occasionally had to be protected by police. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Frank_j_popper_buffalo" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesfrank-j-popper-buffalo-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Frank J. Popper has seen the future, and it&#8217;s a herd<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Some prickly people might feel insulted when you suggest that a hairy, dumb, four-legged animal is more suited to their towns than they are.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Buffalo_up_close" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesbuffalo-up-close-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">I and my fellow buffalo snort at this notion<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">But it is nonetheless coming to pass. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Neighborhoods and housing are land used to grow people.<span style="mso-spacerun: yes">&nbsp; </span>When they cease growing people, it&#8217;s time to start growing something else.<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><st1:place w:st="on"><st1:city w:st="on"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Buffalo</span></st1:city></st1:place><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"> meat is leaner than beef, and thus well suited to contemporary health worries. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Perhaps, like <a href="http://books.google.com/books?id=Y679eQn3S-MC&amp;pg=PA845&amp;lpg=PA845&amp;dq=arthur+clarke+ambrosia+plus&amp;source=web&amp;ots=sKKuu2J2Yz&amp;sig=jRGz2nc_JwTSn3kuuISKe_x_fO0&amp;hl=en">Arthur C. Clarke&#8217;s Ambrosia Plus</a>, it tastes like chicken?<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Partly as a result, the buffalo are coming back: some 62,000 were slaughtered between January and November last year, a 17% rise over a year earlier. <span style="mso-spacerun: yes">&nbsp;</span>Of the plains states, only <st1:place w:st="on"><st1:state w:st="on">North Dakota</st1:state></st1:place> has openly mulled turning over large tracts of land to the furry megafauna. <span style="mso-spacerun: yes">&nbsp;</span><o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Yellowstone_buffalo_herd" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesyellowstone-buffalo-herd-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">No indoor plumbing required, and low maintenance costs<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">But other areas, including eastern Colorado, have preserved grasslands and are touting their natural resources and history&mdash;a vivid one of brutal treks and Indian massacres. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Jo Downey of the <a href="http://www.prairiedevelopment.com/about/index.htm">[Priaire] Development Corporation</a> reckons nothing can stop the drift away from places like <st1:place w:st="on"><st1:city w:st="on">Cheyenne</st1:city></st1:place> county, and others agree. The challenge for the future is not to stem the tide, but to keep life as pleasant as possible for those who remain. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua"></span><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Prairie_development_corporation" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesprairie-development-corporation-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Four counties in search of a future?<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Curiously, it&#8217;s possible that the same technological forces slowly depopulating the Great Plains will lead to their stabilization in a virtually connected, physically isolated world somewhat like the original Australian stations that <a href="http://en.wikipedia.org/wiki/Arthur_Upfield">Arthur Upfield so vividly evoked</a>, <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p><img alt="Sands_of_windee" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagessands-of-windee-small.jpg" border="0" /></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Even in the widest open spaces, there can be crime<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">or <a href="http://affordablehousinginstitute.org/blogs/us/2007/11/the-ultimate-future-city-part-2-the-estates.html">Isaac Asimov&#8217;s Solaria</a>, one of the possible <a href="http://affordablehousinginstitute.org/blogs/us/2007/11/the-ultimate-future-city-part-1-the-caves.html">ultimate future cities</a> about which I previously posted:<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: 'Palatino Linotype'; mso-bidi-font-family: Arial">&#8216;We have no police force on Solaria.<span style="mso-spacerun: yes">&nbsp; </span>&hellip;<span style="mso-spacerun: yes">&nbsp; </span>No crime, you see.<span style="mso-spacerun: yes">&nbsp; </span>Our population is tiny and widely scattered.<span style="mso-spacerun: yes">&nbsp; </span>There is no occasion for crime, therefore no occasion for police.&#8217; <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">The same serenity has developed in <st1:place w:st="on"><st1:placename w:st="on">Cheyenne</st1:placename> <st1:placetype w:st="on">County</st1:placetype></st1:place>:<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Rayetta Palmer, a councilwoman in Cheyenne Wells, can nonetheless cite a list of local strengths. The few children get lots of attention: Kit Carson&#8217;s schools have a pupil-to-teacher ratio of seven to one, compared with 18 to one in <st1:place w:st="on"><st1:city w:st="on">Denver</st1:city></st1:place>, the state capital. As a result, they do well in tests. Crime is rare. The community is strikingly cohesive: at the petrol stations that double as cafés, locals do not take empty tables but sit together, as in a school dining room. <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Just like <st1:place w:st="on"><st1:placename w:st="on">Cheyenne</st1:placename> <st1:placetype w:st="on">County</st1:placetype></st1:place>, Solaria&#8217;s few people were surrounded by machines:<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: 'Palatino Linotype'; mso-bidi-font-family: Arial">&#8216;The human-robot ratio in any economy that has accepted robot labor tends continuously to increase despite any laws that are passed to prevent it.<span style="mso-spacerun: yes">&nbsp; </span>The increase is slowed, but never stopped.<span style="mso-spacerun: yes">&nbsp; </span>At first the human population increases, but the robot population increases much more quickly.<span style="mso-spacerun: yes">&nbsp; </span>Then, after a certain critical point is reached the human population begins to decline.<span style="mso-spacerun: yes">&nbsp; </span>A planet approaches a true social stability.&#8217; <o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">With all this distance comes a curious cultural retreat:<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: 'Palatino Linotype'; mso-bidi-font-family: Arial">&#8216;Why is it the Solarians object to seeing one another [in person]?&#8217;<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: 'Palatino Linotype'; mso-bidi-font-family: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt 0.5in"><span style="FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: 'Palatino Linotype'; mso-bidi-font-family: Arial">&#8216;It follows inevitably.<span style="mso-spacerun: yes">&nbsp; </span>We have huge estates.<span style="mso-spacerun: yes">&nbsp; </span>An estate ten thousand square miles in area is not uncommon, although the largest ones contain considerable unproductive land &hellip; In any case, it is the size of an estate, more than anything else, that determines a man&#8217;s position in society.<span style="mso-spacerun: yes">&nbsp; </span>And one property of a large estate is this: You can wander about in it almost aimlessly with little or no danger of entering a neighbor&#8217;s territory and thus encountering your neighbor. &hellip; In short, a Solarian takes pride in not meeting his neighbor.<span style="mso-spacerun: yes">&nbsp; </span>The desire not to do so led to the development of ever more perfect viewing equipment, and as the viewing equipment grew better there was less and less need ever to see one&#8217;s neighbor.<span style="mso-spacerun: yes">&nbsp; </span>It was a reinforcing cycle, a kind of feedback.&#8217;<span style="mso-spacerun: yes">&nbsp; </span>Page 104<o:p></o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">Can someone say, <i style="mso-bidi-font-style: normal">Second Life?<o:p></o:p></i></span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><i style="mso-bidi-font-style: normal"><span style="FONT-SIZE: 10pt; FONT-FAMILY: Arial"><o:p>&nbsp;</o:p></span></i></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><img alt="Second_life" src="http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagessecond-life-small.jpg" border="0" /></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt">Who needs a real city when you can meet anybody in a virtual one?</span></p>
<p class="MsoNormal" style="MARGIN: 0in 0in 0pt"><span style="FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt"><o:p></o:p></span>&nbsp;</p>
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<input type="hidden" name="postContent_0" value="&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;As &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2008/02/the-century-of-cities.html&quot;&gt;urbanization remakes the global south&lt;/a&gt;, it&amp;#8217;s also operating much closer to home, and though Americans are much better equipped to cope with them, the changes are no less profound.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;?xml:namespace prefix =&quot;&quot; o ns =&quot;&quot; &quot;urn:schemas-microsoft-com:office:office&quot; /&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;img alt=&quot;Heartland_america_population&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesheartland-america-population-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;As highlighted in this article from &lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial; mso-bidi-font-size: 8.0pt&quot;&gt;&lt;a href=&quot;http://www.economist.com/world/na/displaystory.cfm?story_id=10534077&quot;&gt;The Economist&lt;/a&gt;, &lt;/span&gt;&lt;?xml:namespace prefix =&quot;&quot; st1 ns =&quot;&quot; &quot;urn:schemas-microsoft-com:office:smarttags&quot; /&gt;&lt;st1:country-region w:st=&quot;on&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;America&lt;/span&gt;&lt;/st1:country-region&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&amp;#8217;s northern center &amp;ndash; the &lt;st1:state w:st=&quot;on&quot;&gt;Mississippi&lt;/st1:state&gt; and &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:state w:st=&quot;on&quot;&gt;Missouri&lt;/st1:state&gt;&lt;/st1:place&gt; drainage basins &amp;ndash; is slowly or rapidly depopulating, except for a few nodes called capital cities and major regional business hubs.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;In eastern &lt;st1:state w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;Colorado&lt;/st1:place&gt;&lt;/st1:state&gt;, the human tide ebbs. &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Cheyenne&lt;/st1:city&gt;&lt;/st1:place&gt; county, which had 3,700 inhabitants in 1930, now has just 1,900. And the drift away from the area seems to be speeding up. In the old county jail, which is now a museum, a photograph from 1910 shows a three-storey schoolhouse towering over the town of &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Cheyenne Wells&lt;/st1:city&gt;&lt;/st1:place&gt;. The new school is one storey high&amp;mdash;yet it already seems too big. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;&lt;/st1:city&gt;&lt;/st1:place&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Map_cheyenne&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesmap-cheyenne-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:placename w:st=&quot;on&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Cheyenne&lt;/span&gt;&lt;/st1:placename&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt; &lt;st1:placetype w:st=&quot;on&quot;&gt;County&lt;/st1:placetype&gt;&lt;/span&gt;&lt;/st1:place&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;, where the dots are bigger than the towns&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;The impact on homeownership patterns &amp;ndash; and the implications for property values and policy choices &amp;ndash; will be huge.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:country-region w:st=&quot;on&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;America&lt;/span&gt;&lt;/st1:country-region&gt;&lt;/st1:place&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt; as a whole is growing briskly. Between 2000 and 2006 its population swelled by 6.4%, according to the Census Bureau.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial; mso-bidi-font-size: 8.0pt&quot;&gt;Driving American urbanization are the twin forces driving it globally:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial; mso-bidi-font-size: 8.0pt&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;ol style=&quot;MARGIN-TOP: 0in&quot; type=&quot;1&quot;&gt;
&lt;li class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-list: l0 level1 lfo1; tab-stops: list .5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial; mso-bidi-font-size: 8.0pt&quot;&gt;Better agricultural technology.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/li&gt;
&lt;li class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt; mso-list: l0 level1 lfo1; tab-stops: list .5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial; mso-bidi-font-size: 8.0pt&quot;&gt;Movement toward information-based employment.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/li&gt;
&lt;/ol&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;As people move off the farms and into the coastal cities, what happens to the towns they leave behind?&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;They evaporate of people, if not of property:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Yet the expansion has passed many areas by. &lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp;&lt;/span&gt;&lt;b style=&quot;mso-bidi-font-weight: normal&quot;&gt;Two-fifths of all counties are shrinking&lt;/b&gt; (see map). &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;img alt=&quot;Economist_great_plains_drain_map_080117&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imageseconomist-great-plains-drain-map-080117-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Draining out the middle: where it&amp;#8217;s white or red, the population&amp;#8217;s growing slowly if at all.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;In general, people are moving to places that are warm, mountainous or suburban. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;We&amp;#8217;ve known this for some time, as I&amp;#8217;ve previously posted in &lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;&lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2005/07/where_will_peop.html&quot;&gt;Where will people move?&lt;span style=&quot;FONT-STYLE: normal&quot;&gt; &lt;/span&gt;&lt;/a&gt;&lt;/i&gt;&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp;&lt;/span&gt;They&amp;#8217;re moving to warmer, wetter, more varied places.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;The &lt;st1:place w:st=&quot;on&quot;&gt;Upper Midwest&lt;/st1:place&gt; is none of these. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;They are leaving many rural areas, with the most relentless decline in a broad band stretching from western &lt;st1:state w:st=&quot;on&quot;&gt;Texas&lt;/st1:state&gt; to &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:state w:st=&quot;on&quot;&gt;North Dakota&lt;/st1:state&gt;&lt;/st1:place&gt;. In parts, the Great Plains are more sparsely populated now than they were in the late 19th century, when the government declared them to be deserted. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;You realize that this means fewer people in those areas than a hundred years ago.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;During that same interval, &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:country-region w:st=&quot;on&quot;&gt;America&lt;/st1:country-region&gt;&lt;/st1:place&gt;&amp;#8217;s population increased nearly fourfold, from &lt;a href=&quot;http://www.demographia.com/db-uspop1900.htm&quot;&gt;76 million in 1900&lt;/a&gt; to &lt;a href=&quot;http://www.census.gov/main/www/popclock.html&quot;&gt;303 million in 2008&lt;/a&gt;.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Quadruplets&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesquadruplets-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;For every 1 in 1900, 4 in 2008 &amp;ndash; and all three new ones moved to the cities&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;At 2.5 people per household, that means we have created 90 million new households in a century plus, &lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;all in the cities&lt;/i&gt;.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Yet &lt;st1:country-region w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;America&lt;/st1:place&gt;&lt;/st1:country-region&gt; is growing more crops than ever, with ecologically cleaner farming.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;Why?&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;A big reason is &lt;b style=&quot;mso-bidi-font-weight: normal&quot;&gt;improvements in farming technology&lt;/b&gt;. Tractors in eastern &lt;st1:state w:st=&quot;on&quot;&gt;Colorado&lt;/st1:state&gt; do not resemble the vehicles that trundle around farms on the east coast and in &lt;st1:place w:st=&quot;on&quot;&gt;Europe&lt;/st1:place&gt;. They are many-wheeled monsters, sometimes driven by global positioning systems. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;img alt=&quot;Mega_tractor&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesmega-tractor-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;It could be a Terminator except it&amp;#8217;s painted in John Deere colors&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Toby Johnson says his 40,000-acre (16,200-hectare) ranch in &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Cheyenne&lt;/st1:city&gt;&lt;/st1:place&gt; county &amp;#8211;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;We have to stop for just a moment.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;Mr. Johnson&amp;#8217;s ranch, 60 square miles, a square eight miles on a side, is &lt;a href=&quot;http://www.kidport.com/RefLib/UsaGeography/facts/DColumbia.htm&quot;&gt;just about the size of the District of Columbia&lt;/a&gt;.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Ge_cheyenne_colorado&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesge-cheyenne-colorado-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Cheyenne&lt;/span&gt;&lt;/st1:city&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;, &lt;st1:state w:st=&quot;on&quot;&gt;Colorado&lt;/st1:state&gt;&lt;/span&gt;&lt;/st1:place&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;, wheat squares broken only by a highway&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;When the West was being settled, a standard section was 40 acres, one-quarter mile on a side.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;img alt=&quot;Property_measures&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesproperty-measures-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Now the farms are 1,000 times bigger.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&amp;#8211; employed between eight and ten workers in the 1950s. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Even half a century ago, American agriculture was among the world&amp;#8217;s most productive, and technology has made it even more so:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;It now has two, including him. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Thus, while productivity has risen, the job base has shrunk by a factor of four.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;Farming has not only become technological, it has replaced people with capital, because that&amp;#8217;s what the farm equipment represents &amp;ndash; capital expenditure.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;When old farmers retire, their plots tend to be swallowed up by larger, more efficient operators. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;st1:state w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;&lt;/st1:place&gt;&lt;/st1:state&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Farmer_texas&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesfarmer-texas-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;A farmer in the Thirties&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;img alt=&quot;Modern_farmer&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesmodern-farmer-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;A farmer in the Oughties&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;This is economically rational and, at least in a macro sense, good for everybody.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;Larger operators have better capitalization; they can run those enormous machines over more acres for a much smaller incremental cost.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;Technology implies scale in both acreage and capital.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Fewer jobs, fewer people.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;Fewer people, fewer homes.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;img alt=&quot;Ghost_town_truck_stop&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesghost-town-truck-stop-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;And fewer jobs&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;The population of the &lt;st1:place w:st=&quot;on&quot;&gt;Great Plains&lt;/st1:place&gt; teeters on this shrinking agricultural base. While much of &lt;st1:state w:st=&quot;on&quot;&gt;Colorado&lt;/st1:state&gt; grew, &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Cheyenne&lt;/st1:city&gt;&lt;/st1:place&gt; county shrank every year between 2000 and 2006, when it lost more than 300 people. Children are disappearing even more quickly. Ten years ago 495 pupils enrolled in the county&amp;#8217;s public schools; this year 320 did. &lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp;&lt;/span&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;As we saw in &lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;&lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2008/01/demographic-shakers-part-1-abstinence.html&quot;&gt;Demographic Shakers&lt;/a&gt;&lt;/i&gt;, when you stop having young people, fairly soon you stop having people.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;In Kit Carson, the second-biggest settlement, the school enrolled just four teenagers in the tenth grade. Shops and houses nearby are already boarded up. If the school were to close, there would be little reason for the town to exist at all. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Presumably, twenty years from now, it won&amp;#8217;t exist &amp;ndash; as a town, that is.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2007/05/as_a_town_dies.html&quot;&gt;Some towns die&lt;/a&gt;.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Optimists point to two likely developments that may slow the decline. Assuming a power line is built, wind farms will probably appear in the area in the next few years, as they have in western &lt;st1:state w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;Texas&lt;/st1:place&gt;&lt;/st1:state&gt;. That will generate construction jobs and tax revenues. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;The construction jobs will be transitory; the tax revenues, while welcome, with still hav little profitable in which to invest.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;A more ambitious proposal involves building a &amp;ldquo;super-highway&amp;rdquo; between &lt;st1:country-region w:st=&quot;on&quot;&gt;Mexico&lt;/st1:country-region&gt; and &lt;st1:country-region w:st=&quot;on&quot;&gt;Canada&lt;/st1:country-region&gt;, which would pass through eastern &lt;st1:state w:st=&quot;on&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;Colorado&lt;/st1:place&gt;&lt;/st1:state&gt;. Backers say it would almost double traffic through &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Cheyenne&lt;/st1:city&gt;&lt;/st1:place&gt; county, leading to an increase in jobs and perhaps even in people. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Lincoln_highway&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imageslincoln-highway-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Somehow I doubt that a truck stop will really attract all that many people&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;I can&amp;#8217;t say that I&amp;#8217;m a prairie truck stop cowboy, but I&amp;#8217;ve driven enough of those undulating grassy interstates to know that simply having one is no particular job attractor; it just migrates the few jobs that remain to the off-ramp areas.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Yet the road is many years from being built.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;If the people won&amp;#8217;t come to our wheatfields of dreams, whom can we attract?&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;img alt=&quot;Buffaloherd&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesbuffaloherd-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;There is a somewhat drastic alternative. In the 1980s two &lt;a href=&quot;http://policy.rutgers.edu/faculty/popper/&quot;&gt;academics from Rutgers University&lt;/a&gt; &lt;a href=&quot;http://www.planning.org/25anniversary/planning/1987dec.htm&quot;&gt;suggested turning the plains&lt;/a&gt; into a &amp;ldquo;buffalo commons&amp;rdquo;, where the animals that grazed the area before white immigration would be encouraged to return. The idea was so unpopular that its authors occasionally had to be protected by police. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Frank_j_popper_buffalo&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesfrank-j-popper-buffalo-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Frank J. Popper has seen the future, and it&amp;#8217;s a herd&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Some prickly people might feel insulted when you suggest that a hairy, dumb, four-legged animal is more suited to their towns than they are.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Buffalo_up_close&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesbuffalo-up-close-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;I and my fellow buffalo snort at this notion&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;But it is nonetheless coming to pass. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Neighborhoods and housing are land used to grow people.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;When they cease growing people, it&amp;#8217;s time to start growing something else.&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Buffalo&lt;/span&gt;&lt;/st1:city&gt;&lt;/st1:place&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt; meat is leaner than beef, and thus well suited to contemporary health worries. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Perhaps, like &lt;a href=&quot;http://books.google.com/books?id=Y679eQn3S-MC&amp;amp;pg=PA845&amp;amp;lpg=PA845&amp;amp;dq=arthur+clarke+ambrosia+plus&amp;amp;source=web&amp;amp;ots=sKKuu2J2Yz&amp;amp;sig=jRGz2nc_JwTSn3kuuISKe_x_fO0&amp;amp;hl=en&quot;&gt;Arthur C. Clarke&amp;#8217;s Ambrosia Plus&lt;/a&gt;, it tastes like chicken?&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Partly as a result, the buffalo are coming back: some 62,000 were slaughtered between January and November last year, a 17% rise over a year earlier. &lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp;&lt;/span&gt;Of the plains states, only &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:state w:st=&quot;on&quot;&gt;North Dakota&lt;/st1:state&gt;&lt;/st1:place&gt; has openly mulled turning over large tracts of land to the furry megafauna. &lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp;&lt;/span&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Yellowstone_buffalo_herd&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesyellowstone-buffalo-herd-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;No indoor plumbing required, and low maintenance costs&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;But other areas, including eastern Colorado, have preserved grasslands and are touting their natural resources and history&amp;mdash;a vivid one of brutal treks and Indian massacres. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Jo Downey of the &lt;a href=&quot;http://www.prairiedevelopment.com/about/index.htm&quot;&gt;[Priaire] Development Corporation&lt;/a&gt; reckons nothing can stop the drift away from places like &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Cheyenne&lt;/st1:city&gt;&lt;/st1:place&gt; county, and others agree. The challenge for the future is not to stem the tide, but to keep life as pleasant as possible for those who remain. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; BACKGROUND: aqua; FONT-FAMILY: Arial; mso-highlight: aqua&quot;&gt;&lt;/span&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Prairie_development_corporation&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagesprairie-development-corporation-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Four counties in search of a future?&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Curiously, it&amp;#8217;s possible that the same technological forces slowly depopulating the Great Plains will lead to their stabilization in a virtually connected, physically isolated world somewhat like the original Australian stations that &lt;a href=&quot;http://en.wikipedia.org/wiki/Arthur_Upfield&quot;&gt;Arthur Upfield so vividly evoked&lt;/a&gt;, &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&lt;img alt=&quot;Sands_of_windee&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagessands-of-windee-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Even in the widest open spaces, there can be crime&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;or &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2007/11/the-ultimate-future-city-part-2-the-estates.html&quot;&gt;Isaac Asimov&amp;#8217;s Solaria&lt;/a&gt;, one of the possible &lt;a href=&quot;http://affordablehousinginstitute.org/blogs/us/2007/11/the-ultimate-future-city-part-1-the-caves.html&quot;&gt;ultimate future cities&lt;/a&gt; about which I previously posted:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: 'Palatino Linotype'; mso-bidi-font-family: Arial&quot;&gt;&amp;#8216;We have no police force on Solaria.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;&amp;hellip;&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;No crime, you see.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;Our population is tiny and widely scattered.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;There is no occasion for crime, therefore no occasion for police.&amp;#8217; &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;The same serenity has developed in &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:placename w:st=&quot;on&quot;&gt;Cheyenne&lt;/st1:placename&gt; &lt;st1:placetype w:st=&quot;on&quot;&gt;County&lt;/st1:placetype&gt;&lt;/st1:place&gt;:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Rayetta Palmer, a councilwoman in Cheyenne Wells, can nonetheless cite a list of local strengths. The few children get lots of attention: Kit Carson&amp;#8217;s schools have a pupil-to-teacher ratio of seven to one, compared with 18 to one in &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:city w:st=&quot;on&quot;&gt;Denver&lt;/st1:city&gt;&lt;/st1:place&gt;, the state capital. As a result, they do well in tests. Crime is rare. The community is strikingly cohesive: at the petrol stations that double as cafés, locals do not take empty tables but sit together, as in a school dining room. &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Just like &lt;st1:place w:st=&quot;on&quot;&gt;&lt;st1:placename w:st=&quot;on&quot;&gt;Cheyenne&lt;/st1:placename&gt; &lt;st1:placetype w:st=&quot;on&quot;&gt;County&lt;/st1:placetype&gt;&lt;/st1:place&gt;, Solaria&amp;#8217;s few people were surrounded by machines:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: 'Palatino Linotype'; mso-bidi-font-family: Arial&quot;&gt;&amp;#8216;The human-robot ratio in any economy that has accepted robot labor tends continuously to increase despite any laws that are passed to prevent it.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;The increase is slowed, but never stopped.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;At first the human population increases, but the robot population increases much more quickly.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;Then, after a certain critical point is reached the human population begins to decline.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;A planet approaches a true social stability.&amp;#8217; &lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;With all this distance comes a curious cultural retreat:&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: 'Palatino Linotype'; mso-bidi-font-family: Arial&quot;&gt;&amp;#8216;Why is it the Solarians object to seeing one another [in person]?&amp;#8217;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: 'Palatino Linotype'; mso-bidi-font-family: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt 0.5in&quot;&gt;&lt;span style=&quot;FONT-SIZE: 11pt; COLOR: blue; FONT-FAMILY: 'Palatino Linotype'; mso-bidi-font-family: Arial&quot;&gt;&amp;#8216;It follows inevitably.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;We have huge estates.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;An estate ten thousand square miles in area is not uncommon, although the largest ones contain considerable unproductive land &amp;hellip; In any case, it is the size of an estate, more than anything else, that determines a man&amp;#8217;s position in society.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;And one property of a large estate is this: You can wander about in it almost aimlessly with little or no danger of entering a neighbor&amp;#8217;s territory and thus encountering your neighbor. &amp;hellip; In short, a Solarian takes pride in not meeting his neighbor.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;The desire not to do so led to the development of ever more perfect viewing equipment, and as the viewing equipment grew better there was less and less need ever to see one&amp;#8217;s neighbor.&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;It was a reinforcing cycle, a kind of feedback.&amp;#8217;&lt;span style=&quot;mso-spacerun: yes&quot;&gt;&amp;nbsp; &lt;/span&gt;Page 104&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;Can someone say, &lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;Second Life?&lt;o:p&gt;&lt;/o:p&gt;&lt;/i&gt;&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;i style=&quot;mso-bidi-font-style: normal&quot;&gt;&lt;span style=&quot;FONT-SIZE: 10pt; FONT-FAMILY: Arial&quot;&gt;&lt;o:p&gt;&amp;nbsp;&lt;/o:p&gt;&lt;/span&gt;&lt;/i&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;img alt=&quot;Second_life&quot; src=&quot;http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/imagessecond-life-small.jpg&quot; border=&quot;0&quot; /&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;Who needs a real city when you can meet anybody in a virtual one?&lt;/span&gt;&lt;/p&gt;
&lt;p class=&quot;MsoNormal&quot; style=&quot;MARGIN: 0in 0in 0pt&quot;&gt;&lt;span style=&quot;FONT-SIZE: 8pt; FONT-FAMILY: Arial; mso-bidi-font-size: 10.0pt&quot;&gt;&lt;o:p&gt;&lt;/o:p&gt;&lt;/span&gt;&amp;nbsp;&lt;/p&gt;
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