What would happen if cities nationwide adopted so-called “smart growth” policies similar to those of, say, Portland, Oregon? Well this was the inquiry of a recent study conducted by the National Center for Public Policy Research, and the results don’t bode well for those favoring nestling more folks into the Big City. According to the study, average home prices would be nearly $10,000 higher and rents would increase by around six percent. More disturbing, some 260,000 minority homeowners in 2002 wouldn’t have been able to remain homeowners, and another nearly 750,000 Americans wouldn’t either. It seems for home buyers, smart growth policies really smart the pocketbook.
March 28, 2005 by Craig Rucker,
Craig Rucker is president and co-founder of CFACT.