Surviving the market turmoil
New Urban News Article with images, 4/1/2008
Developers are adapting to the tough economy by cutting costs and using the flexibility inherent in Transect-based plans.
The housing industry is facing a “perfect storm” — the result of a combination of overbuilding, a credit crisis, and the bursting of a speculative bubble, according to Todd Zimmerman of Zimmerman/Volk Associates.
Bill Tucker, another consultant active in the New Urbanism, says that 2008 could be one of the worst years in history for builders and developers. “We’re in it with everybody else,” says developer John Anderson, based in Chico, California. “If there is a monsoon, everybody’s roof leaks.”
But there is good news as well, according to experts who gathered at the Congress for New Urbanism in Austin:
