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We've got nearly the same problem in Dallas. For decades the development has moved further north into the Ex-burbs and bedroom communities. The interesting com
by hkarthik 15y ago
We've got nearly the same problem in Dallas. For decades the development has moved further north into the Ex-burbs and bedroom communities.
The interesting component is how the development gets financed in a Ponzi-esque scheme. Suburbs are built out with municipal bonds, which subsidize the build outs of services (schools, police, fire stations, roads) while keeping property taxes low. Once the suburb is completely built out, the taxes double or triple to pay back the bonds. Then the next suburb just north or south of it is built with more new bonds and the cycle continues.