In the Wall Street Journal today there is a lengthy article extolling the wonderful possibilities of smart growth in Sacramento, California. The author, likely being ignorant that “Smart Growth” caused the housing crash never stops to think about the consequences of central planning.
Sacramento decided to pursue smart growth vigorously a few years back in what the author seems to imply as prescient and enlightened. Sacramento so embraced Smart Growth that the article uses this quote to describe what is happening there:
“"They're really the model," says Steve Winkelman, a transportation expert at the Center for Clean Air Policy.
I say that smart growth leaves cities vulnerable to housing market booms and busts. Who’s right?
Well, according to RadarLogic’s April RPX Monthly Housing Market Report, Sacramento, the very model of Smart Growth, has experienced the worst housing decline of any city they track in America.
Free Market - 1
Smart Growth - 0