Home prices during the recession have fallen in direct proportion to their proximity from a city's downtown, according to recent studies at the University of Utah reported by The New York Times. The research also showed that foreclosure rates in Washington, DC were much lower in counties served by the Metro rail system when compared with the next ring of counties further away, according to the paper.
The findings add to the body of knowledge that indicates highway-driven sprawl is bad for cities, a central premise of mass transit supporters, according to the report.
The study by Professor Arthur C. Nelson is entitled "Locating neat transit and near urban centers is the safer investment."
Read more about the issue in The New York Times at: http://www.nytimes.com/2009/11/06/us/06transit.html
