Segway: I have little use for Barney Frank and Chris Dodd, like the majority of our current congressmen, but the GOP’s effort to blame the housing crisis and their and/or the Democrats’ desire to expand home ownership to low income minorities is BELIED by the foreclosure data. Most foreclosures are occurring in the suburbs, not in the cities; and many of the foreclosed houses are McMansions or middle-of-the-road homes purchased by upper middle class people trying to keep up with the proverbial Joneses. These are not the people who benefited from the Democratic-led effort to expand home ownership to the less well to do.

This whole “housing crisis” should be viewed through a different prism. We’re seeing the re-shuffling of the deck in the advent of a new era, that’s why it’s taking longer to shake-out, and more unpredictably, than we might have expected. Housing prices in most cities, especially the creative class cities, are doing quite well, as Richard has pointed out a number of times.

Add to that Joe Biden’s statement while aboard an Amtrak train “If elected we’ll be the most rail friendly administration in history”.

And I think it is clear which side has more thoughts on urbanism.