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Abstract
In 1978 President Carter announced a national urban policy (President's Urban and Regional Policy Group). The policy focused on a number of goals, such as preserving the heritage of our older cities, maintaining urban investment, and assisting new cities in “confronting the challenges of growth.” A large number of those suggested policies will be administered or monitored by the federal Department of Housing and Urban Development (HUD). Most of our past government housing programs have focused on increasing the supply of housing and rebuilding downtown facilities, but they have failed in many areas to reverse the decline of cities. In fact, a number of government programs have proven counter-productive in their influence.
The future could be different as changing market forces and population demographics for the next fifteen years offer a unique opportunity for neighborhoods, cities, and financial institutions to develop a partnership to stimulate revitalization. However, new problems will emerge, and a national urban policy can succeed only if public and private sectors can work together and if policies can be sensitive to the market dynamics of cities. This paper outlines a fresh approach to designing housing strategies, based on an understanding of these market dynamics.