Wednesday, March 27, 2024

The #1 way to revive urban cores, CA attempts the greatest white elephant project in history, Australia's home-building restrictions finally catch up with it, and more

 Some smaller items this week:

"Magical thinking caused politicians and the media to back this boondoggle in the first place, and more than 15 years later, incredibly, the spell still hasn't broken." 

"The plan admits that the agency expects to spend more on the 171 miles between Merced and Bakersfield than the $33 billion it had projected the entire 463-mile project would cost when voters approved it in 2008. ...

Meanwhile, in light of the pandemic, the agency has modestly reduced its ridership expectations from 35 million trips per year to 27.6 million. This is still more unrealistic than the cost projections. In 2019, Amtrak’s high-speed Acela carried less than 3.6 million riders in a corridor with a higher population than the LA-SF corridor. While California is promising higher speeds than the Acela, the Northeast Corridor has the advantage of really being two corridors anchored by New York, America’s largest city. The California corridor has no similar mid-point metropolis; the Fresno urban area has fewer than 725,000 residents compared with New York’s 19.5 million. Incidentally, to the extent that the 27.6 million turns out to be too high, the supposed savings from not having to expand road and airline capacities dwindles."

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At 9:10 AM, March 28, 2024, Blogger George Rogers said...

Harris County is helped by Cypress, most other counties don't have undeveloped areas with good schools to grow into.

At 1:43 PM, March 31, 2024, Anonymous Bill Reeves said...

I wonder what the millionaire numbers would look like without inflated home values?

At 1:53 PM, March 31, 2024, Anonymous Anonymous said...

Another thought: Every time I despair at some boneheaded thing that Texas or one of its cities does i comfort myself with the 2 guys being chased by a bear story: Texas doesn't have to be brilliantly governed, we just have to be less stupidly governed than the competion. Which these days is pretty much a layup.

At 7:06 PM, March 31, 2024, Blogger George Rogers said...

The tallest midget in the room.

At 7:35 PM, March 31, 2024, Blogger Tory Gattis said...

Good point on the overvalued homes in other cities pumping up the stats! And agreed on the bear analogy, lol.


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