If You Build It, Will They Come? Subprime Lending and the Economics of Newhall Ranch

"If you haven't heard, less than 50 miles from downtown Los Angeles, developers are currently planning to build an entirely new commuter city of more than 60,000 thousand people on the grounds of Newhall Ranch in the Santa Clarita and Santa Clara River valleys. That's 60,000 people exactly where we don't need them--out on the urban periphery, where car is king and where the interstate is the only means of accessing Los Angeles and her job market. More cars on the road, more air pollution and more sprawl--the exact opposite of what this city needs."