Financial Times

How US cities became one big parking lot

US cities have become one big parking lot, resulting in less dense and more expensive housing, and hollowed out urban life. Widespread city parking minimums are outdated and often result in unneeded expense or demolition, but dozens of cities have abolished or reduced their parking minimums citing t

US cities have dedicated valuable public land for the free storage of private cars, resulting in a concrete blight spreading across cities.
Abundant parking has hollowed out urban life, making housing less dense and more expensive.
30% of central Detroit is devoted to parking, as are significant portions of other major US cities.
Widespread city parking minimums are outdated and often result in unneeded expense or demolition.
Dozens of cities have abolished or reduced their parking minimums, citing the housing crisis as a catalyst.

Charting the Global Economy: Central Banks Hold as Prices Cool

Central banks around the world are pausing tightening campaigns as inflation eases and economies slow. Inflation-targeting regimes are keeping their own houses in order, while the US Fed's key inflation gauges fell to the slowest annual paces since late 2021.

Factbox: Turkey earthquake and some of the worst natural disasters of this century

Two massive earthquakes on Monday have devastated cities and towns across Turkey and Syria, with death toll of over 16,000. This is one of the worst natural disasters this century, alongside the 2004 Sumatran Tsunami, 2010 Haiti earthquake and 2008 Cyclone Nargis.

Take Five: Strap in for no landing

A raft of U.S. data and European inflation numbers will give guidance on how the world's top central banks will navigate the way ahead, including the hotly debated "no landing" scenario. Reports on U.S. durable goods orders, home prices, manufacturing and consumer confidence threaten to cement expec

Read next