I'm quite preplexed that neither Leinberger or the writer of this piece even mention that energy prices were one of the core factors behind the rise and fall of exurban sprawl. Gas prices during the 1990s and early 2000s heyday of exurbia were the lowest they had ever been in US history (based on relative basis when considering adjustments inflation). When gas prices started to rise dramatically in 2005-2008, exurban real estate--nearly 100% car dependent--became the first dominos to fall in the US mortgage industry, setting off the carnage. I chronicled from 2008 onwards this relationshiop between exurban vs urban real estate values, correlated with energy prices. Even when gas prices began to fall somewhat in 2008 and 2009, people still began driving less, rode public transportation more and used alternative forms of mobility (bicycles, walking), besides trending toward more urban, mixed-use living options. And that longer term behavior change is due to the recognition that climate change (including global/ national and local regulations) and energy price/ supply volatility are here to stay; considering these macro fundementals, along with demographics, very few communities will be able to ever make exurban real estate attractive again to commerical or individual investors.
You can read my chapter from the 2010 Post Carbon Reader, "The Death of Sprawl" here: http://bit.ly/gJS8eR
I also blogged about the exurban-urban real estate value-gas price relationship in 2009 on this and other sites as well http://bit.ly/2YP9F2