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Next time you're in Madrid I'll take you on a tour of plots to be developed that remain undeveloped (they have all the utilities and street lighting, the sidewalks are paved, but no construction ever started on the houses), half-finished apartment buildings, empty subdivisions that were never occupied or sold.
Show me one place in Madrid where there used to be a thriving neighborhood, with industry and local businesses, that now has abandoned homes, others demolished, and the few holdouts selling for less than you can buy a car for.
What you're talking about is overbuilding. What I'm talking about is a situation where an existing community is in the process of disappearing.
I know that there are a number of places in Europe where there are the same pressures, but (for the moment) there's a social safety net in place, so it's a different beast. And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg
I'm actually living in one such neighbourhood and we're having a hard time finding an affordable place to buy, so we're renting...
Though there has also been overbuilding on vacant lots within existing "thriving neighbourhoods". Economics is politics by other means
Detroit is more like what I've heard about northern England -- cities dependent on certain industries, industries decline for a variety of reasons (some natural, some political, etc), and the area falls into a deflationary spiral. They're typically thought of as long-term declines. Be nice to America. Or we'll bring democracy to your country.
There was never a huge bubble in Detroit or a lot of other cities in the Midwest. It's just a long slow decline. I'm not even sure that Northern England captures it either. In 1970 Detroit had 1.5 million people, now it only has 714,000. The city's population declined by over half.
That sort of absolute collapse hasn't really happened in Northern England. The closest case is Liverpool, and even that's more like a 15-20% decline in population in the same period. And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg
But that's why even people who don't live in the US reference Detroit when talking about urban collapse. Most big cities have areas that look Detroit-ish. Even wealthy ones like New York and London. But Detroit is other-worldly in the scale of it.
Even the 1.5m figure understates it a bit. Didn't Detroit peak in 1950 at about 2m? Be nice to America. Or we'll bring democracy to your country.
The first time I was in Detroit, aside from transiting through the airport, I drove in from pleasant little Windsor, Ontario. Coming off the bridge, I felt like I got smacked in the face. There was the abandoned Michigan Central railway station, once the tallest train station in the world, now vacant and gaping, largely devoid of all windows, standing like a head stone over the city that never was and never will be. I was in awe.
So prices are lower than the UK average, but there was no crash to rock bottom, and the population outflow was more of a trickle than a panicked or forced exodus.
It was still socially devastating at the time, though.
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