As the exodus gathers momentum, all the reasons people clung so rabidly to urban meccas decay: venues and cafes close, street life fades, job opportunities dry up, and yet prices for everything remain high: transport, rent, taxes, employees, etc. Friends move away, favorite places close suddenly, streets that were safe now seem foreboding, and all the friction, crime, grime and dysfunction that was once tolerable becomes intolerable.
Source – charleshughsmith.blogspot.com
– “…Soaring taxes, decaying services, declining business, rising insecurity and stubbornly high costs all feed on each other…Each of these dynamics reinforce the others…And that’s how pricey urban meccas turn into ghost towns”
Could Pricey Urban Meccas become Crime-Ridden Ghost Towns? – By Charles Hugh Smith
As the exodus gathers momentum, all the reasons people clung so rabidly to urban meccas decay.
If there is any trend that’s viewed as permanent, it’s the enduring attraction of coastal urban meccas: despite the insane rents and housing costs, that’s where the jobs, the opportunities and the desirable urban culture are.
Nice, but like many other things the status quo considers permanent, this could reverse very quickly, and all those pricey urban meccas could become crime-ridden ghost towns. How could such a reversal occur?
1. Those in the top 10% who can leave reach an inflection point and decide to…
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