Friday, March 28, 2014

Residents of Struggling Cities Opt to Skip Town | FiveThirtyEight

Residents of Struggling Cities Opt to Skip Town | FiveThirtyEight:

"Eighteen U.S. metro areas had unemployment rates of 12 percent or higher in 2012, according to the Bureau of Labor Statistics, and all but three of them saw a net decline in migration — that is, they saw more people move out than move in.

These cities are overwhelmingly in inland California, where the collapse of the housing bubble left deep and lasting scars. California accounts for 13 of the 18 cities with unemployment rates of 12 percent or above,2 and for 18 of the 56 with unemployment rates in the double digits." [emphasis added]


Many cities, large and small, are dealing with multiple problems--unemployed residents, cratered housing markets, vanishing employers, increased social service and pension costs-that make them unable to deal with maintaining public infrastructure.  This problem is one reason cities have been promoting CID housing, with its private infrastructure.  But that crutch isn't working all that well presently. It has been obvious for years that HOAs and condos will be dealing with their own private infrastructure crisis, and that is happening right now.

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