The Reagan White House moved to lower tax rates for developers in the 1980s and then years of low interest rates glutted downtowns with office buildings. Time's up.
Gotta agree. I travel extensively and have seen downtrodden town centers as well as vibrant ones. There are multiple factors, not just “white flight” which has had decades to be mitigated or shift culturally. One of the truths is that people are generally moving to urban areas. That’s where the jobs are. That means leaving small towns. However, if that small town is near an urban area it stands a good chance of getting an economic boost as move in or people looking to “get away” dump money into the tourist market. Yeah, crime and poverty do a lot to keep economic improvement away, but even places like Oakland in California, a hotbed of crime in the ‘80s/‘90s, has seen an economic boost and an overall improvement as rising property values made the area more desirable. Towns will grow or shrink as economic opportunities leave or arrive.
There are going to be winners and losers, but the general trend is that urban areas are still going to be the bigger beneficiaries.
Quite a lot. I didn’t want to make a pedantic and exhaustive list of economic causal factors, but buyers being outpriced in a nearby area forcing them to look at previously undesirable areas can certainly be a factor.
Gotta agree. I travel extensively and have seen downtrodden town centers as well as vibrant ones. There are multiple factors, not just “white flight” which has had decades to be mitigated or shift culturally. One of the truths is that people are generally moving to urban areas. That’s where the jobs are. That means leaving small towns. However, if that small town is near an urban area it stands a good chance of getting an economic boost as move in or people looking to “get away” dump money into the tourist market. Yeah, crime and poverty do a lot to keep economic improvement away, but even places like Oakland in California, a hotbed of crime in the ‘80s/‘90s, has seen an economic boost and an overall improvement as rising property values made the area more desirable. Towns will grow or shrink as economic opportunities leave or arrive.
There are going to be winners and losers, but the general trend is that urban areas are still going to be the bigger beneficiaries.
How much of the boost in Oakland was from SF just getting expensive as fuck to live in?
Quite a lot. I didn’t want to make a pedantic and exhaustive list of economic causal factors, but buyers being outpriced in a nearby area forcing them to look at previously undesirable areas can certainly be a factor.
Interesting, nah you’re good man. Not from the area nor a field anything about, just was curious