Dozens of US cities may have entire neighbourhoods bulldozed as part of drastic “shrink to survive” proposals being considered by the Obama administration to tackle economic decline.
It is not as ominous as it sounds but is based on a experiment radical nevertheless that focuses on concentrating the dwindling population of dying cities into a smaller more viable area.
via Telegraph.
The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.One of the best explanations of the current credit crisis. It shows how ordinary homeowners defaulting aren’t solely to blame and the problems are systemic tracing back to the lowering of the Fed rate and repeal of the Glass-Steagall Act in 1999 that allowed creation of mortgage-backed securities. But I’m no economist and reasons are far more complex that I could even begin to explain here. The sociological impacts on the neighborhoods however are only beginning to show with abandoned homes that are only making the problem worse.