Ruins of the Second Gilded Age

[Lunican]

Ruins of the Second Gilded Age





http://www.nytimes.com/slideshow/2009/07/05/magazine/20090705-gilded-slideshow_index.html

[Lunican]

Well, we did an article along these lines in October of last year.

Results of the Boom: Dead Projects
With the real estate boom of the new century now over, Metro Jacksonville takes a look at major proposed projects that died or were indefinitely delayed.

http://www.metrojacksonville.com/article/2008-oct-results-of-the-boom-dead-projects

[Doctor_K]

Pre poverty?  Like, to be in poverty before you're actually in poverty?

Also related and of note, I ran across this article yesterday:

http://www.washingtontimes.com/news/2009/jul/04/ghostboxes-galore/

BISMARCK, N.D.

Not long ago, hundreds of anxious shoppers watched as city officials used power saws to cut 2-by-4s during Home Depot Inc.'s ribbon-cutting ceremony for its 102,700-square-foot building center in Bismarck. Less than three years later, the home improvement retailer shuttered the underperforming store, leaving a big orange empty eyesore on the outskirts of town.

I also like the tidbits of 'adaptive reuse' that the article mentions.  Definitely going to be interesting to see 'what happens next.'

[mtraininjax]

Stephen - I can tell you this for sure. If the US keeps issuing debt for debt (treasuries), the value of the dollars in your pocket will continue to drop. You can use Gold/Silver and other commodities for value, but you can also use real estate as a way to stem the loss in value of the dollar.

The 2nd half of 2009 could cost the American Taxpayer another 1 trillion dollars to fix healthcare, and the debt used to pay for it, could hurt all of us with only dollars in our pockets. Real Estate might come back and be a larger player.


Something to watch for 2009.

[Lucasjj]

This story has been removed from the New York Times' website.

"A reader, however, discovered on close examination that one of the pictures was digitally altered, apparently for aesthetic reasons. Editors later confronted the photographer and determined that most of the images did not wholly reflect the reality they purported to show. Had the editors known that the photographs had been digitally manipulated, they would not have published the picture essay, which has been removed from NYTimes.com. "