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Keyword: failedcities

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  • Why Does The World's Richest Country Have So Many Failed Cities?

    10/21/2013 12:37:40 PM PDT · by SeekAndFind · 124 replies
    Forbes ^ | 10/20/2013 | Carl Schramm
    A century ago our nation was famous around the world for creating beautiful cities. Now, we are known for failing cities. In a recent 60 Minutes report Bob Simon noted that after he left what passes for sparks of new life in downtown, the rest of Detroit reminded him of Mogadishu “the worst place I’ve ever been.” A failing city, we have at least 25, is one that can never expect to return to its former prosperity. Soon Detroit’s population will be one third of what it was in 1960 – there is no chance it will ever boast two...
  • Detroit Tops 2013 List Of America’s Most Miserable Cities

    02/22/2013 11:26:12 AM PST · by Olog-hai · 43 replies
    Forbes ^ | 2/21/2013 @ 2:20PM | Kurt Badenhausen
    Forbes put Detroit Mayor Dave Bing on its cover in 2011 for a story with the optimistic headline: “City of Hope.” The premise was that the city had hit rock bottom and was poised for a turnaround. “Right now, it’s all about survival,” Bing told Forbes. Two years later, Detroit’s problems continue to multiply, sadly. It is still dealing with high levels of violent crime and unemployment. Home prices, already at historic lows, plummeted a further 35% during the past three years to a median of $40,000 as net migration out of the city continued. The latest blow was Tuesday’s...