Sunday, July 03, 2011

The Beachwood Reporter - Foreclosure City: Our Tsunami

The Beachwood Reporter - Foreclosure City: Our Tsunami:

From Steve Rhodes column: Foreclosure City: Our Tsunami. This is an epic change coming and I don't see how these neigborhoods get rebuilt. At least within the next decade.
"I'm reminded of a comment I posted to Rich Miller's Capitol Fax Blog after Miller (and others) expressed disbelief about the latest census figures showing the city lost about 200,000 people - 180,000 of them black - in the last 10 years:

'As a 20-year resident of Chicago, I can say that in the last decade it has become very expensive to live here, and as downtown has been glossed up, certain neighborhoods have gentrified while others have emptied out. Vast stretches of the South and West Sides are wastelands. It wouldn't have come as such a shock if the media had been paying attention and not distracted by the glitz.'"

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