AgentMarkets & Economy

Forced relocation takes bite out of blight

Rezoning residential areas could fuel cities' rebirth
Published on Dec 30, 2009

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by CareyBot

A number of older East Coast and Midwest cities have experienced severely declining populations as traditional industries close down or move elsewhere around the globe.

In so many ways, the loss of residents sits heavily on those who stay on, from a decline in services and educational opportunities for children to diminished tax rolls and boarded-up stores.

It doesn't matter if you have a good job with high pay in a city that has been in decline -- it will still be a burden to your pocketbook because the value of your home has probably peaked and in some cities like Detroit, has been dramatically slashed.

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