The increase in the number of unoccupied dwellings leads to the fact that in many U.S. cities, there were whole neighborhoods abandoned. We can say that this article — the modern "A Tale of Two Cities" Dickens.
Over the past decades, Las Vegas, as if sucked into the glittering Carnival of urbanization, was immersed in new construction and ongoing economic development. A Detroit earlier — support American industry, slowly hunched and covered with rust under the weight of an empty property. Now both of these cities gets tough.
Now Las Vegas already can compete with Detroit, rightfully earned the title of "the empty city" of America. In light of current events has been prepared by Forbes magazine ranking, which combines data on the level of unemployment areas in the segment sales of residential real estate and rental market in the 75 largest metropolitan areas. This rating was made on the basis of statistical information, the U.S. Census Bureau, published February 3 this year.
Every city in the list was evaluated separately by the level of unemployment and the leased premises, then on the basis of these indicators was compiled overall assessment.
|Rank||City (and suburbs)||The level of unemployment in the segment of rental properties,% (And the space occupied by the city for this indicator)||The level of unemployment in the residential real estate segment,% (And the space occupied by the city for this indicator)||Total score|
|15-16||Charlotte (Gastonia, Concord), North Carolina||14.7 (14)||3 (28)||21|
|15-16||Cincinnati (Ohio, Middletown), Kentucky.||9.8 (36)||4.3 (6)||21|
|14||Bakersfield, California.||14.7 (14)||3.1 (26)||20|
|13||Tampa (St. Petersburg, Clearwater), Florida.||15.6 (11)||3 (28)||19.5|
|12||Chicago (Naypervill, Joliet), Illinois.||11.8 (22)||3.7 (14)||18|
|11||Miami (Fort Lauderdale, Miami Beach), Florida.||13.1 (20)||3.6 (15)||17.5|
|9-10||Indianapolis, Indiana.||17.1 (6)||3.2 (23)||14.5|
|9-10||Jacksonville, Florida.||14.7 (14)||3.6 (15)||14.5|
|8||Kansas City, Missouri and Kansas.||15.2 (12)||3.6 (15)||13.5|
|7||Orlando, Florida.||12.3 (21)||7.3 (1)||11|
|6||Phoenix (Mesa, Scottsdale), Arizona.||19 (5)||3.6 (15)||10|
|5||Dayton, Ohio||21.7 (2)||3.6 (15)||8.5|
|4||Greensboro (Greensboro), NC||15 (13)||6.9 (2)||7.5|
|3||Atlanta (Sandy Springs, Marietta), GA||16.1 (8)||4.3 (6)||7|
|2||Detroit (Warren, Livonia), Michigan.||19.9 (3)||4 (10)||6.5|
|1||Las Vegas (Paradise), Nevada.||16 (9)||4.7 (3)||6|
Cities like Detroit and Dayton — victims of a long industrial decline in the United States. Others, such as Las Vegas and Atlanta, have been hit hard by the current crisis in the property market. Boston and New York City — one of the few islands of calm in the storm, and Honolulu shows the best results in the country in terms of number of unoccupied squares — 5.8% in the residential sector and only 0.5% in the rented sector.
However, the problem of empty blocks for the United States is becoming more urgent. At the moment, the national unemployment rate of the number of the leased property is 10.1%, compared with 9.6% last year. In the segment of residential real estate, he got up from 2.8% last year to 2.9% in 2009. Richmond, Virginia — the worst in terms of vacancy rental properties throughout the country (23.7%), and Orlando — residential real estate segment. Detroit and Las Vegas — show poor results in both categories. -Motor City (as the Americans call Detroit) shows a 19.9% level of unemployment in the segment of the leased property and 4% in residential and Sin City (Las Vegas) — 16% and 4% levels of th respectively.
"This is a nightmare at the moment is not at all no construction", — says the developer from Las Vegas Lawrence Hellier, who knows this firsthand. Its $ 600 millionth Panorama Towers complex three years ago, won international acclaim. All the apartments in the first of four planned residential skyscrapers they were sold out in six months, in the second, completed in 2007 — for 12 weeks. Last fall, when the construction of the third tower of the complex came to an end, Mr Hellier has already sold 92% of its facilities. Then followed the recession, which has made tough adjustments to his plans. Only half of the transaction has been completed, and, according to him, now he will need a few years in which to "get out of the minus", and plans to build a fourth skyscraper to be postponed indefinitely.
There are other developers in Vegas, which is also strongly affected by the crisis. In 2007, the Israeli billionaire Yitzhak Tshuva and his partner Nights Dankner paid $ 1.25 billion for the purchase of 140 thousand square meters. m of land in a Vegas entertainment quarter. On this part of plans to build a mega-casino designed in the likeness of a New York hotel "Plaza" cost of $ 8 billion in November, the price of the acquired land has been halved to $ 650 million up ceremony for the grand project has been delayed until 2010.
Turmoil developers of the "Plaza" is very symbolic and characteristic million owners in Las Vegas and the United States as a whole. This illustrative example explains much of the roots of the crisis in the U.S. residential real estate segment.
During the housing boom, while property prices are steadily creeping up, consumers take major loans in the hope that the value of real estate acquired by them will increase. But, contrary to the hopes, the price of housing has fallen dramatically, especially in Las Vegas, Florida and Phoenix, where a building boom has led to excess supply, and the number of issued high-risk loans exceeded all acceptable norms. As a result, many owners suddenly found that the amount of mortgage loans made by them many times greater than the value of their homes. In some of the most severe, cases, banks that issued the mortgage, the borrower had alienated the property, leaving them homeless and with a debt in excess of the amount originally taken by them credit.
Of course, the situation in Las Vegas is quite heavy, but it pales in comparison with the problems of Detroit. Although the vacancy rate in Detroit at the moment and is lower than in Sin City, the first to suffer from an abundance of unoccupied rooms for a long time. The population of this boomtown, grew rapidly during the first half of the XX century. In 1900 it amounted to 285 thousand people, in 1920 — 990 thousand, and in 1950 reached its peak and was 1.8 million.
But since the sixties, in the demographic picture of Detroit has been a sharp decline. At the moment, the city's population is 900,000 people, and many of its areas gradually declining. Most experts blame in this situation the rapid development of the suburbs, the transfer of work outsourced manufacturing and federal social programs that, in their opinion, have aggravated the situation, contributing to a culture of idleness and dependency.
And now, half a century of countless scientists, politicians, developers and non-profit organizations are struggling unsuccessfully to solve the problems of the city. Share to Las Vegas his sad fate?
"I do not think that Las Vegas is suffering from over-development, we should not forget that it is home to two million people," — said Lawrence Hellier.
Time will tell whether this optimism is justified. Those who have seen the fall of Detroit, when they hear the comments of Mr. Helliera involuntarily recall another piece of Charles Dickens — "Great Expectations."
Author: Zack O'Malley Greenburg (
America: The abandoned city of Detroit (photo and video)
Detroit, in his best days was the industrial capital of the twentieth century, playing a fundamental role in shaping the modern world. Over the past decade, much has changed there. Ruins become a natural part of the urban landscape. Detroit filled mummified building, which can be compared to a luxury ruins of ancient civilizations (Egyptian pyramids, Roman Coliseum or the Athenian Acropolis).
How it all began … well back in 1913, the car manufacturer Henry Ford launched the first large-scale assembly line. Detroit became the capital of engineering, there appeared a rich, luxurious large-scale skyscrapers were built, the city was an example of the desired "American Dream."
Thousands of people come here looking for work. And by the 50th year the city's population has reached almost 2 million people. Detroit ranked fourth among the largest cities in the United States.
The selection you will see the abandoned schools, libraries, theaters, hotels, dental offices, automobile factories, homes, luxury HOTELS.
Video: abandoned Detroit