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Richard Florida: Rust Belt Cities will be Hardest Hit by Economic Collapse

14 February 2009 No Comment

Famed urban scholar Richard Florida writes in The Atlantic that the economic crisis will drastically reshape America, dividing cities into winners and losers. Not surprisingly Florida writes, Rust Belt cities, those with economies traditionally based on manufacturing, will be among the hardest hit.

Detroit, he postulates, could reach a tipping point and become a “ghost town.” Although, he says, the exodus could attract some of the “creative class,” (which he extols the virtues of in his book “Who’s Your City?”) seeking to take advantage of low real estate prices. Sun Belt cities, whose economies have been fueled by real estate speculation, will also suffer, he predicts.

None of this is news if you’re living in Detroit, or Cleveland, or Buffalo. (He does mention Pittsburgh has made some gains in developing itself as a high-tech center, but notes that it’s still losing population.) Nevertheless, it’s interesting to consider how the economic upheaval will reshape the country and look at what advantages Florida’s winning cities have.

http://www.theatlantic.com/doc/print/200903/meltdown-geography

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