Re:We’d rather have the iceberg than the ship
by only_as_i_fall on Friday July 23, 2021 @01:43PM
(#27933519)
In principle I agree, but I think that in many cases these developments are not well thought out.
Any time the housing values in an area significantly drop or the population largely leaves, what gets left behind is a poor and poorly maintained neighborhood that creates a ton of negative externalities for surrounding areas. When you build an entirely new development on undeveloped land this is almost guaranteed to happen as all of the buildings and infrastructure will need to be replaced at the same time.
Any time the housing values in an area significantly drop or the population largely leaves, what gets left behind is a poor and poorly maintained neighborhood that creates a ton of negative externalities for surrounding areas. When you build an entirely new development on undeveloped land this is almost guaranteed to happen as all of the buildings and infrastructure will need to be replaced at the same time.