Detroit Shrinking

The New York Times has a good story about it this morning. It reminds me of the Talking Heads song Nothing but Flowers:

Where, where is the town

Now, it’s nothing but flowers
The highways and cars
Were sacrificed for agriculture
I thought that we’d start over
But I guess I was wrong

Once there were parking lots
Now it’s a peaceful oasis
you got it, you got it

This was a Pizza Hut
Now it’s all covered with daisies
you got it, you got it

I miss the honky tonks,
Dairy Queens, and 7-Elevens
you got it, you got it

And as things fell apart
Nobody paid much attention
you got it, you got it

I dream of cherry pies,
Candy bars, and chocolate chip cookies
you got it, you got it

We used to microwave
Now we just eat nuts and berries
you got it, you got it

This was a discount store,
Now it’s turned into a cornfield
you got it, you got it

Don’t leave me stranded here
I can’t get used to this lifestyle

——

Detroit has not had the largest peak-to-trough decline in percentage terms among American large cities, although it is getting close.  Detroit has lost about 58 percent of its 1950 population; St. Louis has lost about 59 percent.  And Detroit’s population is much bigger than it was in 1900; St. Louis has lost about 30 percent of its population since 1900 (just prior to the 1904 World’s Fair, when 20 million people visited St. Louis).

About Richard K. Green 102 Articles

Affiliation: University of Southern California

Richard K. Green, Ph.D., is the Director of the USC Lusk Center for Real Estate. He holds the Lusk Chair in Real Estate and is Professor in the School of Policy, Planning, and Development and the Marshall School of Business at the University of Southern California.

Prior to joining the USC faculty, Dr. Green spent four years as the Oliver T. Carr, Jr., Chair of Real Estate Finance at The George Washington University School of Business. He was Director of the Center for Washington Area Studies and the Center for Real Estate and Urban Studies at that institution. Dr. Green also taught real estate finance and economics courses for 12 years at the University of Wisconsin-Madison, where he was Wangard Faculty Scholar and Chair of Real Estate and Urban Land Economics. He also has been principal economist and director of financial strategy and policy analysis at Freddie Mac.

His research addresses housing markets, housing policy, tax policy, transportation, mortgage finance and urban growth. He is a member of two academic journal editorial boards, and a reviewer for several others.

His work is published in a number of journals including the American Economic Review, Journal of Economic Perspectives, Journal of Real Estate Finance and Economics, Journal of Urban Economics, Land Economics, Regional Science and Urban Economics, Real Estate Economics, Housing Policy Debate, Journal of Housing Economics, and Urban Studies.

His book with Stephen Malpezzi, A Primer on U.S. Housing Markets and Housing Policy, is used at universities throughout the country. His work has been cited or he has been quoted in the New York Times, The Wall Street Journal, The Washington Post, the Christian Science Monitor, the Los Angeles Times, Newsweek and the Economist, as well as other outlets.

Dr. Green earned his Ph.D. and M.S. in economics from the University of Wisconsin-Madison. He earned his A.B. in economics from Harvard University.

Visit: Real Estate and Urban Economics Blog

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