Archive for the ‘real estate’ tag
Washington’s Abandoned Embassies #
I’d have never thought that this problem:
Over the past year, the District has fought to eliminate thousands of vacant buildings, sharply raising property taxes to force owners to sell, lease or occupy their real estate. But officials can exert no such pressure on more than a dozen derelict properties that have added a dose of blight to some of Washington’s grandest neighborhoods.
Each of the buildings served as an embassy or diplomatic residence for countries including Liberia and Malaysia, the Philippines and the Republic of Togo. Legally considered foreign soil in almost all cases, the buildings are exempt from property taxes and the fine print of the city’s building code.
(via Passport)
Archeology and Suburbs #
The Economist reports on a trend you’ll likely either find fascinating or disturbing:
Bloomington, a suburb of St George, has built a cul-de-sac around a huge boulder marked with petroglyphs—a model that will soon be followed by a developer near Salt Lake City. A site near Cortez, in Colorado, which is dotted with more than 200 Indian ruins, is being marketed as “America’s first archaeological development”: buyers can do their own excavations, but must bequeath what they find to a local museum. Perhaps the most extraordinary example is Mountain’s Edge, a half-built suburb near Las Vegas, where an ersatz archaeological dig has been incorporated into a park. Clearly, if a site lacks history there is a need to invent it.
Black Flight #
The Economist says black is the new white. At least as far as fleeing poorer urban neighborhoods in California is concerned.
Since 1990 the city’s black population has dropped by a quarter, from 488,000 to 364,000, even as the overall number of residents rose. The exodus is most noticeable in areas where blacks were once concentrated, such as Compton and Crenshaw. The population of the 35th congressional district, over which the old-fashioned race warrior Maxine Waters holds sway, is now less than one-third black. “It’s becoming hard to find black neighbourhoods,” says Dowell Myers, a demographer at the University of Southern California.
There is also the important point that this movement, like most movement affected by real estate prices, has stalled with the recent mortgage crisis.