http://www.contrarianprofits.com/articles/ruinous-debt-to-create-futureless-suburbia/20732 Access market-beating ideas from the world's top investment gurus on stock market investing, the gold market, ETFs, Forex trading and real estate values. Tue, 18 May 2010 05:09:46 -0500 http://wordpress.org/?v=2.8.5 hourly 1 http://www.contrarianprofits.com/articles/ruinous-debt-to-create-futureless-suburbia/20732/comment-page-1#comment-73030 Mark Sun, 27 Sep 2009 04:56:43 +0000 http://www.contrarianprofits.com/?p=20732#comment-73030 A good overview of the economic and financial landscape that made suburbanization run wild since the '40s. But a complete discussion needs to include the social changes that fueled the fire: 1) the impovershment of urban blacks who whose jobs were displaced by returning GI's after the war; 2) the resulting growth in urban crime and racial unrest; 3) the diseconomies of scale of large (often corrupt) city governments managing basic municipal services; and, to a lesser extent. 4) the desire of Italian and Eastern European Catholic immigrants and their children to emmulate wealthier WASPs who posessed country houses. One might say that it was the perfect storm. In a twist of irony, one might also say that the same mortgage boom that bankrolled McMansions on Cherry St enabled NYC to become so livable one again. Ralph gets that last laugh. A good overview of the economic and financial landscape that made suburbanization run wild since the ’40s. But a complete discussion needs to include the social changes that fueled the fire: 1) the impovershment of urban blacks who whose jobs were displaced by returning GI’s after the war; 2) the resulting growth in urban crime and racial unrest; 3) the diseconomies of scale of large (often corrupt) city governments managing basic municipal services; and, to a lesser extent. 4) the desire of Italian and Eastern European Catholic immigrants and their children to emmulate wealthier WASPs who posessed country houses. One might say that it was the perfect storm. In a twist of irony, one might also say that the same mortgage boom that bankrolled McMansions on Cherry St enabled NYC to become so livable one again. Ralph gets that last laugh.

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