Theme: Globalization and urban redevelopment.
Subject Article: "Rochester downtown building sells for $10 million."
Other Links: 1. "The Geography of Foreign Investment in Real Estate."
2. "Are Millennials Willing to Spend Most of Their Income on Housing?"
3. "Urban Decline in Rust-Belt Cities."
4. "Increasing spatial and economic polarization in America’s older industrial cities."
Postscript: The problem with eds and meds global neighborhoods in Buffalo:
Henry L. Taylor Jr. has focused much of his work on reviving East Side neighborhoods, from the area around Futures Academy – in the shadow of the Medical Campus, but hardly benefiting from it – to the Commodore Perry neighborhood now being eyed for transformation.
Globalization will continue to pop up in the damnedest places. But the benefits won't trickle down to the poor located in isolate neighborhoods. Tremendous wealth will reside cheek by jowl with tremendous poverty. Looking at Rust Belt cities in aggregate washes out the few places where wages and rents look quite similar to those of thriving global cities, which is why gentrification in shrinking cities strikes many as ironic (or simply unbelievable).