NewsMine — economy — united-states — 2007-jun-jul — Viewing Item

US cities moving to european model of rich center { June 2 2006 } Original Source Link: (May no longer be active)    http://www.democracynow.org/article.pl?sid=06/06/02/1414248 http://www.democracynow.org/article.pl?sid=06/06/02/1414248 Friday, June 2nd, 2006 How One of New York City's Biggest Landlords is Systematically Driving Out Thousands of Low-Income Residents Juan Gonzalez, Democracy Now! co-host and New York Daily News columnist. JUAN GONZALEZ: And older people, as well. So what’s happening is real estate speculators are realizing that the market is ripe to re-grab the inner cities and to, in essence, create urban America as more in the European models, where the middle and the upper classes live in the central cities and the poor live in the suburbs, on the Parisian model, for instance. The immigrants or the poor in Paris live in the suburbs, not in the city. And our city, as developed throughout the ‘50s and ‘60s, was basically the central city as being the place where the poor lived. And so now there is a concerted effort to recapture the cities and to displace and to move out the residents that are there. And why so many of the black and Latino political officials are now getting up in arms over this is because they also realize it has political significance, in terms of their political bases are now being dramatically changed as more and more upper-income people and upper middle class people are now replacing their original constituents. So I think that -- and the problem is that government policy, rather than try to assure affordable housing and a good mix of poor, working class and upper class within urban America, the policies that local governments are pursuing now are really to assist these landlords and developers in pushing people out and driving up prices. So I think that it's -- I do not believe that what's happening in New York City is an isolated situation. I actually believe it’s happening, and I’ve been receiving emails from people in other parts of the country, in Chicago and other places, in the Southside of Chicago and others, that the same thing is happening.

Bernanke warns of housing downturn woes { July 18 2007 } Bond yields see biggest jump in years { June 7 2007 } Company buybacks artificially inflate stocks { June 2007 } Dow plummets over 400 points { July 26 2007 } Dow shoots passed 14k then falls back { July 18 2007 } Economists say prices must go up { May 2007 } Fed rate fear based on higher bond yields { May 2007 } Florida and california have riskier real estate markets Housing foreclosures jumped 90 perc in year { May 2007 } Housing slump to weigh heavily economy { June 1 2007 } Miami condo glut pushes florida economy recession Most americans say economy is getting worse { June 19 2007 } Rising inflation fears slam stocks { May 2007 } Stocks plunge on mortgage bond conern { May 2007 } Trade gap hurt US economic growth { June 1 2007 } US cities moving to european model of rich center { June 2 2006 } Wheat prices hit record high { June 11 2007 } Files Listed: 17

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