Quote:
Originally Posted by galleyfox
I think the financial crisis and the pandemic affected completely different parts of cities.
The financial crisis wiped out a ton of regular residential neighborhoods. Families lost jobs, lost their houses, properties fell into foreclosure and were often abandoned and demolished.
The pandemic mostly affected downtown offices and mid day retail venues, but most of the families in neighborhoods are doing better than ever with a good job market.
I think the former left deeper scars, while the latter is mostly about how banks and large developers would prefer to restructure their properties.
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+1
As a fellow Chicagoan, this totally aligns with perspective on the windy city.
Maybe these dynamics played out a little differently in less hyper-centralized cities?