Tuesday, July 17, 2012

Hello Nanaimo? San Bernardino on the Line ― With Your Wake Up Call

From Price Tags: http://pricetags.wordpress.com/2012/07/17/suburban-notes-from-all-over/ San Bernadino, CA

A wave of bankruptcies
The bankruptcy of San Bernardino, population over 200,000, should not surprise anyone. In fact, as we look at it more closely, we can see that a city that has fully embraced the post-WW II development model, riding its boom to the inevitable bust. … San Bernardino is interesting, however, because it really is the first major city that seems to be imploding under its own weight. …

From all outside appearances, it seems that the business of San Bernardino — the apparent reason for it existing — was to build San Bernardino. A full 13 percent of the work force is still in construction, with much of the other employment coming in secondary, service industries (education, health care, etc…). The city was #11 on the list of Top 101 cities with the largest percentage of males in the construction and extraction occupations (#16 for females). City budgets still show huge revenue projections for permit fees, plan review fees and development impact fees.

Read more: http://bettercities.net/news-opinion/blogs/charles-marohn/18606/wave-bankruptcies

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