Your Economy OT - Conspiracy, Politics, Religion, Terrorism, War

[Ayock]

The demographic of cities was the subject

of a great book I enjoyed in the mid '70s...

https://www.amazon.com/Unheavenly-City-Revisited-Edward-Banfield/dp/0881335290

It has been "revisited" with an update but the theme is similar. The cycle of who lives in/out of the central city core is an amoebic live organism. The phase we're in these days sees millennials favoring the inner city for goods, services, entertainment and ease of public transportation (read: no car). The service industry low wage employees are being driven out of the inner city by escalating costs of living affordable only by "big" incomes and high levels of disposable income.

The theory predicts that at some point in the economic cycle matured now ex-millennials (or whatever label you want for newly minted professionals) will opt for the tranquility of the burbs leaving a hole in the residential properties on the fringes of the inner city. Those holes will slowly be repopulated by the low income service industry folks who can now afford the lowered competition for living space and be closer to their job opportunities... The cycle can take years or even decades to complete as generations roll thru the population demographic.

The inner city boom/bust chart of living costs slowly increases with higher lows and higher highs based on the desirability of the local and the influx of new potential citizens.