Friday, June 14, 2013

Priced out of Paris - By Simon Kuper

http://www.ft.com/intl/cms/s/2/a096d1d0-d2ec-11e2-aac2-00144feab7de.html#axzz2WGRrGW3P

There is a wider story here. The great global cities – notably New York, London, Singapore, Hong Kong and Paris – are unprecedentedly desirable. At last week’s fascinating New Cities Summit in São Paulo, the architect Daniel Libeskind said: “We live in a time of renaissance … cities are coming back to life, after a long neglect.” Edward Luce chronicled the urban revival in last Saturday’s FT Magazine. However, there’s an iron law of 21st-century life: when something is desirable, the “one per cent” grabs it. The great cities are becoming elite citadels. This is terrifying for everyone else.

“The capture by a very small number of cities of a lot of the excitement and wealth produced by the system – this is a problem.” Outside these hubs, things are less desirable. Most western cities have lost manufacturing. Market towns struggle as small-scale agriculture fades. A few secondary cities (Lyon, Denver, Bristol) thrive. Most don’t. Even cities as prominent as São Paulo, Moscow or Johannesburg may prove too violent or congested to succeed. “You also have cities that simply die – Detroit,” adds Sassen. But if they’re out in the sticks, nobody powerful will hear them scream.