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Are Jerusalem's Ghost Towns A Problem To Solve?

Posted by: Nate Berg

15 December 2007 - 11:00am

Jerusalem has an increasing number of "ghost town" neighborhoods, where tourist housing has left areas empty for much of the year. This article looks at the proposed solution to this problem, and wonders whether there is even a problem at all.

"It is claimed that as a result of the demand for tourist apartments, entire neighborhoods are empty for most of the year. A number of reporters referred to these neighborhoods as 'ghost towns.' The proposed remedy: encouraging more young people to move to the city center."

"This is truly Yogi Berra reasoning. There can indeed be a 'ghost town' phenomenon whereby property values are not realized because no one wants to live in an empty neighborhood. If a few bellwethers can be drawn there, perhaps by subsidies, others will follow. But these articles don't explain exactly who is suffering from the supposed 'ghost towns' of Mamilla and Rehavia."

"They're certainly not empty because the neighborhoods are unattractive. (They never seem empty to me at all - especially when I'm looking for a parking space. The claim here is in effect: 'Nobody wants Jerusalem apartments anymore, they're too expensive.'"

Full Story: Ethics @ Work: Jerusalem: The world's fastest growing ghost town
Source: The Jerusalem Post, December 14, 2007
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