Tim Harford:
It is possible for a neighbourhood to become a victim of its own success. Low rents attract artists, new businesses, experimenters and risk-takers. The neighbourhood becomes cool; rents rise. Eventually only middle-aged, middle-class squares live there. (Or – gasp! – rich foreigners.) But it is hard to see this applying across an entire city. Some fret that Manhattan is becoming a bore. It still seems passably diverting to this tourist, and even if Manhattan is tedious, Brooklyn is picking up the slack. As in New York, so in London: if Shoreditch becomes too pricey for bearded hipsters making artisanal pickles, there’s always Bow or Clapton Pond.
Interesting speculation on the future of London.
(via boing boing)