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Compose a 500 words essay on Edgar Martins: Ruins of the second Gilded Age 2009. Needs to be plagiarism free!In my opinion, these projects would be better if they served as shelters.Edgar Martins, a P
Compose a 500 words essay on Edgar Martins: Ruins of the second Gilded Age 2009. Needs to be plagiarism free!
In my opinion, these projects would be better if they served as shelters.
Edgar Martins, a Portuguese photographer, worked from a commission by the New York Times magazine. His job was to provide evidence of the bust in real estate in California with no digital manipulation. These large constructions remained unfinished and abandoned when the market collapsed.
Martin provided evidence of more than just photos. The pictures portrayed occasional criminality, and economic and human damage left behind. According to Martin, the sudden budge in the economy uncovered such extremes. Martin openly explains, “People are present in these images, but not physically. You trace their action, the destruction they left behind” (Martin, 2009).
One of the projects was ‘Chateaux on Central’ in downtown, meant to comprise almost twenty-four luxury homes. The prices were to range between 2.8 and 4.5 million dollars. Unfortunately, the beginning of 2007 brought about a saturated condominium market. The flooded market resulted to reduced prices on the condors. Developers and PHX partners of the ‘Chateaux on Central’ declared bankruptcy. In Greenwich, there are luxury mansions that remain unsold because the developers did not find buyers for the properties. The prices dropped in half, but it seems unlikely that the homes will sell. It is unfortunate for the developers considering how much money they used to develop the property (Martin, 2009).
This continues all the way to Las Vegas with the Echelon complex put on a halt after the economic turndown. The shutdown happened in most of the projects around the city. Eight hundred construction employees found themselves jobless in 2008 and the unemployment rate that year increased by 11.3 percent. Dream homes in California that promised a planned community with manmade lakes seized after the developer defaulted on a number of loans. Unfortunately, people were living in the community when the
