Economic Systems

The General System of Minneapolis: Foreclosures

By Matt Johnson

I have touched on the general behaviors of the Minneapolis General System, but I have not delved into great detail on the subject matter nor have I given the general system its due attention. On the other hand, I have discussed some systems behaviors in the 2nd, 4th, 5th, 10th, and 12th Wards of Minneapolis. More specifically,  I discussed the 4th and 5th Wards in the greatest detail compared to the other wards.

In this short article, I will begin an analysis of the general, and simple, behaviors of the general system of Minneapolis starting with foreclosures. This is important and necessary because I want to show that there are differences or similarities in behaviors between various subsystems in Minneapolis and the general system of Minneapolis itself.

Figure 1

Figure 1

As we can see in Figure 1, foreclosures in Minneapolis have been decreasing since they peaked near 900 properties in early 2008. In fact, foreclosures have decreased by almost 9 times. And with the exception of the spike in 2010, foreclosures have dropped down to near 100 properties for the City of Minneapolis in the 2nd Quarter of 2015.

Clearly that’s quite a recovery and a step, if not two or three steps, in the right direction. It’s something that isn’t necessarily pointed out or focused on in the press or social media, at least from this perspective. And to be honest and forthright, the economic positives have not been discussed very much here on Urban Dynamics. But this author digresses.

Now, this graph only provides us with a single perspective of the system, but it provides us with a piece of the picture nonetheless. And from this narrow perspective, we can still speculate, infer, and make predictions that there are other positive things happening in the general system and we should expect other positive things to happen in accordance with a reduction in foreclosures.

But we should ask ourselves a question before we analyze and address other general system’s patterns, “Do the foreclosure behaviors of the different Minneapolis wards mimic or reflect the behavior of the general Minneapolis system?” In other words, will the behavior of the 5th Ward in North Minneapolis or the 2nd Ward in Southeast Minneapolis, for example, be similar to the general system’s behavior of Minneapolis? And if they aren’t the same, what does it mean? Food for thought!

For further reading on similar subject matter, I invite you to read Foreclosure Rates: Wards 2, 4, and 5 from 2006 to 2015 to view foreclosure patterns and compare. Are the foreclosure patterns different or similar? And I invite you to read Urban Decay and North Minneapolis.

Remember, you are always welcome to post your comments, thoughts, and questions below. Feedback is always appreciated.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s