Housing Economics by Geoffrey Meen Kenneth Gibb Chris Leishman & Christian A. Nygaard

Author:Geoffrey Meen, Kenneth Gibb, Chris Leishman & Christian A. Nygaard
Language: eng
Format: epub
Publisher: Palgrave Macmillan UK, London

Cairncross estimates that the Bank collapse had a major impact on Glasgow building, leading to a severe depression (see Fig. 6.3). In addition, Worsdall (1989) reports that the bank failure:was a disastrous event for the building industry as the bank’s special interest had been the financing of builders and the encouragement of speculative development. In the winter following the collapse, 14,000 people applied for poor relief, which, taking dependants into account, meant that the number of destitute had reached the appalling figure of about 40,000. Architecturally, the results of the failure could long be seen in the form of many unfinished housing developments. (p. 10)

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