Detroit Bankrupt

[Account Closed]

My dad just sent me this link.

http://theextinctionprotocol.wordpress.com/2013/07/18/motor-city-goes-bust-largest-ever-municipal-bankruptcy-in-u-s-history/

What do you all think about the REI market in Detroit after hearing about this?

[Jon Holdman]

For starters, the $500. Then being on the hook for taxes and other liens.

Here's the elephant that's stomping on Detroit: The city once has 1.8 million residents. It now has 700,000. That means it has enough housing units to hold 1,800,000 but need only enough for 700,000. That means that many of the housing units in Detroit are completely unnecessary. The right answer is for these to be razed. Not just individual houses or buildings (there are MANY totally abandoned and totally useless auto factory buildings right in Detroit) but entire neighborhoods. People need to be concentrated toward the core of Detroit so large swaths of land can be abandoned. Not just houses, but streets, electric lines, water and sewers - everything. Otherwise, the city is stuck providing services to an area three times larger than is needed. That's a burden that must somehow be shed.