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Old 03-27-2009, 05:19 PM   #21
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Houston went down around 26% for a couple years (I lived thru that) and then sloooooowly (like 20 years) it went back.
If a house now is $18K in Detroit and the house goes down another $4.5 = $13.5 for a house? Good golly, man, they are practically free!

Does anyone have any idea what the government will do if Detroit loses that many more people? I mean, they surely wouldn't just let the city sit there with it's boarded up windows would they? Surely, something has to be done with the city such as bringing in a new manufacturing plant or even using the land for government buildings. I just cannot fathom allowing a city to decay like that--I mean, it's a big plot of land Detroit is.
What happens in situations like Detroit has now with everything dead or dying?

I have old friends who live in various parts of Michigan, and the rest of the State seems pretty darn healthy, tho.
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Old 03-27-2009, 05:47 PM   #22
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Does anyone have any idea what the government will do if Detroit loses that many more people? I mean, they surely wouldn't just let the city sit there with it's boarded up windows would they?
What, you mean like New Orleans has been for the past three and a half years? Nahhhh... they'd never just let a city sit there, half empty, with boarded up windows...
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Old 03-27-2009, 06:00 PM   #23
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Looks like from 1990 to projected 2030, Detroit will have lost almost 21% of the population. I have been tuning out when they spoke about Detroit and the big automobile companies going down, but I see how alarming it is now. Now I'll be paying more attention.http://library.semcog.org/InmagicGen...OGForecast.pdf (Page 15 has the information)

As I have repeatedly said, Want2retire, New Orleans was my favorite city in America, and, if it hadn't been destroyed, I would have moved there for some time even with all the crime and filth. I lived there a short time, and just loved the city...warts and all. And, yes, there's little excuse for what they have allowed to happen to New Orleans. I'm with you there....and now they seem to be doing the same with Detroit. This is really...sadder than sad...and alarming.
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Old 03-27-2009, 09:30 PM   #24
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Detroit was the fourth largest city in the US with 2 million people in 1950. Now it is around 850,000 or so, 80+ percent black, per capita income around $15,000.
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Old 03-28-2009, 08:58 AM   #25
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I currently live in suburb of Detroit, have lived in Detroit, went to University in Detroit for 7 years, and have worked in Detroit. I truly see no hope for the city. I wouldn't accept a house there for free. Industry never branched out from automotive. No mass transit (squashed by BIG 3); riducously corrupt politicians; vacant automotive plants; consistenly near the worst in murders; poorly educated with college grad leaving the state at an alarming rate (no jobs); homes in my area have gone from $320,000 to $188,000, about 40%. With automotive white collar workers losing their jobs and leaving the state in addition to blue collar workers losing their $30/hr jobs to take $12/hr jobs the picture is bleak.

I am no expert on anything but I can certainly give you firsthand accounts as to what is going on here. My Dad lived through the 70's here and says the sentiment now is much worse. Of course in the 70's we did not have cable TV bills, cellphone bills, $2 H2O and coffee habits, 2500 sq. ft. homes, eat out more than a few times a YEAR, 2.5 vehicles per household, daycare bills...etc. I think we are headed back in many ways to these simpler times - and for the most part I welcome it. Then again, people never seem to learn. I'm very grateful for my job, my health, and for the great advice Ive received on this blog over the years.
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Old 03-28-2009, 10:12 AM   #26
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I currently live in suburb of Detroit, have lived in Detroit, went to University in Detroit for 7 years, and have worked in Detroit. I truly see no hope for the city. I wouldn't accept a house there for free. Industry never branched out from automotive. No mass transit (squashed by BIG 3); riducously corrupt politicians; vacant automotive plants; consistenly near the worst in murders; poorly educated with college grad leaving the state at an alarming rate (no jobs); homes in my area have gone from $320,000 to $188,000, about 40%. With automotive white collar workers losing their jobs and leaving the state in addition to blue collar workers losing their $30/hr jobs to take $12/hr jobs the picture is bleak.

I am no expert on anything but I can certainly give you firsthand accounts as to what is going on here. My Dad lived through the 70's here and says the sentiment now is much worse. Of course in the 70's we did not have cable TV bills, cellphone bills, $2 H2O and coffee habits, 2500 sq. ft. homes, eat out more than a few times a YEAR, 2.5 vehicles per household, daycare bills...etc. I think we are headed back in many ways to these simpler times - and for the most part I welcome it. Then again, people never seem to learn. I'm very grateful for my job, my health, and for the great advice Ive received on this blog over the years.
Thanks for your very informative post. Thinking about Detroit in the 70s it seems that the cars were truly terrible. That decade of fuel worries gave Big Three a challenge they had a lot of trouble with.

Now the cars are good, but it seems that maybe it is too late.

How much money has Detroit wasted on Urban Renewal Projects that just sit there full of everything but customers? Who wants to get killed just for a night on the town?

Ha
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Old 03-28-2009, 11:37 AM   #27
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This week's "Time" magazine just came last evening (3/27/09) in the mail, and there is a huge article on the sad condition and potentially sad future of Detroit FYI. Various ideas are being tossed about as to what to do with the city now, but the agreement seems to be that Detroit will never be back to the 2MM it had in the 1970's.
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Old 03-29-2009, 10:40 AM   #28
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Gee that sounds terrible...

I think I'll get in my POS Jap car and go to Wallmart and pick up some Chinese crap so I can do my part to "Stimulate" the economy
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Old 03-29-2009, 11:18 AM   #29
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[quote=Orchidflower;800697Amazingly, there are a number of retirement areas in Michigan. Who retires in Michigan? I guess alot of people.
It is a beautiful State in summer as we used to take short trips there in summer as a kid--where you could actually see your feet in the sand at the bottom of the lakes there! Clean and clear!
The NW corner of the State is ski country. Did you know that? Lots there.
I wish we had a Detroit or Michigan resident on this board to give us some straight poop on their State.[/quote]

I was born and raised (until age 16) in a suburb of Detroit, Warren. At that time (late 60's), it wasn't all that bad of a place to live. My family moved to northern Michigan after that, which is where I still live. We love it here, although the winters are a bit long for some folks (remedy for that is to head south for a few months each winter, which is what we plan to do when I retire). I still have relatives in the Detroit area, although most have moved out a little ways from the city now (Ann Arbor, places like that). The city of Detroit is indeed a mess right now. I don't think I could live there anymore, even if I was given a house. It's a different world up in northern Michigan where I live, though. Not many jobs, but if you are retired, it's a great place to live and recreate. Small houses in town here (town of 4,000) go for about $40,000 for a pretty nice, well-maintained 2-bedroom home. Less if you don't mind doing a little fix-up work. Crime is virtually non-existent. Beautiful lakes and forests. We have no plans to leave after retirement, other than a winter escape for a while each year.
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Old 03-29-2009, 12:20 PM   #30
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As I remember, last month Detroit's average home sale price was $7500.00.
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I couldn't live in Detroit....I'd freeze my tah tahs off....
I'd pay $7500 for an insurance policy against being forced to move anywhere with winter weather...
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Old 03-29-2009, 01:05 PM   #31
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NCAA Men's Final Four is coming up in Detroit next weekend. Maybe a lift for them?

Ha
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Old 03-29-2009, 01:42 PM   #32
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Me Mudder was born in Detroit(1916). Growing up I thought Michigan was a foreign country - til I got older went to UW and lived in Seattle - then I was informed all about 'refugee's from Minnesota' - and dirty blond jokes.

heh heh heh -
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Old 03-29-2009, 03:55 PM   #33
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Detroit. Isn't that the place that they are holding the Final Four next weekend? I wonder why they selected that place as a location?
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Old 03-29-2009, 03:57 PM   #34
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Detroit. Isn't that the place that they are holding the Final Four next weekend? I wonder why they selected that place as a location?
Farewell celebration?
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Old 03-29-2009, 04:16 PM   #35
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Seems like a good opportunity to get in on the ground floor of a slumlord career.
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