detroit

what exactly happened to detroit michigan? it used to be a booming city, then in 2008 the economy took a shit and the big 3 automakers took a hit as well and alot of jobs were lost. i understand that but, with the rise in the big 3 making a comeback why is detroit not making a comeback? i ran across this picture the other day, and it kinda made me cringe.
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with the prices of land, houses, and other things why isnt america trying to make it booming again?
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and correct me if im wrong, but isnt that central station??

 

oh, i didnt know it was a long time coming. its just sad to see such a gret city fall to grace. if the chinese buy it all up, wouldnt that hurt their economy

 

Detroit: America is really good at buying stuff and not as good at making stuff.

That and the overall decline of traditional big industry in the US as a whole.

 

no, chinas.

 

Relevant: Shinola – Where American is Made | Shinola.com

 

Cool stuff, but hipster boutiques selling $1k leather backpacks don't count.

 

I still want one of those watches.

 

Ralphie, somewhere here on TFP there are some very good explanations regarding Detroits decline. I think that Street Pattern and GrumpyOldDude posted a few comments. I'll try a search, be back in a minute.

EDIT--The thread would be on the very last page.
Detroit files for bankruptcy | The TFP

 

I really just think that it got too big and couldn't handle the competition from better cities in terms of climate, 'newness', and tax rates. And you have the race issue. Both locally where the white people fled to the suburbs and setup their own towns with their own tax rates to get away from the financial expenditures of the city of Detroit. But also the crime, attitudes, and income class.

How to fix Detroit is a big issue that is very complex. But, a lot of places need to be torn down and let return to nature, or rebuilt as new efficient housing or businesses. And it really has to be small local businesses, not just more franchise chains. And they need to start getting people to visit the city and stay a while. The auto show is next week and is a good thing to go to.

 

and correct me if im wrong, but isnt that central station??
Damn @ralphie250, that image of central station makes me ill. it looks like some movie of the apocolyps . hard to believe thats the real Detroit.
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Oh and let me say this...FUCK THE CHINESE! America needs to fix this....always looking to clean up our neighbors without cleaning our own back yard first. we are owners of all the rescources to fix this real life problem and we also OWN THIS PROBLEM. Don't even get me fucking started.

 

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Think thats bad, this is the pontiac silverdome, what used to be the home of the detroit lions

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one would think that corruption is a better way, but this makes me think the opposite.
what is happening to the taxes that are being paid if detroit is bankrupt?

 

Note that the Pontiac Silverdome is in Pontiac, which is about 20 miles from Detroit. A whole other set of problems apply there, including (1) questionable subsidy for a professional football team, from a town that could ill afford it, and (2) poor quality construction from the outset.

I don't follow this. What are you saying?

Taxes are still being paid, city employees are still being paid, buses are still running, water is still flowing, etc. "Bankrupt" doesn't mean insolvent. Bankruptcy is a process for a person or organization to get out from under an impossible debt load.

The problem is that the city doesn't collect enough taxes to sustain all the things a city that size minimally needs to do. As a result, the city got farther and farther behind, and owes more than it could possibly pay back now.

Also, a previous mayor made a disastrous financial deal that saddled the city with a colossal piece of debt at a high interest rate.

When it went into bankruptcy, the city owed more money than the total value of all of the city's taxable real estate.

In other words, theoretically, the city could seize all privately owned properties with a 100% property tax, turn it over to the creditors, and still be in debt. There was not enough value left in the city to pay off the debt it had.

 

Street pattern, I always appreciate your insight and what you have to offer. But your expertise here really takes the cake. When you look at the ribbon districting you can see how asinine it is. But how many people have ever been shown that? So thanks for your information contribution to this thread.

 

Yes, thank you very much for all this information.
Especially about the ribbon districting, that is mind boggling.
I have read so many conservative commentaries about how Detroit is a perfect example of liberals destroying a major city and you've done a great job of showing how it's much more complicated than left or right.