Initial report from Detroit emergency manager shows the city with $162M negative cash flow

  • Posted by a hidden member.
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    May 13, 2013 11:46 AM GMT
    http://www.washingtonpost.com/business/initial-report-from-detroit-emergency-manager-shows-the-city-with-162m-negative-cash-flow/2013/05/13/dd7f5ae0-bb95-11e2-b537-ab47f0325f7c_story.html
  • conservativej...

    Posts: 2465

    May 13, 2013 5:37 PM GMT
    Ah, a redlined city. :-) Such remarkable accomplishment from its citizens.
  • psycsnacha

    Posts: 161

    May 14, 2013 12:45 AM GMT
    Tremendous investment opportunity here. I predict the gentrification will be insane. Someone loan me a few million
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    May 14, 2013 2:30 AM GMT
    psycsnacha saidTremendous investment opportunity here. I predict the gentrification will be insane. Someone loan me a few million
    The city has been in decline for decades. It'll be interesting to watch if they are able to stem the exodus of residents as a first step. I've heard you can get a house for as little as a couple thousand bucks.
  • psycsnacha

    Posts: 161

    May 14, 2013 5:04 AM GMT
    Many cities are reinvigorating their downtown spaces with much success (per my limited reading). Just browsing through pics of Detroit architecture spurs the imagination. They can't stem the efflux, it seems complete, but given the wealth within the surrounding suburbs, there's tremendous potential to stimulate a massive influx into Detroit proper. I saw a documentary recently (Detroipia) that mentioned the mayor's attempt to consolidate the city's mostly urban poor into a few dense neighborhoods in order to make available the many vacant lots for redevelopment. Consolidating the poor is a failed social experiment (evidence of this abounds within NYC), however given that the architecture of the city is old and could be easily rebranded as "classic," the potential for massive urban renewal is there.
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    May 14, 2013 12:30 PM GMT
    psycsnacha saidMany cities are reinvigorating their downtown spaces with much success (per my limited reading). Just browsing through pics of Detroit architecture spurs the imagination. They can't stem the efflux, it seems complete, but given the wealth within the surrounding suburbs, there's tremendous potential to stimulate a massive influx into Detroit proper. I saw a documentary recently (Detroipia) that mentioned the mayor's attempt to consolidate the city's mostly urban poor into a few dense neighborhoods in order to make available the many vacant lots for redevelopment. Consolidating the poor is a failed social experiment (evidence of this abounds within NYC), however given that the architecture of the city is old and could be easily rebranded as "classic," the potential for massive urban renewal is there.


    Agreed! You can buy some really good stock in decent neighborhoods for like 12-25K.
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    May 14, 2013 2:53 PM GMT
    psycsnacha saidTremendous investment opportunity here. I predict the gentrification will be insane. Someone loan me a few million



    Google Dan Gilbert and you will see the kinda value that is DET currently. That guy has bought tons of buildings( and is fixing them up and filling them to capacity)....... at prices only in a New Yorkers etc wet dream. icon_lol.gif every week it seems a old skyscraper is being renovated to a hotel or lofts or apts etc.
  • psycsnacha

    Posts: 161

    May 14, 2013 3:07 PM GMT
    lookinforcars101 said
    psycsnacha saidTremendous investment opportunity here. I predict the gentrification will be insane. Someone loan me a few million



    Google Dan Gilbert and you will see the kinda value that is DET currently. That guy has bought tons of buildings( and is fixing them up and filling them to capacity)....... at prices only in a New Yorkers etc wet dream. icon_lol.gif every week it seems a old skyscraper is being renovated to a hotel or lofts or apts etc.


    I've read. I wish I was mid/late career right now. I'd buy into Detroit by the block.
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    May 14, 2013 3:39 PM GMT
    Im highly debating on moving into the city, mostly because I want an old commercial property/ Firehouse etc to fixup/ live in..... we shall see.
  • metta

    Posts: 39090

    May 14, 2013 4:00 PM GMT


    I don't know how they made it last this long....


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