I realize that this is an old blog. Most of the conversation seems to be about the inner city. What about downtown Detroit. What do you think caused its demise, my theory has been that the "White flight" and J.L Hudson's what do you all think.
Welcome to FR
D'oh! posted to myself!
Check out the link in post #73
The obvious answer is that the companies and people didn't like the treatment they were getting in Detroit so they left.
What didn't they like? I'd guess high taxes, high corruption, low delivery of city services and strangling regulations.
Nothing has changed, the current mayor gave his wife a luxury Lincoln SUV vehicle that had been donated for the city's use and then claimed racism when called on it. He then did exactly the same thing with a Cadillac SUV.
Would you risk your life savings investing in Detroit after seeing what liberals did to a once thriving and beautiful city?
The minute you buy one of those buildings or homes the Detroit city inspectors will descend on you with a list of demands for lead paint removal, building permits, demolition permits, unsightliness orders et al that will empty every dime in your pocket.
Unless you have almost unlimited funds and time to wait for honest conservative government it's much safer to invest elsewhere.
Downtown Detroit has made an amazing turn around - Lofts are opening up in old commercial buildings and there is construction and a population boom going on in downtown. The casinos are expanding, the old Book Cadillac is being refurbished into condos and the new Riverwalk is attracting hundreds of thousands.
The rest of the city is another story.