ARTICLE EXCERPT – (RLTV NOTE: For verification of the home prices, click here.)
The Great Depression has reached Detroit. The average price of a home is now $18,513 and unemployment has reached 21%, and it’s expected to get worse. Detroit is facing a crisis of epic proportions that officially puts Detroit statistically (and real term) on par with the great depression. Many readers of Tribble Ad Agency are advertising centric.. and due to the rash of layoffs within all Detroit Advertising firms has put the city on the map for the wrong reasons.
It has become the center of all that is wrong with America? and nothing of what is right.
For example, the crime rate has fallen?. because of lack of targets within the city. Meaning there is nothing left to steal. In fact, even the criminals don’t want to leave jail.
Heard confirmed that some offenders, notably those without homes of their own, were now expressing reluctance to leave jail when their sentences were done.
Home values have plummeted to levels not seen in 1/2 a century? and the 21% unemployment has in some cases been projected to double within 12 months if the auto industry totally collapses.
To make matters even worse, Detroit has superseded New Orleans as the “worst city” in America?. but New Orleans had a Hurricane they could assign blame to? Detroit has no such natural disaster crutch.
“It’s a depression – not a recession,” McDuell said, with the authority of someone who has lived through both. “It will get worse before it gets better.”
It’s a man-made disaster.
Read more at: http://www.tribbleagency.com/?p=3598
This is so sad and I fear that the whole country is heading in this horrible direction. I do not know what can be done to stop it either. The feds can not bail out everyone. I heard that even retailers are now wanting a bailout. I have to admit that I find all of this news very worrisome indeed.
This is so sad and I fear that the whole country is heading in this horrible direction. I do not know what can be done to stop it either. The feds can not bail out everyone. I heard that even retailers are now wanting a bailout. I have to admit that I find all of this news very worrisome indeed.
It’s heartbreaking to hear about how many families are at risk of losing their homes. Not all families refinanced because they wanted flashier cars or pay for their credit cards. I have read a few stories where the refinancing was necessary because they had to pay for health care and their home was their only asset. I hope we can all ride through this crisis peacefully and with hope.
It’s heartbreaking to hear about how many families are at risk of losing their homes. Not all families refinanced because they wanted flashier cars or pay for their credit cards. I have read a few stories where the refinancing was necessary because they had to pay for health care and their home was their only asset. I hope we can all ride through this crisis peacefully and with hope.
The economy has gone to hell in just a few short months. Something needs to be done. Why is Congress so keen on bailing out the financial institutions but couldn’t care less about the auto industry?
The economy has gone to hell in just a few short months. Something needs to be done. Why is Congress so keen on bailing out the financial institutions but couldn’t care less about the auto industry?