Two Detroits, headed in two different directions

Oct 8, 2015 at 1:56 pm

An interesting article
is running on the Atlantic's CityLab site. It's titled "Is Detroit really rebounding?" and it explores the latest post-bankruptcy statistics from the Pew Charitable Trusts.

It turns out that some of the statistics are sunny indeed. But it also shows that, in some parts of Detroit, things are getting worse, not better. The article's centerpiece is a quote from Southwest Housing Solutions' Timothy Thorland, who says:

The specific challenges in Detroit’s housing market are certainly not uncommon circumstances in cities all across the country. Whether it be vacancy, abandonment, low valuations, aged housing stock, constrained resources, lack of mortgage product, lack of access to capital, high property tax, high insurance premiums or the like, what makes it nearly catastrophic is the unique combination of scale and acuteness. The Detroit market is dealing with all of these issues simultaneously.

Have a look at the article by clicking here.