Posts Tagged ‘Detroit’

BOOK BIZ: A native son writes movingly about Detroit’s downfall

The fascinating story of Detroit’s rise and subsequent fall — and whatever the future holds for the city and its beleaguered residents — is something we’ll likely be analyzing for years to come. It’s stunning, really, when you think about the fact that at one point Detroit was the nation’s richest big city, and is […] [...]

TROTTER: What lessons can be learned from Detroit?

On July 18, Detroit became the largest American city to file for Chapter 9 bankruptcy. A city once having a population of some 1.8 million has whittled down to less than 700,000. What will happen to the pensions of its 20,000-plus retired public employees? There is for sure the distinct possibility they could be reduced […] [...]

U.S. housing prices still declining but at slower pace

Oxford real estate data firm FNC’s Residential Price Index(RPI) released Wednesday indicates that U.S. residential property values declined in December amid signs of continued improvement in the job market and economic growth. With sales of distressed properties comprising a large portion of overall home sales, prices on non-distressed sales continued to reflect the downward pressure […] [...]

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