Tag Archives: autoindustry

Detroit: imploding city

While I knew things were rough in Detroit, this story, Volume of abandoned homes ‘absolutely terrifying’ (from DetroitNews.com), gives you a context of just how incredibly bad it is. Two take aways from that story. First, this statistic:

Since 2005, more than 1-in-3 Detroit properties have been foreclosed because of mortgage defaults or unpaid taxes

Two, this map of foreclosures:

The situation is terrible, but the story is worth reading and the visuals (e.g. a bigger view of that map) really illustrate the damage. Worth reading, especially if you have recently read some pieces, as I have, of good news coming out of Detroit.