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Detroit may spend $800 million to tear down homes

May 28, 2014 by Jeff (ILoveCapitalism)

This goes to the essence of mainstream economic theory: Spend money to build houses, spend money to tear them down, spend money to build them, spend money to tear them down…and let it all be counted in the GDP numbers as “growth” and “jobs”:

One of the question haunting Detroit, as it works to extricate itself from bankruptcy, is how to address the reality of the city’s shrinking population…Today, a much-anticipated report from the city’s Blight Removal Task Force says that more than one in five structures is in some state of disrepair—and that about half of these should be torn down immediately…

It can take as little as three hours to demolish a house, but the process can be more consuming if properties contain asbestos or lead, thereby requiring extra care. Tearing down homes by the tens of thousands, which hasn’t been done before, could cost about $800 million, the report says. While the city has already obtained some blight-reduction funding from federal and state sources, it still needs at least a further $400 million. (That doesn’t include the additional $1 billion or so Detroit will need to address commercial and industrial eyesores.)

It’s astounding that, in a nation where homes are unaffordable for many people and the home ownership rate is declining, Detroit is still so unlivable and badly-run a place that they have vast numbers of homes to tear down.

Filed Under: Big Government Follies, Liberalism Run Amok, Socialism in America Tagged With: Big Government Follies, detroit bankrupt, detroit tearing down homes, Liberalism Run Amok, Socialism in America

Something is rotten in the city of Detroit

June 22, 2013 by Jeff (ILoveCapitalism)

Detroit, a city run by liberal Democrats for generations, continues to struggle. A post at the Economic Collapse Blog reminds us of just how far it’s fallen. Here’s a small teaser:

The following are some facts about Detroit that are absolutely mind-blowing…

1 – Detroit was once the fourth-largest city in the United States, and in 1960 Detroit had the highest per-capita income in the entire nation.

2 – Over the past 60 years, the population of Detroit has fallen by 63 percent.

[…]
14 – The murder rate in Detroit is 11 times higher than it is in New York City.

15 – Crime has gotten so bad in Detroit that even the police are telling people to “enter Detroit at your own risk”.
[…]

It has links; RTWT.

UPDATE: State-level government also affects our lives. It’s worthwhile to look at freedom in the 50 States.

The index ranks the States for both personal and economic freedom and produces composite rankings. Guess what? Michigan is in the lower third. New Jersey, California and New York are dead last. Is Detroit the future of NYC and Los Angeles?

Filed Under: Big Government Follies, Liberalism Run Amok Tagged With: Big Government Follies, detroit, detroit bankrupt, Liberalism Run Amok

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