Monday, August 11, 2014

Bankrupt Detroit

The crumbling city has gone into bankruptcy since the last time I visited and driving through the residential streets and the downtown commercial area always provides for an eye-opening visit. The Motor City filed for Chapter 9 bankruptcy in July of 2013 - America's largest declaration at approximately $20 billion dollars.

About 30% of buildings are in decay (almost 80,000 of them) and need to be demolished. Reducing residential and commercial/industrial buildings to an empty lot would cost approximately $2 billion dollars - hard to come up in bankruptcy. The latest controversy has come to light when the city goes to shut off delinquent water customers, but only half of those shut off don't fight shut off so many believe these locations are home to illegal squatters.

Posted by James and Ann Hamilton. See more of the desolation after the jump.

The Detroit Monorail

There was a cute Car Fox blow up character along the side of the road

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