When Does Distressed Detroit Turn Around? (Videos and Info)

12/28/2010: Detroit area deleveraging and pension losses continue. Where is the bottom on Detroit's chart? Also check out the videos I embedded below.

*Detroit on time with annual audit (NPR Michigan Public Radio)

*Detroit Files CAFR On Time (Bond Buyers)

Michigan Town (Hamtramck) Is Left Pleading for Bankruptcy (New York Times)

Hamtramck manager: We'll pursue bankruptcy until 'door is shut, locked, barricaded, bolted' (mLive)

Detroit pension fund spends $30 million to fix $1-million building (Detroit Free Press)

Risky bets cost Detroit pension funds $480 million (Detroit Free Press)

A&P wants to terminate 21 retail leases in metro Detroit, bankruptcy filing shows (Craines Detroit)

Detroit Water and Sewer Revenue Bonds Are Downgraded by Moody’s (BusinessWeek)

Detroit Mayor Plans to Halt Garbage Pickup, Police Patrols in 20% of City; Expect Bankruptcy, Massive Municipal Bond Turmoil in 2011 - (Global Economic Analysis by Mish)

Michigan budget may fall short by $1.85B in 2011-12 (Detroit News)

Recent Detroit Housing Info

October S&P Case Shiller Home Price Index: 68.86, -2.5% over September 2010 and -5% over last year. "An October index level of 68.86 in Detroit indicates that average home prices are more than 30% below their January 2000 values." (December 28 press release Standardandpoors.com)

Detroit home sales decline leads slumping Metro area (Detroit News)

I came across the FNC Inc. Residential Price Index. It says October Detroit home prices hit 78.2, +1.9% over September 2010 and unchanged over last year. Never heard of it.

India (Tata Technologies) looking to hire 400 employees in Detroit. CNN Video after the jump from 12/10/2010 and more.



Source: http://news.blogs.cnn.com/2010/12/10/india-looking-to-hire-in-detroit/

Detroit's October unemployment rate stood at 13.8%, -0.1% month/month, -2.3% year/year (according to Department of Numbers, see chart and tables). Also see Detroit Home Affordability (price-to-income) data. Detroit's next step to combat blight: buy and rehab vacant homes (Christian Science Monitor) Beyond The Motor City (2/8/2010): A PBS Documentary on Detroit, a new transit system and U.S. infrastructure. Part of 'Blueprint America'). They looked at the AVE high speed train in Spain which is amazing. I've been on it. They said Cordoba, Spain grew because of the train. Bill Gates, Detroit could use some dough for a public/private partnership.


Watch the full episode. See more Blueprint America.


Source: http://www.pbs.org/wnet/blueprintamerica/reports/beyond-the-motor-city/video/939/

If you have interesting articles on Detroit link them in the comment section. Related post: Distressed Detroit (December 2008 Analysis)

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