Detroit, R.I.P.

 

Two pieces illustrate the sad fate of my home town of Detroit. Reuters reports on the auction of houses and vacant lots in Detroit. Some are being snapped up by speculators, but many others seem to attract no buyers at all. Detroit was once America’s premier homeowner city. Now land in much of the city is literally worthless.
 
Unfortunately, some people like the young would-be buyer in the Reuters piece, are looking for government to come to their aid. And, as this Detroit Free Press article makes clear, that’s not very likely. Detroit is a premier example of what happens when ordinary people depend on big units—big government, big business, big labor—for their sustenance, and when the leaders of those big units ignore the economic reality that you’ve got to produce things customers will value. General Motors and Chrysler have gone through bankruptcy and are now largely owned by the government and the United Auto Workers, and there’s not much hope for those left behind.  

 

Beltway ConfidentialUS

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Plummeting Bay Area bridge traffic finally levels off

All told, weekday Bay Area traffic volumes are down by half, which has remained consistent from March 23 through this week.

Second deputy at SF Hall of Justice jail tests positive as inmate count shrinks

Doctor says inmate count needs to fall further to mitigate potential outbreak

Breed pushes volunteer opportunities to help isolated seniors as coronavirus spreads

Seniors and those living with disabilities are most susceptible to severe impacts of the coronavirus and are advised to remain home.

Confusion swirls over uneven eviction protections as rent collection begins

Housing advocates warn some type of rental assistance or forgiveness will be necessary

National Guard sets up hospital beds at San Mateo County Event Center

The triage center is intended as backup if COVID-19 cases surge in the coming weeks

Most Read