'Detroit's 3,000 demolished home goal'

Discussion in 'Economics' started by Wallace, Jan 7, 2011.

  1. "Detroit Mayor Dave Bing's plan to rid the city of 3,000 blighted and dangerous
    houses in one year is on pace to do just that.
    City officials tell The Associated Press that they're about 1,150 demolitions shy of
    the goal, but should reach it over the next few months. About 1,850 houses have
    been leveled since last April.
    Bing wants 10,000 vacant and abandoned houses torn down by the time his four-
    year term ends in December 2013. He tells the AP that the city is "committed to
    removing these dangerous eyesores from our neighborhoods."
    Detroit has a budget deficit of at least $85 million and is relying on upward of $25
    million in federal and state funds to pay for the first two years of demolition."
  2. All I can say is, "FINALLY!"
  3. Who's global headquaters are located in the mentioned city? I would agree that there needs to be some changes made in the retail housing sector in that area but why does the Fed have to foot the bill? I wish I could asked the Fed for money I needed capital to accomplish my bussiness goals which actually run a profit in a stand alone system. Lets just call it a public works project and call it even.

  4. Actually, I agree with you, Akuma. But if the money was already allocated to the state and/or city, that horse was out of the barn long ago. I too have had enough of free flowing federal tax dollars. However, at least Detroit finally has a mayor who recognizes the importance of the blight problem in the neighborhoods and found a reasonable use for that money.