Have you looked into Chicago? It's a great city. It's been hit like all areas of the country, but it remains with a strong financial sector and other spin-off industries. Jobs may be competitive, but not impossible.
People are just morons. Walk down Woodward and ask people if they'd vote for Kwame again and you'll only get 2 answers. "Yes" and "Kwame who?" I know a guy born and raised in the 313, still has family down there but lives in East Lansing and he doesn't have a clue that GM and Chrysler are going bankrupt in like 53 days. I'm not joking. Not a clue, as if he's been in a coma the past 5 years.
Okay now... Michigan does have some decent things going for it...jobs is just not one of those things. Detroit has 3 nice casinos including MGM Grand. Right across the river in Windsor Canada there are more nice Casinos for those of us that like to play craps. Guns including machine guns are now legal to own in Michigan...unlike New York and Chicago and its pretty easy to get a concealed pistol license ( I carry two guns when I go into Detroit). Can you even legally buy a handgun in Chicago and New York? Right across the river in Windsor Canada there are some really nice full nudity bars where alcohol can be sold to those 19 and older. They even have legal escorts over there. If Spitzer would have gone over to Canada he could have had his fun and would still be the New York governor!!! I have done scuba diving to ship wrecks in the great lakes and gone snowmobiling up north. Lots of outdoor activities are available. Most of Michigan, away from Detroit is in decent condition, unfortunately there are just too few jobs. If the state can just get away from a reliance on GM, Ford and Chrysler it can begin to recover. Detroit is another matter though. However a local financial services firm is going to create the largest urban farm in the nation...right in Detroit.
I'm also a Michigander. I live in the metro detroit area (burbs) but spend lots of time in and around Traverse City. I agree times are tough in Michigan but I'm confident we'll bounce back. Now I gotta run and watch my Spartans kick some Tarheel butt -Guru
Detroit's a shit hole with incompetent and corrupt government officials. No one is denying that. But Detroit's population is less than 700k, and Michigan's population is 9 million. Once you get out of the red zone of Detroit, beginning at about the 20 mile from the epicenter, everything is much better. When you get to Oakland Township, Bloomfield, Clarkston, thing are very nice. You won't find a nice home for less than 400k in those parts, even today, and a truly nice setup will still run a million plus. Detroit is a fraction of Michigan.
You have to realize there are lots of morons here on ET (bond_trader & Ivanovich to name 2 based on their inability to understand why people live in MI). I lived in Birmingham and Beverly Hills for 17 years and loved it. Running around Quarton Lake and through the streets of Birmingham with the gorgeous older houses. Obviously they are unaware of Petosky, Harbor Springs, Boyne Mountain and so on. I love to read posts from those who speak (i.e. post) without knowing facts.
But the rest of Michigan's existence owes itself to the big 3. As stock_trad3r just said, they've sucked now tit dry and the chickens are coming home to roost. GM's bankrupcy will have far reaching impacts outside detroit.