I would, because the infrastructure is crumbling, the tax base to fix it is non-existent, and the bureaucracy running the city is overbearing and corrupt. Detroit is still in the early stages of a death spiral, and it would take something mind bendingly huge to snap out of it.
Detroit is going to stand as the lesson to all cities in North America.
Mind-bendingly huge like the mayor forcibly removing the elected city officials and installing emergency city managers to cut down on the corruption and bureaucracy? Mind-bendingly huge like the largest US city to ever successfully declare bankruptcy ($18.5 billion in debt)?
Because that's what happened. Now we wait to see if it works.
> the mayor forcibly removing the elected city officials and installing emergency city managers
The Detroit emergency financial manager was appointed by Michigan Governor Rick Scott against the loud and outspoken wishes of the citizens and elected officials of the City of Detroit.
Detroit isn't going anywhere. The residential community may be on the decline, but the business community is thriving and private interests are investing in the infrastructure themselves. The business community doesn't need to rely on the city for infrastructure when there is plenty of capital available to invest directly versus waiting on the corrupt bureaucracy.
Right, but if I were investing in downtown Detroit I'd be wary of the fact that bureaucracy still hasn't been burned to the ground, and if your business succeeds they will leech off it as much as possible.
Detroit unquestionably needs greater amounts of private investment, but the governance has been so bad that it is a significant risk factor. Combine that with the widespread crime and anti-gentrification sentiments that would exist if you tried to do something about it, and it looks difficult.
It looks like the plan in Detroit may be to bring in a lot of EB-2 visas. I'm not sure how I feel about this. It would be great to bring more people to the area, but also there would be more competition for tech jobs.
