And they say Cleveland is poor
From DeCoster:
In Detroit, where the government's "unemployment rate" is the highest of any metro area: "Nearly 7,000 homes, more than a year's worth, are up for sale; 7,422 homes in the county are in foreclosure (that figure swelled by 39% in July alone); and prices from January through June are down 6.6% from the same period last year." Homes in the upper crust Grosse Pointes are taking 1-2 years to sell, if they sell at all. Meanwhile, people are fleeing GM, Ford, and Chrysler (or are getting fired), and are snapping up jobs in places like Charleston, Charlotte, and Georgia. One ex-GM engineer friend of mine, who is in the process of settling at a new job in Charleston said, "It seems like everyone here is from the Detroit area." The Yankee invasion?
Comments
Posted by: J
Posted on: September 5, 2006 01:50 PM
For the second time in three years, Cleveland has been named the poorest big city in America.
http://www.cleveland.com/census/index.ssf?/base/news/115692731199050.xml&coll=2
Posted by: Jeffrey Quick
Posted on: September 5, 2006 02:03 PM
Yeah, yeah, I know. It's crap. Go to Detroit and you'll see.
Posted by: Brian Gray
Posted on: September 5, 2006 07:50 PM
Here are some more telling numbers.
Unemployment rate (seasonally adjusted) in July
Detroit - 7.4
Cleveland - 5.4