How will this impact the Ann Arbor Real Estate Market? Detroit 3 Restructuring
How will this impact the Ann Arbor Real Estate Market?
Detroit Three submitting restructuring plans to Congress
Several years ago a client recommended I read “The End of Detroit” by Maynard from U of M. My client had lived through a downturn in Texas during the oil crisis when the housing bust lasted for years. So I read the book and was made aware of what had happened around me. I discovered the shrinking Detroit market share and how it was being eroded. To be living here and wake up to the precursor of what is unfolding now is gut wrenching.
My husband worked for Ford for 33 years. In 2001 I asked if his economic reports had changed and did the auto execs see a shift? He said no. As a former auditor of Ford Motor, I knew the massive data that was available to him and just figured what I was experiencing in the local Ann Arbor real estate market was a temporary blip.
It is imminent there will be restructuring/bailout and job changes. It is all here in the report I review to keep my Ann Arbor Sellers and Buyers up to date every month from Dana Johnson, Chief Economist from Comerica.
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