The Motley Fool Discussion Boards
Retirement Discussions / Retire Early CampFIRE
|Subject: Re: Libertyville's Loss is Chicago's Gain||Date: 10/11/2012 2:11 PM|
|Author: Colovion||Number: 648319 of 762775|
The city has been particularly attractive to technology companies that have found that younger workers are less likely to move to the suburbs than previous generations.
Detroit doesn't have that issue, lol! There was a poll that came out recently (I'll try to hunt down a link for it later, I heard about it on talk radio locally) that found that 40% of Detroiters plan on leaving the city within five years. Whether or not they do (or can) is another issue of course, but when 40% of your population wants to leave... not great.
I don't blame them though. The Detroit Police were handing out fliers before the first Tiger Playoff game basically saying Detroit is a warzone. I kid you not! They are upset that they have to work 12-hour days and their pay was cut (as would anyone be) and their ranks are being decimated. Not sure what their goal is... not like Tiger fans from the suburbs are going to just start handing DPD officers money, but it is what it is.
Oh, and Detroit's dismal finances? Worse than previously thought (and previously they were thought to be a disaster of epic proportions!) The city is working under a consent agreement with the state, but the state isn't happy with the progress (or lack thereof) from the city in terms of meeting their debt obligations.
So Detroit is indeed circling the drain. I have no doubt anyone who can do so and has any desire to is fleeing to Chicago. I've never been a city groupie but they exist... and Detroit has almost nothing to offer them that other cities don't have in spades.
One word of caution: Detroit was once (economically) where Chicago now is. Very bad things can happen in a remarkably short period of time.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|