All the way down the Telegraph Road
Dire Staits, "Telegraph Road,"
1982.Mark Knopfler wrote "Telegraph Road" while traveling on his tour bus on Detroit's Telegraph Road and viewing the bleak urban-scape surrounding him.
The early 1980s recession was particularly brutal to Michigan, and the state--even without a recession--has lost jobs each of the last seven years.
Michigan is in tough shape--and here's an interesting indicator. I went to the Detroit Free Press site this morning, and I saw that the top two "Most Viewed Stories" are these two:
1. Search our database of Oakland foreclosures
2. Search our database of Wayne foreclosures
Wayne County includes Detroit and its inner suburbs. Oakland County is one of the wealthiest in the nation.
Yes, there are foreclosures--a lot of them--nationwide. But it must be worse in Michigan, particularly in the southeastern part of the state.
Related posts:
Blue state blues: Detroit area housing starts plummet
Google office with tax breaks opens in budget challenged Michigan
Technorati tags:
Michigan 
Detroit 
real estate 
foreclosures 
real estate blogging 
economy
No comments:
Post a Comment